Safehold (NYSE:SAFE) Price Target Lowered to $20.00 at Royal Bank of Canada

Safehold (NYSE:SAFE) had its price target decreased by Royal Bank of Canada from $21.00 to $20.00 in a research report sent to investors on Monday,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Other equities analysts also recently issued reports about the company. Morgan Stanley lowered their price objective on Safehold from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 29th. Mizuho dropped their price objective on shares of Safehold from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of Safehold in a report on Monday, March 31st. The Goldman Sachs Group lowered their target price on shares of Safehold from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday, May 14th. Finally, JMP Securities restated a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research note on Thursday, February 6th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, Safehold has a consensus rating of “Moderate Buy” and an average price target of $23.50.

Safehold Stock Down 0.6%

Shares of NYSE:SAFE opened at $15.57 on Monday. The firm has a market capitalization of $1.12 billion, a PE ratio of 10.52 and a beta of 1.86. Safehold has a 1 year low of $13.68 and a 1 year high of $28.80. 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 firm’s 50-day moving average is $16.42 and its two-hundred day moving average is $17.89.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. Safehold had a net margin of 28.92% and a return on equity of 4.76%. The firm had revenue of $97.68 million during the quarter, compared to analysts’ expectations of $95.55 million. During the same quarter in the previous year, the business posted $0.43 earnings per share. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. Analysts predict that Safehold will post 1.58 EPS for the current year.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a dividend of $0.177 per share. The ex-dividend date was Monday, March 31st. This represents a $0.71 annualized dividend and a yield of 4.55%. Safehold’s dividend payout ratio is currently 47.95%.

Hedge Funds Weigh In On Safehold

Several large investors have recently bought and sold shares of the stock. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Safehold by 2.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 346,067 shares of the company’s stock worth $6,478,000 after purchasing an additional 8,348 shares in the last quarter. Goldman Sachs Group Inc. increased its position in Safehold by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company’s stock worth $8,120,000 after buying an additional 15,280 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Safehold by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company’s stock valued at $576,000 after buying an additional 1,308 shares during the last quarter. AQR Capital Management LLC lifted its stake in Safehold by 1,106.2% in the first quarter. AQR Capital Management LLC now owns 195,530 shares of the company’s stock valued at $3,660,000 after buying an additional 179,319 shares during the last quarter. Finally, Amundi boosted its holdings in shares of Safehold by 2.6% in the first quarter. Amundi now owns 50,855 shares of the company’s stock valued at $906,000 after acquiring an additional 1,306 shares during the period. Institutional investors and hedge funds own 70.38% 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.