Analysts Set Safehold Inc. (NYSE:SAFE) Target Price at $28.86

Shares of Safehold Inc. (NYSE:SAFE) have received an average rating of “Moderate Buy” from the six ratings firms that are covering the company, MarketBeat reports. Two investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price target among brokers that have issued ratings on the stock in the last year is $28.86.

Several equities research analysts have recently weighed in on SAFE shares. Truist Financial dropped their target price on shares of Safehold from $31.00 to $24.00 and set a “hold” rating for the company in a research report on Monday, August 21st. Wedbush started coverage on Safehold in a research note on Tuesday, October 3rd. They issued a “neutral” rating and a $19.00 price objective on the stock. Royal Bank of Canada reduced their target price on shares of Safehold from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, August 14th. B. Riley dropped their price target on Safehold from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, September 6th. Finally, Mizuho reduced their target price on Safehold from $31.00 to $25.00 in a report on Thursday, August 10th.

Safehold Stock Performance

Shares of NYSE:SAFE opened at $16.30 on Friday. The business’s 50-day simple moving average is $18.14 and its 200 day simple moving average is $22.59. Safehold has a one year low of $15.00 and a one year high of $36.76. The company has a debt-to-equity ratio of 1.78, a quick ratio of 39.19 and a current ratio of 39.19. The company has a market cap of $1.04 billion, a P/E ratio of -3.29 and a beta of 1.34.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Tuesday, August 1st. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.36 by ($0.01). The business had revenue of $85.70 million during the quarter, compared to analyst estimates of $82.90 million. Safehold had a positive return on equity of 0.35% and a negative net margin of 14.88%. The company’s revenue was up 41.9% compared to the same quarter last year. During the same quarter last year, the firm posted ($4.00) EPS. On average, sell-side analysts forecast that Safehold will post 1.27 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Investors of record on Friday, September 29th were issued a $0.177 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.71 annualized dividend and a yield of 4.34%. Safehold’s dividend payout ratio (DPR) is currently -14.33%.

Insider Buying and Selling at Safehold

In related news, CEO Jay Sugarman purchased 65,420 shares of Safehold stock in a transaction on Tuesday, August 8th. The stock was purchased at an average cost of $21.40 per share, with a total value of $1,399,988.00. Following the acquisition, the chief executive officer now directly owns 156,446 shares in the company, valued at $3,347,944.40. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 4.50% of the company’s stock.

Institutional Investors Weigh In On Safehold

Institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. grew its holdings in shares of Safehold by 51.4% during the first quarter. BlackRock Inc. now owns 7,325,064 shares of the company’s stock worth $211,511,000 after purchasing an additional 2,487,183 shares during the last quarter. Long Pond Capital LP increased its position in shares of Safehold by 26.9% in the second quarter. Long Pond Capital LP now owns 4,135,495 shares of the company’s stock valued at $98,135,000 after acquiring an additional 876,136 shares during the last quarter. Vanguard Group Inc. raised its position in Safehold by 5.8% during the third quarter. Vanguard Group Inc. now owns 2,971,042 shares of the company’s stock worth $78,614,000 after acquiring an additional 161,767 shares in the last quarter. NewEdge Wealth LLC raised its stake in Safehold by 45.6% in the first quarter. NewEdge Wealth LLC now owns 2,813,990 shares of the company’s stock valued at $82,647,000 after buying an additional 881,858 shares during the period. Finally, T. Rowe Price Investment Management Inc. lifted its holdings in Safehold by 24.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,241,562 shares of the company’s stock valued at $64,154,000 after purchasing an additional 443,049 shares during the last quarter. Institutional investors own 71.44% 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.