Safehold Inc. (NYSE:SAFE) Receives Consensus Rating of “Moderate Buy” from Brokerages

Safehold Inc. (NYSE:SAFE) has been assigned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat Ratings reports. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 1-year price target among brokers that have covered the stock in the last year is $27.22.

A number of brokerages have weighed in on SAFE. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research report on Thursday, May 16th. Mizuho cut shares of Safehold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $20.00 in a research report on Friday, May 10th. JPMorgan Chase & Co. cut their price objective 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 boosted their price objective on Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada lowered their target price on Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th.

Safehold Stock Up 1.6 %

Shares of NYSE SAFE opened at $18.79 on Thursday. The firm has a market cap of $1.34 billion, a P/E ratio of -41.76 and a beta of 1.65. 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 1 year low of $15.00 and a 1 year high of $26.33. The firm’s 50 day moving average price is $19.14 and its 200 day moving average price is $20.19.

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

Safehold Announces Dividend

The company 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 dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Friday, June 28th. Safehold’s dividend payout ratio (DPR) is presently -157.78%.

Hedge Funds Weigh In On Safehold

Institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Safehold by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock valued at $161,949,000 after acquiring an additional 141,245 shares in the last quarter. UBS Group AG lifted its stake 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 last quarter. Aew Capital Management L P bought a new stake in shares of Safehold during the 4th quarter worth $25,605,000. Mesirow Institutional Investment Management Inc. grew its stake in Safehold by 33.5% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 664,542 shares of the company’s stock valued at $15,550,000 after buying an additional 166,846 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after acquiring an additional 249,500 shares during the period. 70.38% of the stock is currently owned by institutional investors.

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.