Safehold (NYSE:SAFE) Raised to “Outperform” at Raymond James

Raymond James upgraded shares of Safehold (NYSE:SAFE) from a market perform rating to an outperform rating in a research report released on Thursday, MarketBeat.com reports. Raymond James currently has $34.00 price target on the stock.

A number of other equities analysts also recently commented on SAFE. Wedbush boosted their price objective on shares of Safehold from $20.00 to $25.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. The Goldman Sachs Group boosted their price target on Safehold from $25.00 to $38.00 and gave the stock a buy rating in a research report on Wednesday, September 18th. Finally, Truist Financial upped their price objective on Safehold from $21.00 to $22.00 and gave the stock a hold rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $28.56.

Safehold Price Performance

SAFE opened at $26.95 on Thursday. The company has a market capitalization of $1.93 billion, a price-to-earnings ratio of -59.89 and a beta of 1.65. The company has a current ratio of 38.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.76. Safehold has a 12-month low of $15.00 and a 12-month high of $28.80. The business’s fifty day simple moving average is $24.06 and its 200-day simple moving average is $21.05.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The company had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $87.28 million. During the same period in the prior year, the business earned $0.35 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities research analysts anticipate that Safehold will post 1.59 earnings per share for the current fiscal year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 2.63%. The ex-dividend date is Monday, September 30th. Safehold’s dividend payout ratio is presently -155.56%.

Institutional Trading of Safehold

Several large investors have recently bought and sold shares of the stock. UBS Group AG lifted its stake in shares of Safehold by 1,002.8% during the fourth quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock worth $51,625,000 after buying an additional 2,006,133 shares during the period. Peregrine Capital Management LLC purchased a new stake in Safehold during the 1st quarter valued at about $7,227,000. Long Pond Capital LP increased its holdings in shares of Safehold by 14.9% in the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after purchasing an additional 345,661 shares during the period. Sei Investments Co. raised its stake in shares of Safehold by 62.4% in the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after purchasing an additional 249,500 shares during the last quarter. Finally, Heitman Real Estate Securities LLC acquired a new stake in shares of Safehold during the fourth quarter worth about $5,005,000. 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.