Brokerages Set Safehold Inc. (NYSE:SAFE) Price Target at $28.56

Safehold Inc. (NYSE:SAFE) has received an average recommendation of “Moderate Buy” from the nine analysts that are presently covering the stock, MarketBeat reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average twelve-month target price among brokers that have issued a report on the stock in the last year is $28.56.

SAFE has been the subject of a number of research reports. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research note on Thursday, September 19th. The Goldman Sachs Group lifted their target price on Safehold from $25.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Truist Financial lifted their price target on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, Wedbush increased their price objective on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st.

Institutional Investors Weigh In On Safehold

Several institutional investors have recently modified their holdings of the business. Long Pond Capital LP grew its holdings in shares of Safehold by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after buying an additional 345,661 shares during the period. Sei Investments Co. raised its position in Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after buying an additional 249,500 shares during the last quarter. Edgestream Partners L.P. acquired a new position in Safehold during the first quarter worth $4,400,000. Vanguard Group Inc. grew its holdings in shares of Safehold by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock valued at $161,949,000 after acquiring an additional 141,245 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Safehold during the first quarter worth about $1,979,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Price Performance

Shares of SAFE opened at $25.24 on Friday. Safehold has a one year low of $15.00 and a one year high of $28.80. The stock’s fifty day moving average is $25.13 and its 200-day moving average is $21.69. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83. The firm has a market capitalization of $1.80 billion, a price-to-earnings ratio of -56.09 and a beta of 1.66.

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

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.177 per share. The ex-dividend date was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 2.81%. Safehold’s payout ratio is -155.56%.

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.