Safehold (NYSE:SAFE) Given Neutral Rating at Wedbush

Wedbush reissued their neutral rating on shares of Safehold (NYSE:SAFE) in a research note released on Monday morning,RTT News reports. They currently have a $23.00 target price on the stock, down from their previous target price of $25.00. Wedbush also issued estimates for Safehold’s Q4 2024 earnings at $0.34 EPS, FY2024 earnings at $1.55 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.39 EPS and FY2025 earnings at $1.61 EPS.

Other equities analysts also recently issued research reports about the stock. The Goldman Sachs Group dropped their price target on shares of Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Royal Bank of Canada upped their price objective on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a report on Thursday, September 19th. Truist Financial boosted their price objective on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Finally, Mizuho upped 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 Thursday, October 31st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.22.

Safehold Price Performance

Shares of SAFE stock opened at $20.56 on Monday. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The company has a market capitalization of $1.47 billion, a PE ratio of 12.09 and a beta of 1.68. The firm’s 50-day moving average is $24.62 and its two-hundred day moving average is $22.02. Safehold has a 12 month low of $16.27 and a 12 month high of $28.80.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.33 EPS. Analysts predict that Safehold will post 1.57 earnings per share for the current year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.177 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 3.44%. Safehold’s dividend payout ratio is currently 41.76%.

Institutional Investors Weigh In On Safehold

Hedge funds have recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its holdings in Safehold by 108.7% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after acquiring an additional 920 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Safehold by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after purchasing an additional 471 shares in the last quarter. KBC Group NV lifted its stake in shares of Safehold by 79.3% in the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after purchasing an additional 1,275 shares during the period. First Trust Direct Indexing L.P. purchased a new stake in Safehold during the third quarter worth about $234,000. Finally, ProShare Advisors LLC boosted its holdings in Safehold by 7.5% during the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after buying an additional 676 shares in the last quarter. Institutional investors and hedge funds 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.