Safehold Inc. (NYSE:SAFE) Stock Has Consensus Price Target of $15.67

Shares of Safehold Inc. (NYSE:SAFE) have earned a consensus recommendation of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price target among brokers that have issued ratings on the stock in the last year is $15.17.

Several equities research analysts recently issued reports on the stock. Truist Financial decreased their target price on shares of Safehold from $17.00 to $13.00 and set a “hold” rating on the stock in a research report on Monday, September 28th. Raymond James Financial started coverage on Safehold in a report on Wednesday, August 19th. They set a “market perform” rating for the company. JPMorgan Chase & Co. downgraded shares of Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 target price for the company. in a research report on Thursday, September 24th. Mizuho cut their price objective on Safehold from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, September 17th. Finally, Zacks Research raised Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st.

Insider Activity at Safehold

In related news, Director Robin Josephs sold 9,500 shares of the business’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $14.56, for a total transaction of $138,320.00. Following the transaction, the director directly owned 89,068 shares of the company’s stock, valued at approximately $1,296,830.08. The trade was a 9.64% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Safehold

A number of institutional investors and hedge funds have recently bought and sold shares of SAFE. Legal & General Group Plc purchased a new stake in shares of Safehold during the second quarter worth about $4,603,000. Bank of America Corp DE purchased a new position in Safehold in the second quarter valued at about $5,153,000. BlackRock Inc. boosted its holdings in Safehold by 2.1% in the second quarter. BlackRock Inc. now owns 9,938,575 shares of the company’s stock valued at $156,036,000 after purchasing an additional 200,628 shares during the last quarter. Man Group plc purchased a new position in Safehold in the second quarter valued at about $1,540,000. Finally, Infrastructure Capital Advisors LLC acquired a new stake in Safehold during the 2nd quarter valued at approximately $1,138,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Stock Down 0.1%

Shares of NYSE:SAFE opened at $11.99 on Wednesday. The stock’s 50-day moving average price is $14.25 and its two-hundred day moving average price is $14.97. The company has a current ratio of 34.37, a quick ratio of 34.36 and a debt-to-equity ratio of 1.77. Safehold has a 12-month low of $11.60 and a 12-month high of $17.45. The firm has a market cap of $849.37 million, a price-to-earnings ratio of 7.40, a PEG ratio of 3.58 and a beta of 1.78.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $114.65 million during the quarter, compared to analysts’ expectations of $110.78 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. On average, research analysts forecast that Safehold will post 1.64 EPS for the current year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a $0.1770 dividend. The ex-dividend date is Wednesday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 5.9%. Safehold’s dividend payout ratio (DPR) is 43.21%.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning ground leases. Through its ground-lease model, the company acquires and owns the land beneath commercial, residential, and other real estate assets while leasing that land to property owners under long-term agreements. This structure allows building owners to access the value of the land without selling the underlying property.

Safehold’s portfolio has included ground leases supporting multifamily, office, hotel, life sciences, industrial, and other commercial properties.