Safehold (NYSE:SAFE) Receives Market Outperform Rating from JMP Securities

JMP Securities restated their market outperform rating on shares of Safehold (NYSE:SAFE) in a report published on Thursday,Benzinga reports. The brokerage currently has a $32.00 price target on the stock.

A number of other research firms have also recently weighed in on SAFE. Truist Financial reduced their price target on Safehold from $20.00 to $18.00 and set a “hold” rating for the company in a report on Monday, May 19th. The Goldman Sachs Group reduced their target price on Safehold from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Royal Bank Of Canada reduced their target price on Safehold from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, May 19th. Mizuho reduced their target price on Safehold from $19.00 to $16.00 and set a “neutral” rating for the company in a report on Monday, June 16th. Finally, Wedbush reissued a “neutral” rating and set a $20.00 target price on shares of Safehold in a report on Monday, March 31st. 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.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $22.75.

Safehold Stock Performance

NYSE SAFE opened at $16.05 on Thursday. The stock has a market capitalization of $1.15 billion, a price-to-earnings ratio of 10.99, a PEG ratio of 1.48 and a beta of 1.80. Safehold has a twelve month low of $13.68 and a twelve month high of $28.80. The company has a current ratio of 37.17, a quick ratio of 37.17 and a debt-to-equity ratio of 1.82. The stock has a 50-day moving average of $15.34 and a 200 day moving average of $16.86.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $97.68 million during the quarter, compared to analysts’ expectations of $95.55 million. Safehold had a return on equity of 4.76% and a net margin of 28.20%. Safehold’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.43 EPS. Sell-side analysts anticipate that Safehold will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.177 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.41%. Safehold’s dividend payout ratio (DPR) is presently 48.63%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its position in 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 acquiring an additional 1,020 shares during the period. US Bancorp DE grew its position in Safehold by 136.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the company’s stock worth $41,000 after acquiring an additional 1,278 shares during the period. Versant Capital Management Inc grew its position in Safehold by 73.9% in the first 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 during the period. Tower Research Capital LLC TRC grew its position in Safehold by 23.3% in the fourth 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 during the period. Finally, PNC Financial Services Group Inc. grew its position in Safehold by 16.1% in 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 hedge funds and other institutional investors.

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.