Safehold Inc. (NYSE:SAFE) Stock Has Consensus Target Price of $14.17

Shares of Safehold Inc. (NYSE:SAFE) have earned a consensus recommendation of “Hold” from the thirteen ratings firms that are presently covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, ten have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $14.00.

Several analysts have weighed in on the company. JPMorgan Chase & Co. lowered Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 target price on the stock. in a report on Thursday, September 24th. Raymond James Financial started coverage on Safehold in a research note on Wednesday, August 19th. They set a “market perform” rating for the company. Zacks Research raised Safehold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Mizuho decreased their price objective on shares of Safehold from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, September 17th. Finally, Royal Bank Of Canada lowered their price objective on shares of Safehold from $13.00 to $12.00 and set a “sector perform” rating on the stock in a research note on Wednesday.

Safehold Trading Down 0.6%

Shares of Safehold stock opened at $10.57 on Friday. The company has a 50-day moving average of $12.53 and a two-hundred day moving average of $14.61. The stock has a market cap of $739.68 million, a PE ratio of 6.52, a price-to-earnings-growth ratio of 3.17 and a beta of 1.82. The company has a current ratio of 33.44, a quick ratio of 34.36 and a debt-to-equity ratio of 1.81. Safehold has a 12-month low of $10.27 and a 12-month high of $17.45.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Tuesday, November 3rd. The company reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Safehold had a return on equity of 4.63% and a net margin of 26.19%. The firm had revenue of $118.68 million during the quarter, compared to analyst estimates of $117.38 million. On average, research analysts anticipate that Safehold will post 1.64 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th were given a dividend of $0.1770 per share. The ex-dividend date was Wednesday, September 30th. This represents a $0.71 dividend on an annualized basis and a yield of 6.7%. Safehold’s payout ratio is presently 43.21%.

Insider Activity

In other Safehold news, Director Robin Josephs sold 9,500 shares of the company’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 sale, the director owned 89,068 shares of the company’s stock, valued at $1,296,830.08. This represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Illinois Municipal Retirement Fund boosted its stake in shares of Safehold by 5.2% during the 3rd quarter. Illinois Municipal Retirement Fund now owns 24,824 shares of the company’s stock worth $292,000 after purchasing an additional 1,223 shares during the last quarter. Hollow Brook Wealth Management LLC purchased a new stake in shares of Safehold during the third quarter worth about $261,000. Asset Management One Co. Ltd. raised its position in shares of Safehold by 7.6% in the third quarter. Asset Management One Co. Ltd. now owns 64,417 shares of the company’s stock valued at $758,000 after buying an additional 4,546 shares during the last quarter. Signaturefd LLC raised its position in shares of Safehold by 312.6% in the third quarter. Signaturefd LLC now owns 8,429 shares of the company’s stock valued at $99,000 after buying an additional 6,386 shares during the last quarter. Finally, Sterling Capital Management LLC lifted its stake in shares of Safehold by 15.7% during the third quarter. Sterling Capital Management LLC now owns 22,579 shares of the company’s stock valued at $266,000 after buying an additional 3,071 shares during the period. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust that owns and manages ground leases for commercial, multifamily, and other income-producing properties. Under a ground lease, Safehold owns the land beneath a building while the property owner leases the land for a long term and retains ownership of the improvements on it.

The company’s business model is designed to provide property owners with access to capital while allowing them to maintain control of their buildings. Safehold’s ground lease investments are generally structured as long-duration leases that can support the development, acquisition, refinancing, or recapitalization of real estate assets.