Safehold Inc. (NYSE:SAFE) Given Consensus Recommendation of “Moderate Buy” by Brokerages

Shares of Safehold Inc. (NYSE:SAFE) have been assigned an average rating of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12 month price target among brokers that have updated their coverage on the stock in the last year is $28.22.

SAFE has been the subject of a number of research reports. Mizuho lifted their target price 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. Truist Financial increased their price objective on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Thursday, September 19th. Wedbush restated a “neutral” rating and issued a $23.00 price objective (down from $25.00) on shares of Safehold in a research note on Monday, November 4th. Finally, The Goldman Sachs Group lowered their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 1st.

Safehold Stock Performance

Shares of Safehold stock opened at $20.51 on Wednesday. The stock has a market cap of $1.47 billion, a PE ratio of 12.06 and a beta of 1.68. Safehold has a 12 month low of $16.44 and a 12 month high of $28.80. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. The business has a fifty day simple moving average of $24.38 and a 200-day simple moving average of $22.11.

Safehold (NYSE:SAFE) last released its 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 company had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.33 EPS. On average, sell-side analysts anticipate that Safehold will post 1.56 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio is presently 41.76%.

Institutional Investors Weigh In On Safehold

Institutional investors have recently bought and sold shares of the business. Daiwa Securities Group Inc. boosted its holdings in Safehold by 7.0% during the first quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock valued at $298,000 after purchasing an additional 949 shares in the last quarter. SG Americas Securities LLC bought a new stake in shares of Safehold during the first quarter worth $1,979,000. Illinois Municipal Retirement Fund increased its stake in shares of Safehold by 4.7% in the first quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company’s stock valued at $529,000 after buying an additional 1,156 shares in the last quarter. Sei Investments Co. raised its holdings in shares of Safehold by 62.4% in the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after buying an additional 249,500 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its position in Safehold by 6.0% during the 1st quarter. Russell Investments Group Ltd. now owns 190,667 shares of the company’s stock worth $3,928,000 after buying an additional 10,787 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

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.