Analysts Set Safehold Inc. (NYSE:SAFE) Target Price at $28.40

Safehold Inc. (NYSE:SAFE) has received a consensus recommendation of “Moderate Buy” from the nine research firms that are currently covering the firm, Marketbeat reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price objective among brokerages that have covered the stock in the last year is $28.40.

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Mizuho reduced their price objective on shares of Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. The Goldman Sachs Group boosted their price objective on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Jefferies Financial Group initiated coverage on shares of Safehold in a research note on Thursday, January 4th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, Royal Bank of Canada reduced their price objective on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th.

Hedge Funds Weigh In On Safehold

Several large investors have recently bought and sold shares of the stock. Strs Ohio raised its stake in Safehold by 0.4% during the 4th quarter. Strs Ohio now owns 145,864 shares of the company’s stock valued at $3,413,000 after purchasing an additional 600 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in shares of Safehold by 5.6% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 13,269 shares of the company’s stock valued at $236,000 after buying an additional 700 shares in the last quarter. Handelsbanken Fonder AB raised its stake in shares of Safehold by 6.8% in the 4th quarter. Handelsbanken Fonder AB now owns 11,043 shares of the company’s stock valued at $258,000 after buying an additional 700 shares in the last quarter. GAMMA Investing LLC raised its stake in shares of Safehold by 49.3% in the 1st quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock valued at $44,000 after buying an additional 702 shares in the last quarter. Finally, Versant Capital Management Inc raised its stake in shares of Safehold by 197.7% in the 4th quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock valued at $33,000 after buying an additional 931 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Stock Performance

SAFE stock opened at $18.20 on Friday. 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 company has a market capitalization of $1.30 billion, a price-to-earnings ratio of -22.46 and a beta of 1.46. Safehold has a 12 month low of $15.00 and a 12 month high of $29.11. The firm has a 50 day moving average of $19.97 and a two-hundred day moving average of $19.91.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, February 12th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The company had revenue of $103.00 million during the quarter, compared to the consensus estimate of $84.89 million. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. During the same period in the previous year, the firm posted ($6.00) earnings per share. As a group, equities analysts anticipate that Safehold will post 1.53 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 3.89%. The ex-dividend date of this dividend was Wednesday, March 27th. Safehold’s payout ratio is currently -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.