Safehold (NYSE:SAFE) Price Target Raised to $29.00

Safehold (NYSE:SAFE) had its price target lifted by The Goldman Sachs Group from $25.00 to $29.00 in a research note released on Friday morning, Benzinga reports. They currently have a buy rating on the stock.

Several other equities analysts have also recently weighed in on the company. JMP Securities reissued a market outperform rating and set a $35.00 price objective on shares of Safehold in a research report on Thursday, May 16th. Mizuho lowered Safehold from a buy rating to a neutral rating and lowered their price target for the company from $22.00 to $20.00 in a research note on Friday, May 10th. JPMorgan Chase & Co. lowered their price target on Safehold from $23.00 to $21.00 and set a neutral rating on the stock in a research note on Wednesday, April 17th. Finally, Royal Bank of Canada lowered their price target on Safehold from $32.00 to $29.00 and set an outperform rating on the stock in a research note on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $27.22.

Safehold Price Performance

NYSE SAFE opened at $18.63 on Friday. Safehold has a twelve month low of $15.00 and a twelve month high of $26.33. The company has a debt-to-equity ratio of 1.78, a quick ratio of 42.51 and a current ratio of 42.51. The stock has a market capitalization of $1.33 billion, a PE ratio of -41.40 and a beta of 1.65. The stock has a 50-day simple moving average of $19.15 and a 200 day simple moving average of $20.23.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.39 by $0.04. Safehold had a positive return on equity of 4.43% and a negative net margin of 7.87%. The business had revenue of $93.20 million during the quarter, compared to analysts’ expectations of $88.20 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. Research analysts anticipate that Safehold will post 1.53 EPS for the current year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.177 dividend. The ex-dividend date of this dividend is Friday, June 28th. This represents a $0.71 annualized dividend and a dividend yield of 3.80%. Safehold’s dividend payout ratio is currently -157.78%.

Institutional Investors Weigh In On Safehold

Several large investors have recently modified their holdings of SAFE. Versant Capital Management Inc grew its position in Safehold by 197.7% during the 4th quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock worth $33,000 after acquiring an additional 931 shares during the last quarter. GAMMA Investing LLC bought a new stake in Safehold during the 4th quarter worth approximately $33,000. Roble Belko & Company Inc bought a new stake in Safehold during the 1st quarter worth approximately $45,000. Fifth Third Bancorp grew its position in Safehold by 78.0% during the 4th quarter. Fifth Third Bancorp now owns 2,482 shares of the company’s stock worth $58,000 after acquiring an additional 1,088 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Safehold by 195.8% during the 3rd quarter. PNC Financial Services Group Inc. now owns 4,523 shares of the company’s stock worth $81,000 after acquiring an additional 2,994 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors.

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.