Royal Bank of Canada Issues Positive Forecast for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE) had its price objective upped by Royal Bank of Canada from $30.00 to $31.00 in a report released on Wednesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities research analysts have also recently issued research reports about the company. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a report on Thursday, September 19th. JMP Securities reiterated a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research report on Tuesday. The Goldman Sachs Group lifted their price target on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Truist Financial raised their target price 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 upped their price target on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.78.

Safehold Trading Down 1.4 %

Shares of SAFE stock opened at $22.17 on Wednesday. Safehold has a twelve month low of $15.35 and a twelve month high of $28.80. The company has a market capitalization of $1.58 billion, a price-to-earnings ratio of -49.27 and a beta of 1.66. The firm has a 50-day moving average price of $25.16 and a 200 day moving average price of $21.94. The company has a current ratio of 38.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.76.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The business had revenue of $90.70 million during the quarter, compared to analyst estimates of $89.45 million. During the same quarter in the previous year, the business posted $0.33 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. Research analysts forecast that Safehold will post 1.59 earnings per share for the current fiscal year.

Safehold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio is presently -155.56%.

Institutional Trading of Safehold

A number of institutional investors have recently added to or reduced their stakes in SAFE. Long Pond Capital LP lifted its stake in shares of Safehold by 14.9% during the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after purchasing an additional 345,661 shares in the last quarter. Sei Investments Co. lifted its position in Safehold by 62.4% during the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after acquiring an additional 249,500 shares in the last quarter. Edgestream Partners L.P. purchased a new position in Safehold in the 1st quarter worth approximately $4,400,000. Vanguard Group Inc. grew its position in Safehold by 1.8% in the first 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 purchased a new stake in shares of Safehold during the first quarter valued at approximately $1,979,000. 70.38% of the stock is owned by hedge funds and other 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.