Brokerages Set Safehold Inc. (NYSE:SAFE) Price Target at $28.40

Safehold Inc. (NYSE:SAFE) has earned an average recommendation of “Moderate Buy” from the nine ratings firms that are presently covering the company, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and six have assigned a buy recommendation to the company. The average 1 year target price among analysts that have covered the stock in the last year is $28.40.

A number of equities analysts have recently weighed in on SAFE shares. Mizuho lowered their target price on Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. JMP Securities began coverage on Safehold in a report on Tuesday, January 23rd. They set an “outperform” rating and a $35.00 target price for the company. Jefferies Financial Group started coverage on shares of Safehold in a research note on Thursday, January 4th. They issued a “buy” rating and a $33.00 price target on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group boosted their price objective on shares of Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, January 11th.

Safehold Price Performance

NYSE:SAFE opened at $19.12 on Friday. The company has a market cap of $1.36 billion, a P/E ratio of -23.60 and a beta of 1.46. The firm’s fifty day moving average price is $20.06 and its two-hundred day moving average price is $19.91. Safehold has a one year low of $15.00 and a one year high of $29.56. 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 announced its quarterly earnings results on Monday, February 12th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $103.00 million for the quarter, compared to analyst estimates of $84.89 million. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. Safehold’s quarterly revenue was up 40.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($6.00) EPS. Equities analysts expect that Safehold will post 1.53 earnings per share for the current year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.177 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.71 dividend on an annualized basis and a yield of 3.70%. Safehold’s dividend payout ratio (DPR) is -87.65%.

Institutional Investors Weigh In On Safehold

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Fifth Third Bancorp increased its stake in shares of Safehold by 1,240.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,394 shares of the company’s stock valued at $25,000 after purchasing an additional 1,290 shares during the last quarter. Versant Capital Management Inc grew its position in Safehold by 197.7% in the fourth quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock valued at $33,000 after acquiring an additional 931 shares during the last quarter. GAMMA Investing LLC acquired a new position in Safehold during the fourth quarter worth about $33,000. CWM LLC lifted its holdings in shares of Safehold by 66.7% in the third quarter. CWM LLC now owns 2,506 shares of the company’s stock worth $45,000 after acquiring an additional 1,003 shares during the last quarter. Finally, Roble Belko & Company Inc acquired a new stake in shares of Safehold in the 1st quarter valued at approximately $45,000. 70.38% of the stock is currently owned by 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.