Safehold (NYSE:SAFE) Price Target Lowered to $17.00 at Royal Bank Of Canada

Safehold (NYSE:SAFE) had its price objective decreased by Royal Bank Of Canada from $20.00 to $17.00 in a research note published on Thursday,Benzinga reports. Royal Bank Of Canada currently has an outperform rating on the stock.

Several other research analysts have also recently weighed in on the stock. Weiss Ratings reiterated a “hold (c-)” rating on shares of Safehold in a report on Wednesday, October 8th. Cantor Fitzgerald set a $17.00 price target on Safehold and gave the company a “neutral” rating in a research note on Wednesday, October 1st. JPMorgan Chase & Co. reduced their price objective on Safehold from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, July 9th. JMP Securities dropped their target price on Safehold from $32.00 to $28.00 and set a “market outperform” rating on the stock in a research report on Tuesday, August 12th. Finally, Mizuho upped their price target on Safehold from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, September 11th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, Safehold has a consensus rating of “Hold” and a consensus price target of $19.56.

Safehold Stock Down 10.7%

NYSE:SAFE opened at $12.84 on Thursday. Safehold has a 1 year low of $12.83 and a 1 year high of $21.90. The stock has a 50-day moving average price of $15.58 and a two-hundred day moving average price of $15.35. The stock has a market cap of $921.56 million, a price-to-earnings ratio of 8.98, a PEG ratio of 1.31 and a beta of 1.87. The company has a current ratio of 36.02, a quick ratio of 36.02 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.30 EPS for the quarter. Safehold had a return on equity of 4.70% and a net margin of 27.45%.The company had revenue of $50.20 million for the quarter. As a group, equities analysts expect that Safehold will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a dividend of $0.177 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.71 annualized dividend and a yield of 5.5%. Safehold’s dividend payout ratio is 48.95%.

Institutional Investors Weigh In On Safehold

Institutional investors and hedge funds have recently made changes to their positions in the stock. Hantz Financial Services Inc. boosted its holdings in shares of Safehold by 928.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,861 shares of the company’s stock valued at $29,000 after buying an additional 1,680 shares during the last quarter. US Bancorp DE lifted its stake in Safehold by 136.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the company’s stock valued at $41,000 after acquiring an additional 1,278 shares during the last quarter. Russell Investments Group Ltd. grew its position in shares of Safehold by 115.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,344 shares of the company’s stock valued at $52,000 after acquiring an additional 1,789 shares during the period. GAMMA Investing LLC grew its position in shares of Safehold by 117.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,923 shares of the company’s stock valued at $61,000 after acquiring an additional 2,117 shares during the period. Finally, Versant Capital Management Inc increased its stake in shares of Safehold by 179.1% during the 3rd quarter. Versant Capital Management Inc now owns 4,225 shares of the company’s stock worth $65,000 after purchasing an additional 2,711 shares during the last quarter. 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.