Brokerages Set Safehold Inc. (NYSE:SAFE) Target Price at $27.22

Shares of Safehold Inc. (NYSE:SAFE) have received an average rating of “Moderate Buy” from the nine ratings firms that are currently covering the firm, Marketbeat reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $27.22.

SAFE has been the subject of several analyst reports. Royal Bank of Canada cut their price target on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. JMP Securities reissued a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Thursday, May 16th. 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 Friday, June 28th. Mizuho downgraded shares of Safehold from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $22.00 to $20.00 in a research note on Friday, May 10th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th.

Safehold Stock Performance

NYSE SAFE opened at $18.85 on Thursday. The company has a debt-to-equity ratio of 1.78, a current ratio of 42.51 and a quick ratio of 42.51. The firm has a market capitalization of $1.35 billion, a price-to-earnings ratio of -41.89 and a beta of 1.65. The company’s fifty day moving average is $19.16 and its two-hundred day moving average is $20.10. Safehold has a 52-week low of $15.00 and a 52-week high of $26.33.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. Safehold had a negative net margin of 7.87% and a positive return on equity of 4.43%. The company had revenue of $93.20 million for the quarter, compared to analyst estimates of $88.20 million. During the same period last year, the business posted $0.41 EPS. The business’s quarterly revenue was up 19.0% on a year-over-year basis. Equities research analysts forecast that Safehold will post 1.53 EPS for the current year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th 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 3.76%. The ex-dividend date of this dividend is Friday, June 28th. Safehold’s dividend payout ratio is currently -157.78%.

Institutional Investors Weigh In On Safehold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Kennedy Capital Management LLC increased its holdings in shares of Safehold by 69.1% during the 1st quarter. Kennedy Capital Management LLC now owns 71,462 shares of the company’s stock worth $1,472,000 after acquiring an additional 29,206 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of Safehold by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,835 shares of the company’s stock worth $801,000 after acquiring an additional 1,731 shares during the last quarter. Quadrature Capital Ltd acquired a new position in shares of Safehold during the 1st quarter worth approximately $330,000. UniSuper Management Pty Ltd increased its holdings in shares of Safehold by 14.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 14,100 shares of the company’s stock worth $290,000 after acquiring an additional 1,800 shares during the last quarter. Finally, Edgestream Partners L.P. acquired a new position in shares of Safehold during the 1st quarter worth approximately $4,400,000. 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.