Brokerages Set Safehold Inc. (NYSE:SAFE) Price Target at $28.22

Safehold Inc. (NYSE:SAFE) has received a consensus recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $28.22.

Several analysts have weighed in on SAFE shares. Wedbush reiterated a “neutral” rating and set a $23.00 target price (down previously from $25.00) on shares of Safehold in a research note on Monday, November 4th. JMP Securities reissued a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research note on Tuesday, October 29th. Royal Bank of Canada lifted their price target on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group reduced their price target on Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Mizuho lifted their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st.

Safehold Stock Up 1.0 %

Shares of Safehold stock opened at $21.45 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. Safehold has a 1-year low of $17.91 and a 1-year high of $28.80. The business has a 50-day moving average of $22.54 and a 200-day moving average of $22.23. The company has a market capitalization of $1.53 billion, a PE ratio of 12.62 and a beta of 1.66.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The business had revenue of $90.70 million during the quarter, compared to the consensus estimate of $89.45 million. During the same period last year, the firm earned $0.33 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts forecast that Safehold will post 1.56 EPS for the current fiscal year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 3.30%. The ex-dividend date was Monday, September 30th. Safehold’s dividend payout ratio is currently 41.76%.

Hedge Funds Weigh In On Safehold

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC increased its stake in shares of Safehold by 108.7% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after acquiring an additional 920 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Safehold by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after buying an additional 471 shares in the last quarter. KBC Group NV increased its holdings in Safehold by 79.3% in the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after buying an additional 1,275 shares during the last quarter. Vestcor Inc bought a new position in Safehold during the third quarter valued at approximately $110,000. Finally, FMR LLC grew its position in Safehold by 24.9% in the third quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after acquiring an additional 1,163 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk.