Safehold (NYSE:SAFE) Price Target Lowered to $16.00 at Mizuho

Safehold (NYSE:SAFE) had its price objective reduced by Mizuho from $19.00 to $16.00 in a research note published on Monday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other equities research analysts have also recently weighed in on SAFE. Truist Financial reduced their price objective on Safehold from $20.00 to $18.00 and set a “hold” rating on the stock in a research note on Monday, May 19th. Royal Bank of Canada cut their target price on Safehold from $21.00 to $20.00 and set an “outperform” rating on the stock in a research report on Monday, May 19th. Morgan Stanley decreased their price target on Safehold from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 29th. Wedbush reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Safehold in a research note on Monday, March 31st. Finally, The Goldman Sachs Group cut their price objective on shares of Safehold from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $23.13.

Safehold Trading Up 0.1%

SAFE stock opened at $15.28 on Monday. The firm has a fifty day moving average price of $15.30 and a 200 day moving average price of $17.12. Safehold has a fifty-two week low of $13.68 and a fifty-two week high of $28.80. The company has a debt-to-equity ratio of 1.82, a quick ratio of 36.59 and a current ratio of 36.59. The firm has a market cap of $1.10 billion, a PE ratio of 10.33 and a beta of 1.80.

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

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 4.63%. The ex-dividend date of this dividend is Monday, June 30th. Safehold’s dividend payout ratio (DPR) is presently 47.95%.

Institutional Trading of Safehold

Several institutional investors and hedge funds have recently made changes to their positions in the business. Smartleaf Asset Management LLC grew its holdings in shares of Safehold by 268.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock worth $26,000 after purchasing an additional 1,020 shares during the last quarter. US Bancorp DE boosted its position in Safehold by 136.4% in the 1st quarter. US Bancorp DE now owns 2,215 shares of the company’s stock valued at $41,000 after buying an additional 1,278 shares during the period. Versant Capital Management Inc grew its stake in Safehold by 73.9% in the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company’s stock worth $44,000 after acquiring an additional 1,010 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in Safehold by 23.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock worth $83,000 after acquiring an additional 849 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its position in shares of Safehold by 16.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company’s stock worth $156,000 after acquiring an additional 1,173 shares during the period. 70.38% of the stock is currently owned by institutional investors.

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.