Safehold (NYSE:SAFE) Price Target Cut to $22.00 by Analysts at Mizuho

Safehold (NYSE:SAFEFree Report) had its price target cut by Mizuho from $25.00 to $22.00 in a research report sent to investors on Thursday, Benzinga reports. They currently have a buy rating on the stock.

A number of other brokerages have also weighed in on SAFE. Royal Bank of Canada decreased their price objective on Safehold from $33.00 to $32.00 and set an outperform rating on the stock in a report on Thursday, February 15th. Jefferies Financial Group started coverage on Safehold in a report on Thursday, January 4th. They issued a buy rating and a $33.00 price objective on the stock. The Goldman Sachs Group lifted their price target on Safehold from $25.00 to $29.00 and gave the stock a buy rating in a report on Thursday, January 11th. JMP Securities started coverage on Safehold in a report on Tuesday, January 23rd. They set an outperform rating and a $35.00 price target on the stock. Finally, JPMorgan Chase & Co. reiterated a market outperform rating and set a $35.00 price target on shares of Safehold in a report on Tuesday, February 13th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, Safehold presently has an average rating of Moderate Buy and a consensus price target of $29.80.

Read Our Latest Report on Safehold

Safehold Stock Performance

Shares of NYSE SAFE opened at $20.35 on Thursday. The firm has a market capitalization of $1.45 billion, a price-to-earnings ratio of -25.12 and a beta of 1.46. The firm has a 50 day moving average of $21.05 and a 200 day moving average of $19.76. Safehold has a 12-month low of $15.00 and a 12-month high of $30.43. The company has a current ratio of 36.61, a quick ratio of 36.61 and a debt-to-equity ratio of 1.78.

Safehold (NYSE:SAFEGet Free Report) last released its quarterly earnings results on Monday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $103.00 million for the quarter, compared to analysts’ expectations of $84.89 million. During the same quarter last year, the company earned ($6.00) EPS. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, research analysts anticipate that Safehold will post 1.52 earnings per share for the current year.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a $0.177 dividend. The ex-dividend date was Thursday, December 28th. This represents a $0.71 annualized dividend and a yield of 3.48%. Safehold’s dividend payout ratio (DPR) is currently -87.65%.

Institutional Trading of Safehold

Several institutional investors and hedge funds have recently bought and sold shares of the stock. FMR LLC grew its position in Safehold by 17.8% in the 2nd quarter. FMR LLC now owns 1,643 shares of the company’s stock valued at $58,000 after acquiring an additional 248 shares in the last quarter. Yousif Capital Management LLC grew its position in Safehold by 2.0% in the 1st quarter. Yousif Capital Management LLC now owns 12,876 shares of the company’s stock valued at $714,000 after acquiring an additional 250 shares in the last quarter. Royal Bank of Canada grew its position in Safehold by 6.0% in the 3rd quarter. Royal Bank of Canada now owns 6,043 shares of the company’s stock valued at $160,000 after acquiring an additional 340 shares in the last quarter. AQR Capital Management LLC grew its position in Safehold by 2.8% in the 2nd quarter. AQR Capital Management LLC now owns 12,546 shares of the company’s stock valued at $444,000 after acquiring an additional 344 shares in the last quarter. Finally, Point72 Hong Kong Ltd grew its position in Safehold by 17.5% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,953 shares of the company’s stock valued at $164,000 after acquiring an additional 440 shares in the last quarter. 71.44% of the stock is currently owned by hedge funds and other institutional investors.

About Safehold

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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.

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Analyst Recommendations for Safehold (NYSE:SAFE)

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