Analysts Set Safehold Inc. (NYSE:SAFE) Price Target at $29.80

Safehold Inc. (NYSE:SAFE) has earned an average rating of “Moderate Buy” from the nine research firms that are currently covering the firm, MarketBeat Ratings reports. Two analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The average 1 year price target among brokerages that have updated their coverage on the stock in the last year is $29.80.

Several analysts recently weighed in on SAFE shares. Mizuho cut their price target on shares of Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. Jefferies Financial Group started coverage on shares of Safehold in a report on Thursday, January 4th. They issued a “buy” rating and a $33.00 price target on the stock. The Goldman Sachs Group lifted their price target on shares of Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, January 11th. JPMorgan Chase & Co. reiterated a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a report on Tuesday, February 13th. Finally, Royal Bank of Canada cut their price target on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th.

Safehold Stock Up 2.1 %

Shares of NYSE SAFE opened at $20.60 on Tuesday. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78. Safehold has a 52 week low of $15.00 and a 52 week high of $30.29. The firm’s fifty day moving average is $20.47 and its 200 day moving average is $19.75. The company has a market cap of $1.46 billion, a price-to-earnings ratio of -25.43 and a beta of 1.46.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, February 12th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The company had revenue of $103.00 million for the quarter, compared to the consensus estimate of $84.89 million. During the same period in the previous year, the firm earned ($6.00) earnings per share. The firm’s revenue for the quarter was up 40.3% on a year-over-year basis. On average, equities research analysts expect that Safehold will post 1.52 earnings per share for the current year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Stockholders of record on Thursday, March 28th will be given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 3.44%. The ex-dividend date of this dividend is Wednesday, March 27th. Safehold’s payout ratio is currently -87.65%.

Institutional Investors Weigh In On Safehold

Several hedge funds and other institutional investors have recently made changes to their positions in the business. BlackRock Inc. grew its stake in shares of Safehold by 51.4% during the 1st quarter. BlackRock Inc. now owns 7,325,064 shares of the company’s stock valued at $211,511,000 after acquiring an additional 2,487,183 shares during the period. UBS Group AG grew its stake in shares of Safehold by 1,002.8% during the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock valued at $51,625,000 after acquiring an additional 2,006,133 shares during the period. Bluefin Capital Management LLC bought a new position in shares of Safehold during the 1st quarter valued at approximately $10,264,000. Aew Capital Management L P bought a new position in shares of Safehold during the 4th quarter valued at approximately $25,605,000. Finally, Long Pond Capital LP grew its stake in shares of Safehold by 26.9% during the 2nd quarter. Long Pond Capital LP now owns 4,135,495 shares of the company’s stock valued at $98,135,000 after acquiring an additional 876,136 shares during the period. Hedge funds and other institutional investors 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.