Safehold Inc. (NYSE:SAFE) Receives $26.00 Consensus Target Price from Brokerages

Shares of Safehold Inc. (NYSE:SAFE) have earned an average recommendation of “Hold” from the nine analysts that are presently covering the stock, Marketbeat Ratings reports. Five equities research analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $26.00.

A number of analysts have issued reports on the company. Royal Bank of Canada raised their price target on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wedbush reissued a “neutral” rating and issued a $23.00 target price (down from $25.00) on shares of Safehold in a research report on Monday, November 4th. JMP Securities restated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a report on Tuesday, October 29th. Morgan Stanley downgraded shares of Safehold from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. Finally, Mizuho boosted 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 Trading Down 4.0 %

Shares of SAFE opened at $16.13 on Monday. 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 $15.55 and a 1-year high of $28.80. The stock has a market cap of $1.15 billion, a price-to-earnings ratio of 9.49 and a beta of 1.67. The firm has a 50 day simple moving average of $19.26 and a 200-day simple moving average of $22.14.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 earnings per share. Equities analysts forecast that Safehold will post 1.57 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a $0.177 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.39%. Safehold’s dividend payout ratio (DPR) is currently 41.76%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in SAFE. GAMMA Investing LLC lifted 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 in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position 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 purchasing an additional 471 shares in the last quarter. KBC Group NV boosted its stake in shares of Safehold by 79.3% during the 3rd quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after buying an additional 1,275 shares during the last quarter. Vestcor Inc acquired a new stake in shares of Safehold during the third quarter worth approximately $110,000. Finally, FMR LLC increased its stake in shares of Safehold by 24.9% in the third quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after buying an additional 1,163 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

About Safehold

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.