Safehold Inc. (NYSE:SAFE) Receives $27.22 Average Target Price from Analysts

Shares of Safehold Inc. (NYSE:SAFE) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are currently covering the firm, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $27.89.

Several analysts recently issued reports on SAFE shares. Wedbush increased their price target on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. JMP Securities reiterated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Thursday, May 16th. JPMorgan Chase & Co. reduced their price target on Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. The Goldman Sachs Group upped their price target on Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Finally, Royal Bank of Canada dropped their price objective on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th.

Institutional Investors Weigh In On Safehold

Several hedge funds and other institutional investors have recently modified their holdings of SAFE. Rhumbline Advisers lifted its position in shares of Safehold by 4.1% during the second quarter. Rhumbline Advisers now owns 167,142 shares of the company’s stock worth $3,224,000 after purchasing an additional 6,656 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Safehold during the 2nd quarter worth approximately $204,000. Peregrine Capital Management LLC grew its position in shares of Safehold by 10.0% in the 2nd quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock worth $7,443,000 after acquiring an additional 35,046 shares in the last quarter. Breakwater Capital Group increased its holdings in shares of Safehold by 14.2% in the 2nd quarter. Breakwater Capital Group now owns 12,477 shares of the company’s stock valued at $241,000 after acquiring an additional 1,550 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Safehold by 7.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock valued at $9,080,000 after acquiring an additional 34,404 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

Safehold Stock Up 1.3 %

Shares of NYSE:SAFE opened at $23.33 on Monday. The stock has a 50-day simple moving average of $20.03 and a 200-day simple moving average of $20.01. The stock has a market capitalization of $1.67 billion, a P/E ratio of -51.84 and a beta of 1.65. Safehold has a 1 year low of $15.00 and a 1 year high of $24.03. The company has a debt-to-equity ratio of 1.76, a quick ratio of 42.51 and a current ratio of 38.83.

Safehold (NYSE:SAFE) last released its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $87.28 million. During the same period in the previous year, the firm earned $0.35 earnings per share. Safehold’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities analysts forecast that Safehold will post 1.59 earnings per share for the current year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a dividend of $0.177 per share. The ex-dividend date was Friday, June 28th. This represents a $0.71 dividend on an annualized basis and a yield of 3.03%. Safehold’s dividend payout ratio (DPR) is -157.78%.

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.