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

Safehold Inc. (NYSE:SAFE) has been given an average recommendation of “Moderate Buy” by the nine research firms that are presently covering the firm, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 12-month price target among analysts that have issued ratings on the stock in the last year is $28.22.

A number of equities analysts have weighed in on SAFE shares. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Thursday, September 19th. Mizuho raised their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada increased their price target on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wedbush restated a “neutral” rating and set a $23.00 price objective (down previously from $25.00) on shares of Safehold in a report on Monday, November 4th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Tuesday, October 29th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp raised its stake in Safehold by 7.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock valued at $9,080,000 after buying an additional 34,404 shares during the last quarter. Peregrine Capital Management LLC lifted its holdings in Safehold by 10.0% in the second quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock valued at $7,443,000 after acquiring an additional 35,046 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in Safehold in the second quarter worth about $204,000. Rhumbline Advisers grew its stake in shares of Safehold by 4.1% during the 2nd quarter. Rhumbline Advisers now owns 167,142 shares of the company’s stock valued at $3,224,000 after purchasing an additional 6,656 shares during the period. Finally, Quest Partners LLC purchased a new stake in shares of Safehold during the 2nd quarter valued at about $225,000. Institutional investors own 70.38% of the company’s stock.

Safehold Stock Performance

Shares of NYSE SAFE opened at $18.63 on Thursday. Safehold has a 12 month low of $17.91 and a 12 month high of $28.80. The business’s 50 day moving average is $20.92 and its two-hundred day moving average is $22.30. The company has a market cap of $1.33 billion, a P/E ratio of 10.96 and a beta of 1.66. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. Safehold’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the business earned $0.33 earnings per share. On average, equities analysts expect that Safehold will post 1.56 EPS for the current year.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be issued a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 3.80%. The ex-dividend date of this dividend is Monday, December 30th. Safehold’s dividend payout ratio (DPR) is currently 41.18%.

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.