Safehold Inc. (NYSE:SAFE) Receives $17.17 Consensus Target Price from Brokerages

Safehold Inc. (NYSE:SAFE) has been given an average recommendation of “Hold” by the ten research firms that are currently covering the company, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $16.8333.

A number of research analysts have commented on the company. Raymond James Financial assumed coverage on Safehold in a report on Wednesday, August 19th. They set a “market perform” rating on the stock. Wall Street Zen upgraded Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Zacks Research raised Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Mizuho dropped their price target on Safehold from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday. Finally, Weiss Ratings upgraded Safehold from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st.

Safehold Price Performance

SAFE opened at $13.13 on Friday. The company has a market capitalization of $930.22 million, a P/E ratio of 8.11, a PEG ratio of 4.04 and a beta of 1.73. The company has a 50-day moving average of $15.51 and a 200-day moving average of $15.25. The company has a debt-to-equity ratio of 1.77, a quick ratio of 34.36 and a current ratio of 34.37. Safehold has a 1-year low of $12.76 and a 1-year high of $17.45.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $114.65 million for the quarter, compared to analysts’ expectations of $110.78 million. Safehold had a net margin of 27.70% and a return on equity of 4.76%. Equities analysts expect that Safehold will post 1.64 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 5.4%. The ex-dividend date of this dividend is Wednesday, September 30th. Safehold’s dividend payout ratio is 43.83%.

Insider Activity

In other news, Director Robin Josephs sold 9,500 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total value of $138,320.00. Following the transaction, the director directly owned 89,068 shares in the company, valued at approximately $1,296,830.08. This trade represents a 9.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Safehold

Several institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc bought a new stake in shares of Safehold in the 2nd quarter worth approximately $4,603,000. BlackRock Inc. grew its stake in Safehold by 2.1% during the 2nd quarter. BlackRock Inc. now owns 9,938,575 shares of the company’s stock worth $156,036,000 after buying an additional 200,628 shares during the last quarter. Man Group plc bought a new position in Safehold during the 2nd quarter worth $1,540,000. Hsbc Holdings PLC acquired a new stake in Safehold in the second quarter worth $1,726,000. Finally, NewEdge Wealth LLC acquired a new stake in Safehold in the second quarter worth $10,529,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning and managing ground leases. Through its ground lease structure, Safehold acquires the land beneath commercial real estate properties and leases it to property owners under long-term agreements, allowing those owners to retain ownership of and operate the buildings on the sites.

The company’s ground lease investments support a range of property types, including multifamily housing, office buildings, hotels, life sciences facilities, student housing, industrial properties and retail assets.