Safehold (NYSE:SAFE) Price Target Increased to $38.00 by Analysts at The Goldman Sachs Group

Safehold (NYSE:SAFE) had its target price raised by The Goldman Sachs Group from $25.00 to $38.00 in a research report released on Wednesday morning, Benzinga reports. The firm currently has a buy rating on the stock.

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

Safehold Stock Up 2.3 %

Shares of NYSE SAFE opened at $27.83 on Wednesday. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76. The business’s 50 day moving average is $23.63 and its two-hundred day moving average is $20.90. Safehold has a 52-week low of $15.00 and a 52-week high of $28.40. The firm has a market cap of $1.99 billion, a price-to-earnings ratio of -60.44 and a beta of 1.65.

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

Safehold Dividend Announcement

The company 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 dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 2.54%. The ex-dividend date is Monday, September 30th. Safehold’s payout ratio is -155.56%.

Institutional Trading of Safehold

Several institutional investors and hedge funds have recently bought and sold shares of SAFE. ProShare Advisors LLC grew its stake in shares of Safehold by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after purchasing an additional 676 shares during the last quarter. GAMMA Investing LLC grew its position in Safehold by 49.3% in the 1st quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock valued at $44,000 after buying an additional 702 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Safehold by 7.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock valued at $298,000 after buying an additional 949 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in Safehold by 4.7% in the 1st quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company’s stock valued at $529,000 after buying an additional 1,156 shares during the period. Finally, Nomura Asset Management Co. Ltd. raised its position in Safehold by 2.6% during the 4th quarter. Nomura Asset Management Co. Ltd. now owns 50,800 shares of the company’s stock worth $1,189,000 after buying an additional 1,300 shares during the last quarter. Hedge funds and other institutional investors 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.