Safehold (NYSE:SAFE) Price Target Raised to $29.00 at The Goldman Sachs Group

Safehold (NYSE:SAFE) had its target price lifted by The Goldman Sachs Group from $25.00 to $29.00 in a report issued on Friday, Benzinga reports. They currently have a buy rating on the stock.

A number of other equities analysts have also weighed in on the company. JPMorgan Chase & Co. lowered their price objective on Safehold from $23.00 to $21.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Mizuho lowered Safehold from a buy rating to a neutral rating and lowered their price objective for the stock from $22.00 to $20.00 in a research note on Friday, May 10th. Royal Bank of Canada lowered their price objective on Safehold from $32.00 to $29.00 and set an outperform rating on the stock in a research note on Wednesday, May 8th. Finally, JMP Securities reissued a market outperform rating and set a $35.00 price objective on shares of Safehold in a research note on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and five 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 $27.22.

Safehold Stock Up 0.7 %

Shares of SAFE opened at $19.28 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 42.51 and a current ratio of 42.51. Safehold has a one year low of $15.00 and a one year high of $26.33. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of -42.83 and a beta of 1.66. The stock has a 50 day moving average price of $19.16 and a 200 day moving average price of $20.29.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, May 6th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The firm had revenue of $93.20 million during the quarter, compared to analysts’ expectations of $88.20 million. Safehold had a positive return on equity of 4.43% and a negative net margin of 7.87%. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.41 earnings per share. Equities research analysts forecast that Safehold will post 1.53 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 3.67%. The ex-dividend date is Friday, June 28th. Safehold’s dividend payout ratio (DPR) is presently -157.78%.

Hedge Funds Weigh In On Safehold

Several hedge funds have recently bought and sold shares of the company. Kennedy Capital Management LLC lifted its stake in Safehold by 69.1% during the 1st quarter. Kennedy Capital Management LLC now owns 71,462 shares of the company’s stock worth $1,472,000 after acquiring an additional 29,206 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in Safehold by 4.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,835 shares of the company’s stock worth $801,000 after acquiring an additional 1,731 shares in the last quarter. Quadrature Capital Ltd acquired a new position in Safehold during the 1st quarter worth about $330,000. UniSuper Management Pty Ltd lifted its stake in Safehold by 14.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 14,100 shares of the company’s stock worth $290,000 after acquiring an additional 1,800 shares in the last quarter. Finally, Edgestream Partners L.P. acquired a new position in Safehold during the 1st quarter worth about $4,400,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

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.