Safehold (NYSE:SAFE) Shares Up 2.4% – Time to Buy?

Safehold Inc. (NYSE:SAFE) shares traded up 2.4% during mid-day trading on Monday . The stock traded as high as $18.42 and last traded at $18.35. 11,801 shares were traded during trading, a decline of 97% from the average session volume of 381,588 shares. The stock had previously closed at $17.92.

Wall Street Analysts Forecast Growth

SAFE has been the subject of several research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Thursday, February 6th. The Goldman Sachs Group cut their target price on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Wedbush reiterated a “neutral” rating and set a $19.00 price objective (down from $20.00) on shares of Safehold in a research note on Friday, February 7th. Finally, Morgan Stanley cut Safehold from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $30.00 to $19.00 in a report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, Safehold presently has an average rating of “Hold” and an average price target of $25.56.

Safehold Stock Performance

The stock has a 50 day moving average price of $17.61 and a two-hundred day moving average price of $20.31. The company has a debt-to-equity ratio of 1.82, a current ratio of 36.59 and a quick ratio of 36.59. The company has a market capitalization of $1.32 billion, a price-to-earnings ratio of 12.42 and a beta of 1.75.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same quarter last year, the company posted $0.36 EPS. On average, analysts predict that Safehold Inc. will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Monday, March 31st. Safehold’s dividend payout ratio (DPR) is presently 47.30%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Rhumbline Advisers lifted its holdings in Safehold by 0.4% during the fourth quarter. Rhumbline Advisers now owns 163,179 shares of the company’s stock worth $3,016,000 after acquiring an additional 663 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in shares of Safehold by 5.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 14,893 shares of the company’s stock valued at $391,000 after buying an additional 823 shares during the last quarter. Tower Research Capital LLC TRC increased its stake in shares of Safehold by 23.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock worth $83,000 after purchasing an additional 849 shares during the last quarter. M&T Bank Corp raised its stake in Safehold by 3.4% in the fourth quarter. M&T Bank Corp now owns 27,520 shares of the company’s stock valued at $509,000 after buying an additional 899 shares during the period. Finally, Corient Private Wealth LLC raised its stake in Safehold by 6.9% in the 4th quarter. Corient Private Wealth LLC now owns 14,260 shares of the company’s stock valued at $264,000 after acquiring an additional 924 shares during the period. Institutional investors own 70.38% of the company’s stock.

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.