Safehold Inc. (NYSE:SAFE) Receives $27.22 Consensus PT from Brokerages

Shares of Safehold Inc. (NYSE:SAFE) have been given an average recommendation of “Moderate Buy” by the nine analysts that are covering the stock, Marketbeat Ratings reports. Four analysts have rated the stock with a hold rating and five have issued a buy rating on the company. The average 1 year target price among brokerages that have covered the stock in the last year is $27.89.

A number of brokerages have issued reports on SAFE. Mizuho cut shares of Safehold from a “buy” rating to a “neutral” rating and dropped their target price for the company from $22.00 to $20.00 in a report on Friday, May 10th. JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Thursday, May 16th. Royal Bank of Canada dropped their price objective on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. JPMorgan Chase & Co. dropped their price target on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, Wedbush boosted their target price on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday.

Safehold Stock Performance

Shares of SAFE stock opened at $23.33 on Monday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 42.51 and a current ratio of 39.68. The firm has a market cap of $1.67 billion, a price-to-earnings ratio of -51.84 and a beta of 1.64. The stock’s 50-day moving average is $20.03 and its two-hundred day moving average is $20.02. Safehold has a 1 year low of $15.00 and a 1 year high of $24.03.

Safehold (NYSE:SAFE) last released its earnings results on Monday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The business had revenue of $89.90 million for the quarter, compared to analyst estimates of $87.28 million. During the same quarter in the previous year, the company posted $0.35 earnings per share. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. Analysts predict that Safehold will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a dividend of $0.177 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.03%. Safehold’s dividend payout ratio is presently -157.78%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new position in Safehold during the 4th quarter worth approximately $33,000. Roble Belko & Company Inc acquired a new position in Safehold during the 1st quarter worth $45,000. Fifth Third Bancorp increased its holdings in shares of 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 purchasing an additional 1,088 shares during the period. PNC Financial Services Group Inc. increased its holdings in shares of Safehold by 65.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock worth $175,000 after purchasing an additional 2,965 shares during the period. Finally, ProShare Advisors LLC increased its stake in 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 period. 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.