Mizuho Cuts Safehold (NYSE:SAFE) Price Target to $19.00

Safehold (NYSE:SAFE) had its price objective lowered by Mizuho from $25.00 to $19.00 in a research note issued to investors on Thursday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

SAFE has been the subject of several other reports. The Goldman Sachs Group decreased their target price on shares of Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price objective on shares of Safehold in a research note on Monday, March 31st. JMP Securities reissued a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research note on Thursday, February 6th. Finally, Morgan Stanley cut Safehold from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $30.00 to $19.00 in a research report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, Safehold presently has a consensus rating of “Hold” and an average price target of $25.00.

Safehold Price Performance

NYSE SAFE opened at $17.71 on Thursday. The stock has a market capitalization of $1.27 billion, a P/E ratio of 11.97 and a beta of 1.62. The company has a debt-to-equity ratio of 1.82, a quick ratio of 36.59 and a current ratio of 36.59. The business’s fifty day moving average is $17.79 and its two-hundred day moving average is $20.06. Safehold has a 1 year low of $15.55 and a 1 year high of $28.80.

Safehold (NYSE:SAFE) last announced its earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same quarter last year, the firm earned $0.36 EPS. On average, research analysts forecast that Safehold will post 1.58 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.177 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.71 dividend on an annualized basis and a yield of 4.00%. Safehold’s payout ratio is 47.30%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its stake in shares of Safehold by 268.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock valued at $26,000 after buying an additional 1,020 shares in the last quarter. Versant Capital Management Inc lifted its stake in Safehold by 73.9% in the first quarter. Versant Capital Management Inc now owns 2,377 shares of the company’s stock valued at $44,000 after acquiring an additional 1,010 shares during the last quarter. Tower Research Capital LLC TRC grew its position in Safehold by 23.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock worth $83,000 after acquiring an additional 849 shares in the last quarter. Vestcor Inc acquired a new position in shares of Safehold during the 3rd quarter worth $110,000. Finally, FMR LLC raised its holdings in shares of Safehold by 24.9% during the 3rd quarter. FMR LLC now owns 5,840 shares of the company’s stock valued at $153,000 after purchasing an additional 1,163 shares in the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

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.