Safehold Inc. (NYSE:SAFE) Receives $26.75 Average Price Target from Brokerages

Shares of Safehold Inc. (NYSE:SAFE) have been given an average recommendation of “Moderate Buy” by the nine ratings firms that are presently covering the stock, Marketbeat.com reports. Four equities 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 brokers that have covered the stock in the last year is $28.56.

Several brokerages recently commented on SAFE. Truist Financial increased their price objective on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research report on Thursday, September 19th. The Goldman Sachs Group upped their price objective on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Finally, Wedbush lifted their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

Safehold Price Performance

Shares of NYSE SAFE opened at $27.14 on Tuesday. The company has a 50 day simple moving average of $24.17 and a two-hundred day simple moving average of $21.10. Safehold has a fifty-two week low of $15.00 and a fifty-two week high of $28.80. The company has a market capitalization of $1.94 billion, a price-to-earnings ratio of -60.31 and a beta of 1.65. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The company had revenue of $89.90 million during the quarter, compared to analyst estimates of $87.28 million. During the same quarter last year, the company earned $0.35 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Analysts expect that Safehold will post 1.59 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 2.61%. The ex-dividend date is Monday, September 30th. Safehold’s dividend payout ratio is presently -155.56%.

Hedge Funds Weigh In On Safehold

A number of institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC grew its holdings in Safehold by 49.3% during the first quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock valued at $44,000 after purchasing an additional 702 shares during the period. Roble Belko & Company Inc purchased a new stake in Safehold in the 1st quarter worth approximately $45,000. PNC Financial Services Group Inc. raised its stake in Safehold by 65.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock worth $175,000 after acquiring an additional 2,965 shares during the period. ProShare Advisors LLC lifted its holdings in Safehold by 7.5% during the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after purchasing an additional 676 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Safehold in the second quarter worth approximately $204,000. 70.38% of the stock is owned by institutional investors.

Safehold Company Profile

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.