Safehold Inc. (NYSE:SAFE) Receives $28.40 Average PT from Brokerages

Safehold Inc. (NYSE:SAFE) has earned a consensus recommendation of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat Ratings reports. Three analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $28.40.

SAFE has been the subject of a number of analyst reports. Jefferies Financial Group initiated coverage on Safehold in a report on Thursday, January 4th. They set a “buy” rating and a $33.00 target price for the company. Mizuho lowered their target price on Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, March 7th. The Goldman Sachs Group upped their target price on Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Thursday, January 11th. Royal Bank of Canada lowered their target price on Safehold from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, JMP Securities started coverage on Safehold in a report on Tuesday, January 23rd. They set an “outperform” rating and a $35.00 target price for the company.

Safehold Trading Down 1.1 %

Shares of SAFE opened at $18.20 on Friday. Safehold has a 1-year low of $15.00 and a 1-year high of $29.11. The company has a 50-day moving average of $19.97 and a 200 day moving average of $19.91. The firm has a market capitalization of $1.30 billion, a price-to-earnings ratio of -22.46 and a beta of 1.46. The company has a debt-to-equity ratio of 1.78, a current ratio of 36.61 and a quick ratio of 36.61.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, February 12th. The company reported $0.36 EPS for the quarter, beating the consensus estimate of $0.35 by $0.01. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The business had revenue of $103.00 million during the quarter, compared to analyst estimates of $84.89 million. During the same quarter in the previous year, the business posted ($6.00) EPS. The company’s quarterly revenue was up 40.3% compared to the same quarter last year. On average, research analysts expect that Safehold will post 1.53 EPS for the current year.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date was Wednesday, March 27th. Safehold’s payout ratio is presently -87.65%.

Hedge Funds Weigh In On Safehold

Several hedge funds have recently made changes to their positions in the company. Strs Ohio increased its position in shares of Safehold by 0.4% in the 4th quarter. Strs Ohio now owns 145,864 shares of the company’s stock valued at $3,413,000 after acquiring an additional 600 shares during the period. Oregon Public Employees Retirement Fund increased its position in shares of Safehold by 5.6% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 13,269 shares of the company’s stock valued at $236,000 after acquiring an additional 700 shares during the period. Handelsbanken Fonder AB increased its position in shares of Safehold by 6.8% in the 4th quarter. Handelsbanken Fonder AB now owns 11,043 shares of the company’s stock valued at $258,000 after acquiring an additional 700 shares during the period. GAMMA Investing LLC grew its position in Safehold by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock worth $44,000 after purchasing an additional 702 shares during the period. Finally, Versant Capital Management Inc grew its position in Safehold by 197.7% during the 4th quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock worth $33,000 after purchasing an additional 931 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

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.