Safehold Inc. (NYSE:SAFE) Given Consensus Rating of “Moderate Buy” by Brokerages

Safehold Inc. (NYSE:SAFE) has received a consensus rating of “Moderate Buy” from the nine analysts that are covering the stock, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among analysts that have covered the stock in the last year is $27.89.

SAFE has been the topic of a number of recent analyst reports. The Goldman Sachs Group lifted their price target on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada reduced their target price on Safehold from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. JPMorgan Chase & Co. lowered their price target on Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. JMP Securities reiterated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a report on Thursday, May 16th. Finally, Mizuho lowered Safehold from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $22.00 to $20.00 in a research report on Friday, May 10th.

Safehold Trading Up 1.3 %

NYSE SAFE opened at $23.33 on Monday. Safehold has a 12 month low of $15.00 and a 12 month high of $24.03. The stock has a 50-day simple moving average of $20.03 and a 200 day simple moving average of $20.01. The company has a current ratio of 38.83, a quick ratio of 42.51 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $1.67 billion, a PE ratio of -51.84 and a beta of 1.65.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $87.28 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. Safehold’s revenue was up 4.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.35 EPS. Research analysts forecast that Safehold will post 1.59 EPS for the current year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 3.03%. The ex-dividend date was Friday, June 28th. Safehold’s payout ratio is -157.78%.

Hedge Funds Weigh In On Safehold

Several hedge funds have recently made changes to their positions in SAFE. Strs Ohio grew its position in Safehold by 0.4% in the fourth quarter. Strs Ohio now owns 145,864 shares of the company’s stock valued at $3,413,000 after purchasing an additional 600 shares in the last quarter. ProShare Advisors LLC increased its position in shares of Safehold by 7.5% in the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after acquiring an additional 676 shares during the last quarter. Handelsbanken Fonder AB increased its position in shares of Safehold by 6.8% in the fourth quarter. Handelsbanken Fonder AB now owns 11,043 shares of the company’s stock valued at $258,000 after acquiring an additional 700 shares during the last quarter. GAMMA Investing LLC raised its holdings in Safehold by 49.3% during the first quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock worth $44,000 after acquiring an additional 702 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its position in Safehold by 7.0% during the first quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock valued at $298,000 after purchasing an additional 949 shares during the last quarter. 70.38% of the stock is owned by institutional investors.

About Safehold

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.