Safehold Inc. (NYSE:SAFE) Receives $29.80 Average Target Price from Brokerages

Safehold Inc. (NYSE:SAFE) has been given an average rating of “Moderate Buy” by the nine ratings firms that are presently covering the stock, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation and seven have given a buy recommendation to the company. The average 1-year price objective among brokers that have issued ratings on the stock in the last year is $29.80.

Several research analysts recently commented on SAFE shares. Jefferies Financial Group started coverage on Safehold in a research report on Thursday, January 4th. They issued a “buy” rating and a $33.00 target price for the company. Mizuho reduced their target price on Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. The Goldman Sachs Group raised their target price on Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Royal Bank of Canada reduced their target price on Safehold from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Finally, JMP Securities began coverage on Safehold in a research note on Tuesday, January 23rd. They set an “outperform” rating and a $35.00 price objective for the company.

Institutional Trading of Safehold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. increased its position in Safehold by 65.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock worth $175,000 after purchasing an additional 2,965 shares during the period. American International Group Inc. increased its position in Safehold by 9.2% in the fourth quarter. American International Group Inc. now owns 26,302 shares of the company’s stock worth $615,000 after purchasing an additional 2,224 shares during the period. FIL Ltd acquired a new stake in Safehold in the fourth quarter worth about $3,464,000. Price T Rowe Associates Inc. MD increased its position in Safehold by 6.7% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 37,104 shares of the company’s stock worth $869,000 after purchasing an additional 2,332 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Safehold by 7.4% during the fourth quarter. Legal & General Group Plc now owns 404,308 shares of the company’s stock worth $9,461,000 after buying an additional 27,837 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Stock Up 2.1 %

Shares of Safehold stock opened at $20.60 on Tuesday. Safehold has a 12-month low of $15.00 and a 12-month high of $30.29. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78. The stock has a market capitalization of $1.46 billion, a P/E ratio of -25.43 and a beta of 1.46. The stock has a 50 day moving average price of $20.47 and a two-hundred day moving average price of $19.75.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, February 12th. The company reported $0.36 earnings per share for the quarter, beating the consensus estimate of $0.35 by $0.01. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The company had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $84.89 million. During the same period in the prior year, the business earned ($6.00) earnings per share. Safehold’s revenue for the quarter was up 40.3% compared to the same quarter last year. Equities analysts expect that Safehold will post 1.52 earnings per share for the current year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, April 15th. Investors of record on Thursday, March 28th will be given a $0.177 dividend. The ex-dividend date of this dividend is Wednesday, March 27th. This represents a $0.71 dividend on an annualized basis and a yield of 3.44%. Safehold’s payout ratio is -87.65%.

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.