Analysts Set Safehold Inc. (NYSE:SAFE) Target Price at $28.22

Shares of Safehold Inc. (NYSE:SAFE) have received an average rating of “Moderate Buy” from the nine brokerages that are covering the firm, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $28.22.

A number of research analysts have issued reports on the company. Truist Financial lifted their price objective on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. The Goldman Sachs Group reduced their price target on shares of Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a report on Thursday, September 19th. Royal Bank of Canada boosted their target price on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Mizuho raised their price target on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st.

Institutional Trading of Safehold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAFE. Vanguard Group Inc. grew its holdings in Safehold by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after acquiring an additional 141,245 shares during the period. Sei Investments Co. grew its stake in shares of Safehold by 62.4% during the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after purchasing an additional 249,500 shares during the period. Edgestream Partners L.P. bought a new stake in Safehold in the first quarter valued at about $4,400,000. SG Americas Securities LLC acquired a new position in Safehold in the first quarter valued at about $1,979,000. Finally, Angeles Wealth Management LLC bought a new position in Safehold during the second quarter worth about $585,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Stock Performance

NYSE SAFE opened at $21.20 on Wednesday. Safehold has a twelve month low of $16.27 and a twelve month high of $28.80. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. The stock has a market cap of $1.51 billion, a P/E ratio of 12.47 and a beta of 1.68. The company’s 50-day simple moving average is $24.54 and its 200 day simple moving average is $22.03.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.33 EPS. As a group, research analysts forecast that Safehold will post 1.57 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.177 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a yield of 3.34%. Safehold’s payout ratio is 41.76%.

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.