Safehold (NYSE:SAFE) Trading 4.3% Higher – Here’s Why

Safehold Inc. (NYSE:SAFE)’s stock price was up 4.3% on Tuesday . The stock traded as high as $18.83 and last traded at $18.88. Approximately 84,868 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 354,107 shares. The stock had previously closed at $18.11.

Analysts Set New Price Targets

SAFE has been the topic of a number of recent analyst reports. Morgan Stanley cut shares of Safehold from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $30.00 to $19.00 in a research report on Wednesday, January 15th. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research note on Thursday, February 6th. Wedbush reissued a “neutral” rating and issued a $19.00 price target (down previously from $20.00) on shares of Safehold in a research report on Friday, February 7th. Finally, The Goldman Sachs Group cut their price objective on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Safehold presently has a consensus rating of “Hold” and a consensus target price of $25.56.

Safehold Stock Up 2.4 %

The stock has a market cap of $1.33 billion, a PE ratio of 12.57 and a beta of 1.66. The business has a 50 day moving average of $17.26 and a 200-day moving average of $21.13. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE) last announced its earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same quarter last year, the firm earned $0.36 EPS. Equities research analysts predict that Safehold Inc. will post 1.58 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.177 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a yield of 3.82%. Safehold’s payout ratio is 47.30%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Smartleaf Asset Management LLC lifted its holdings in shares of Safehold by 268.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock worth $26,000 after purchasing an additional 1,020 shares during the period. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Safehold by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after acquiring an additional 471 shares during the period. KBC Group NV lifted its stake in shares of Safehold by 79.3% in the 3rd quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after acquiring an additional 1,275 shares during the period. Vestcor Inc purchased a new stake in shares of Safehold in the third quarter valued at about $110,000. Finally, Tower Research Capital LLC TRC increased its stake in shares of Safehold by 23.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock worth $83,000 after acquiring an additional 849 shares during the period. Institutional investors and hedge funds 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.