Safehold Inc. (NYSE:SAFE) Receives $28.22 Average Price Target from Brokerages

Safehold Inc. (NYSE:SAFE) has been assigned a consensus rating of “Moderate Buy” from the nine analysts that are currently covering the firm, MarketBeat reports. Four analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 12-month price target among brokers that have issued ratings on the stock in the last year is $28.22.

SAFE has been the topic of several recent research reports. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a report on Thursday, September 19th. The Goldman Sachs Group decreased their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 1st. JMP Securities restated a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research note on Tuesday, October 29th. Wedbush reiterated a “neutral” rating and set a $23.00 price target (down previously from $25.00) on shares of Safehold in a research report on Monday, November 4th. Finally, Mizuho raised their price objective on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st.

Safehold Price Performance

SAFE stock opened at $18.63 on Thursday. The stock has a market cap of $1.33 billion, a PE ratio of 10.96 and a beta of 1.66. Safehold has a 12 month low of $17.91 and a 12 month high of $28.80. The company has a 50-day moving average price of $20.92 and a 200 day moving average price of $22.30. The company has a current ratio of 37.83, a quick ratio of 37.83 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $90.70 million during the quarter, compared to the consensus estimate of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. Equities research analysts anticipate that Safehold will post 1.56 earnings per share for the current year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.80%. The ex-dividend date is Monday, December 30th. Safehold’s dividend payout ratio is currently 41.18%.

Institutional Trading of Safehold

Institutional investors have recently modified their holdings of the company. Long Pond Capital LP grew its position in Safehold by 14.9% during the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after purchasing an additional 345,661 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Safehold by 266.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 349,631 shares of the company’s stock worth $9,171,000 after buying an additional 254,227 shares during the period. Heitman Real Estate Securities LLC purchased a new position in shares of Safehold during the third quarter valued at $3,683,000. JPMorgan Chase & Co. raised its position in Safehold by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company’s stock valued at $17,369,000 after buying an additional 91,965 shares during the period. Finally, HGI Capital Management LLC lifted its stake in Safehold by 74.5% in the 3rd quarter. HGI Capital Management LLC now owns 212,887 shares of the company’s stock worth $5,584,000 after acquiring an additional 90,866 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.