Safehold (NYSE:SAFE) Shares Gap Up on Analyst Upgrade

Safehold Inc. (NYSE:SAFE) shares gapped up before the market opened on Friday after The Goldman Sachs Group raised their price target on the stock from $25.00 to $29.00. The stock had previously closed at $18.96, but opened at $19.43. The Goldman Sachs Group currently has a buy rating on the stock. Safehold shares last traded at $19.00, with a volume of 129,279 shares trading hands.

SAFE has been the topic of several other research reports. JPMorgan Chase & Co. lowered their target price on shares of 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 shares of Safehold from a “buy” rating to a “neutral” rating and lowered their price objective for the company from $22.00 to $20.00 in a research note on Friday, May 10th. JMP Securities restated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Thursday, May 16th. Finally, Royal Bank of Canada decreased their price target on Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.22.

Institutional Trading of Safehold

Several institutional investors and hedge funds have recently bought and sold shares of SAFE. UBS Group AG boosted its position in shares of Safehold by 1,002.8% in the fourth quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock worth $51,625,000 after buying an additional 2,006,133 shares during the period. Aew Capital Management L P acquired a new stake in Safehold during the 4th quarter worth about $25,605,000. Vanguard Group Inc. boosted its position in Safehold by 11.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock worth $137,234,000 after acquiring an additional 816,033 shares during the period. Peregrine Capital Management LLC purchased a new position in Safehold during the 1st quarter valued at about $7,227,000. Finally, Sei Investments Co. increased its holdings in shares of Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after purchasing an additional 249,500 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Stock Up 0.7 %

The company has a quick ratio of 42.51, a current ratio of 42.51 and a debt-to-equity ratio of 1.78. The firm has a market capitalization of $1.38 billion, a PE ratio of -42.83 and a beta of 1.66. The business’s 50-day moving average price is $19.16 and its 200-day moving average price is $20.29.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Monday, May 6th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. Safehold had a negative net margin of 7.87% and a positive return on equity of 4.43%. The firm had revenue of $93.20 million for the quarter, compared to analyst estimates of $88.20 million. During the same quarter in the prior year, the business earned $0.41 EPS. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, equities research analysts predict that Safehold Inc. will post 1.53 EPS for the current fiscal year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be given a dividend of $0.177 per share. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.71 dividend on an annualized basis and a yield of 3.67%. Safehold’s payout ratio is -157.78%.

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.