Truist Financial Issues Positive Forecast for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE) had its price objective increased by Truist Financial from $16.00 to $17.00 in a research report sent to investors on Wednesday morning,Benzinga reports. Truist Financial currently has a hold rating on the stock.

A number of other equities research analysts also recently commented on SAFE. Mizuho lifted their target price on Safehold from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Citigroup reissued a “market outperform” rating on shares of Safehold in a research report on Monday, December 1st. Royal Bank Of Canada decreased their target price on shares of Safehold from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Safehold in a research note on Thursday, January 22nd. Finally, Zacks Research raised shares of Safehold from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, Safehold presently has a consensus rating of “Hold” and an average target price of $19.11.

Safehold Price Performance

Safehold stock opened at $15.62 on Wednesday. Safehold has a 12-month low of $12.76 and a 12-month high of $19.53. The stock has a market cap of $1.12 billion, a P/E ratio of 9.76, a PEG ratio of 2.23 and a beta of 1.86. The company has a 50-day moving average price of $14.39 and a 200 day moving average price of $14.76. The company has a current ratio of 34.97, a quick ratio of 34.97 and a debt-to-equity ratio of 1.88.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Wednesday, February 11th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $97.87 million during the quarter, compared to analysts’ expectations of $96.71 million. Safehold had a net margin of 29.69% and a return on equity of 4.92%. Sell-side analysts anticipate that Safehold will post 1.58 earnings per share for the current year.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Tuesday, December 30th were paid a dividend of $0.177 per share. The ex-dividend date was Tuesday, December 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.5%. Safehold’s dividend payout ratio is 44.38%.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Hantz Financial Services Inc. lifted its holdings in Safehold by 928.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,861 shares of the company’s stock worth $29,000 after buying an additional 1,680 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Safehold in the fourth quarter valued at $31,000. Russell Investments Group Ltd. raised its stake in shares of Safehold by 115.0% in the second quarter. Russell Investments Group Ltd. now owns 3,344 shares of the company’s stock valued at $52,000 after acquiring an additional 1,789 shares in the last quarter. Advisory Services Network LLC purchased a new position in Safehold in the third quarter valued at $57,000. Finally, Federation des caisses Desjardins du Quebec grew its stake in Safehold by 25.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,429 shares of the company’s stock worth $61,000 after purchasing an additional 908 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Company Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.