Safehold Inc. (NYSE:SAFE) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of Safehold Inc. (NYSE:SAFE) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are currently covering the stock, MarketBeat Ratings reports. Four equities research analysts have rated the stock with a hold recommendation and five have given a buy recommendation to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $28.22.

Several brokerages have weighed in on SAFE. The Goldman Sachs Group raised their price objective on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, June 28th. JMP Securities restated a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Thursday, May 16th. Mizuho lowered shares of Safehold from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $22.00 to $20.00 in a research note on Friday, May 10th. Royal Bank of Canada reduced their target price on Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Finally, Truist Financial lifted their price target on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th.

Institutional Investors Weigh In On Safehold

Institutional investors have recently added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in shares of Safehold by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock valued at $161,949,000 after buying an additional 141,245 shares in the last quarter. Paralel Advisors LLC bought a new position in shares of Safehold in the fourth quarter worth $1,944,000. Sei Investments Co. grew its position in shares of Safehold by 62.4% in the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after purchasing an additional 249,500 shares in the last quarter. Natixis Advisors L.P. grew its position in shares of Safehold by 372.6% in the fourth quarter. Natixis Advisors L.P. now owns 59,278 shares of the company’s stock valued at $1,386,000 after purchasing an additional 46,735 shares in the last quarter. Finally, Heitman Real Estate Securities LLC bought a new stake in shares of Safehold during the 4th quarter valued at $5,005,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

Safehold Price Performance

Shares of NYSE SAFE opened at $24.14 on Friday. The firm’s 50-day moving average price is $21.24 and its 200-day moving average price is $20.28. The firm has a market capitalization of $1.72 billion, a P/E ratio of -53.64 and a beta of 1.65. The company has a current ratio of 38.83, a quick ratio of 42.51 and a debt-to-equity ratio of 1.76. Safehold has a 1-year low of $15.00 and a 1-year high of $24.17.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The business had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $87.28 million. During the same quarter last year, the firm earned $0.35 EPS. The firm’s revenue for the quarter was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Safehold will post 1.59 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.177 per share. The ex-dividend date was Friday, June 28th. This represents a $0.71 annualized dividend and a dividend yield of 2.93%. Safehold’s payout ratio is -155.56%.

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.