Safehold Inc. (NYSE:SAFE) Receives $22.33 Consensus PT from Analysts

Safehold Inc. (NYSE:SAFE) has received an average rating of “Hold” from the nine research firms that are currently covering the stock, Marketbeat.com reports. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokers that have issued a report on the stock in the last year is $22.33.

Several brokerages have recently issued reports 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. JPMorgan Chase & Co. reduced their price target on Safehold from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. The Goldman Sachs Group cut their price objective on Safehold from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. JMP Securities reissued a “market outperform” rating and issued a $32.00 price objective on shares of Safehold in a research note on Thursday, June 26th. Finally, Wedbush reissued a “neutral” rating and issued a $20.00 price objective on shares of Safehold in a research note on Monday, March 31st.

Hedge Funds Weigh In On Safehold

Large investors have recently bought and sold shares of the stock. Bank of New York Mellon Corp boosted its stake in shares of Safehold by 1.7% during the fourth quarter. Bank of New York Mellon Corp now owns 435,784 shares of the company’s stock worth $8,053,000 after buying an additional 7,437 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Safehold by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company’s stock worth $13,251,000 after acquiring an additional 29,348 shares during the last quarter. Proficio Capital Partners LLC bought a new stake in shares of Safehold in the fourth quarter worth $306,000. PNC Financial Services Group Inc. grew its position in Safehold by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company’s stock valued at $156,000 after buying an additional 1,173 shares in the last quarter. Finally, Amundi raised its holdings in shares of Safehold by 39.9% in the 4th quarter. Amundi now owns 49,549 shares of the company’s stock valued at $916,000 after buying an additional 14,130 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Price Performance

Safehold stock opened at $15.19 on Monday. Safehold has a 12 month low of $13.68 and a 12 month high of $28.80. The company has a debt-to-equity ratio of 1.82, a current ratio of 37.17 and a quick ratio of 37.17. The business has a 50 day simple moving average of $15.36 and a 200-day simple moving average of $16.44. The stock has a market capitalization of $1.09 billion, a PE ratio of 10.40, a price-to-earnings-growth ratio of 1.47 and a beta of 1.79.

Safehold (NYSE:SAFE) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) 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 net margin of 28.20% and a return on equity of 4.76%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.43 earnings per share. Equities analysts predict that Safehold will post 1.58 earnings per share for the current year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.177 per share. The ex-dividend date was Monday, June 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.66%. Safehold’s payout ratio is currently 48.63%.

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.