Analysts Set Safehold Inc. (NYSE:SAFE) Price Target at $28.22

Safehold Inc. (NYSE:SAFE) has received a consensus recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 1 year price target among analysts that have updated their coverage on the stock in the last year is $28.22.

A number of analysts have weighed in on SAFE shares. Mizuho boosted their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Royal Bank of Canada boosted their target price on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Tuesday, October 29th. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Thursday, September 19th. Finally, Wedbush reiterated a “neutral” rating and issued a $23.00 target price (down from $25.00) on shares of Safehold in a research note on Monday, November 4th.

Safehold Trading Up 0.8 %

NYSE:SAFE opened at $18.48 on Thursday. The company has a market capitalization of $1.32 billion, a P/E ratio of 10.87 and a beta of 1.66. The stock’s 50 day moving average price is $20.61 and its 200 day moving average price is $22.32. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. Safehold has a 52 week low of $17.91 and a 52 week high of $28.80.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. Safehold’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 EPS. On average, research analysts forecast that Safehold will post 1.56 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be given a $0.177 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.71 annualized dividend and a yield of 3.83%. Safehold’s dividend payout ratio is 41.18%.

Institutional Investors Weigh In On Safehold

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC raised its holdings in Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after acquiring an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Safehold by 35.4% in the third 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 lifted its position in Safehold by 79.3% in the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after purchasing an additional 1,275 shares during the period. Vestcor Inc bought a new stake in Safehold in the 3rd quarter valued at $110,000. Finally, FMR LLC raised its stake in shares of Safehold by 24.9% in the 3rd quarter. FMR LLC now owns 5,840 shares of the company’s stock valued at $153,000 after buying an additional 1,163 shares in the last quarter. 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.