Analysts Set Safehold Inc. (NYSE:SAFE) Price Target at $26.00

Shares of Safehold Inc. (NYSE:SAFE) have been assigned an average recommendation of “Hold” from the nine research firms that are presently covering the company, Marketbeat Ratings reports. Five analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $26.00.

Several equities research analysts have issued reports on the stock. Mizuho lifted their target price on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Wedbush reiterated a “neutral” rating and issued a $23.00 target price (down from $25.00) on shares of Safehold in a research report on Monday, November 4th. Morgan Stanley cut Safehold from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $30.00 to $19.00 in a research note on Wednesday, January 15th. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research note on Tuesday, October 29th. Finally, The Goldman Sachs Group reduced their price objective on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th.

Institutional Investors Weigh In On Safehold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. abrdn plc raised its stake in shares of Safehold by 30.6% during the fourth quarter. abrdn plc now owns 13,505 shares of the company’s stock valued at $248,000 after acquiring an additional 3,166 shares during the last quarter. SG Americas Securities LLC increased its holdings in Safehold by 265.4% during the 4th quarter. SG Americas Securities LLC now owns 24,071 shares of the company’s stock valued at $445,000 after purchasing an additional 17,484 shares during the period. JPMorgan Chase & Co. raised its position in Safehold by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company’s stock valued at $17,369,000 after purchasing an additional 91,965 shares during the last quarter. Franklin Resources Inc. grew its position in shares of Safehold by 17.5% in the 3rd quarter. Franklin Resources Inc. now owns 16,631 shares of the company’s stock worth $407,000 after buying an additional 2,472 shares during the last quarter. Finally, Tidal Investments LLC bought a new stake in shares of Safehold in the 3rd quarter worth approximately $370,000. 70.38% of the stock is currently owned by institutional investors.

Safehold Trading Up 1.2 %

Shares of SAFE stock opened at $16.24 on Monday. Safehold has a 52-week low of $15.55 and a 52-week high of $28.80. The business’s fifty day moving average is $19.09 and its 200 day moving average is $22.12. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. The company has a market capitalization of $1.16 billion, a PE ratio of 9.55 and a beta of 1.67.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The company had revenue of $90.70 million during the quarter, compared to analyst estimates of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. Safehold’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share. On average, equities research analysts anticipate that Safehold will post 1.57 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 4.36%. The ex-dividend date was Monday, December 30th. Safehold’s dividend payout ratio is 41.76%.

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.