Safehold (NYSE:SAFE) Sets New 12-Month High Following Analyst Upgrade

Shares of Safehold Inc. (NYSE:SAFE) reached a new 52-week high on Wednesday after The Goldman Sachs Group raised their price target on the stock from $25.00 to $38.00. The Goldman Sachs Group currently has a buy rating on the stock. Safehold traded as high as $27.95 and last traded at $27.92, with a volume of 21842 shares. The stock had previously closed at $27.20.

Several other research firms have also recently commented on SAFE. Truist Financial boosted their target price on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Wedbush boosted their price objective on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.88.

Institutional Investors Weigh In On Safehold

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Safehold by 1.8% during the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after purchasing an additional 141,245 shares during the period. Paralel Advisors LLC acquired a new position in shares of Safehold during the 4th quarter worth approximately $1,944,000. Sei Investments Co. raised its stake in 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 acquiring an additional 249,500 shares during the period. Heitman Real Estate Securities LLC bought a new stake in Safehold in the 4th quarter valued at $5,005,000. Finally, Edgestream Partners L.P. acquired a new stake in Safehold during the 1st quarter valued at $4,400,000. 70.38% of the stock is owned by institutional investors.

Safehold Stock Performance

The stock has a market capitalization of $1.99 billion, a price-to-earnings ratio of -60.44 and a beta of 1.65. The company’s fifty day simple moving average is $23.63 and its 200 day simple moving average is $20.90. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $89.90 million for the quarter, compared to analyst estimates of $87.28 million. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. Safehold’s quarterly revenue was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 EPS. On average, equities research analysts expect that Safehold Inc. will post 1.59 earnings per share for the current year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 2.54%. The ex-dividend date of this dividend is Monday, September 30th. Safehold’s dividend payout ratio is currently -155.56%.

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.