Safehold Inc. (NYSE:SAFE) Receives $26.75 Consensus Target Price from Analysts

Shares of Safehold Inc. (NYSE:SAFE) have been given an average rating of “Moderate Buy” by the nine analysts that are currently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $28.56.

Several equities research analysts have commented on the stock. The Goldman Sachs Group upped their target price on shares of Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Thursday. Truist Financial lifted their target price on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, Wedbush increased their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st.

Safehold Stock Down 1.3 %

NYSE:SAFE opened at $27.49 on Tuesday. 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 has a 12-month low of $15.00 and a 12-month high of $28.80. The stock’s fifty day simple moving average is $23.80 and its 200-day simple moving average is $20.95. The firm has a market capitalization of $1.96 billion, a P/E ratio of -61.84 and a beta of 1.65.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $87.28 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter last year, the business earned $0.35 earnings per share. Equities research analysts expect that Safehold will post 1.59 earnings per share for the current year.

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be issued a $0.177 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 2.58%. Safehold’s dividend payout ratio (DPR) is -155.56%.

Hedge Funds Weigh In On Safehold

A number of large investors have recently bought and sold shares of the company. GAMMA Investing LLC lifted its position in Safehold by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock worth $44,000 after buying an additional 702 shares in the last quarter. Roble Belko & Company Inc bought a new position in Safehold in the first quarter valued at approximately $45,000. PNC Financial Services Group Inc. grew its stake in Safehold by 65.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock valued at $175,000 after purchasing an additional 2,965 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Safehold by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after purchasing an additional 676 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Safehold during the 2nd quarter worth approximately $204,000. 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.