Analysts Set Safehold Inc. (NYSE:SAFE) PT at $28.56

Shares of Safehold Inc. (NYSE:SAFE) have received a consensus rating of “Moderate Buy” from the nine research firms that are covering the company, MarketBeat.com reports. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $28.56.

A number of brokerages recently issued reports on SAFE. The Goldman Sachs Group lifted their price target on shares of Safehold from $25.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Truist Financial boosted their target price on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Thursday, September 19th. Finally, Wedbush boosted their price objective on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st.

Safehold Stock Performance

NYSE:SAFE opened at $25.24 on Friday. The firm has a 50-day moving average of $25.13 and a two-hundred day moving average of $21.69. The company has a debt-to-equity ratio of 1.76, a current ratio of 38.83 and a quick ratio of 38.83. The stock has a market cap of $1.80 billion, a P/E ratio of -56.09 and a beta of 1.66. Safehold has a 1-year low of $15.00 and a 1-year high of $28.80.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The firm had revenue of $89.90 million during the quarter, compared to the consensus estimate of $87.28 million. During the same quarter in the prior year, the business posted $0.35 earnings per share. Safehold’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts expect that Safehold will post 1.59 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 2.81%. The ex-dividend date was Monday, September 30th. Safehold’s payout ratio is -155.56%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Safehold by 1.8% during the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock valued at $161,949,000 after acquiring an additional 141,245 shares during the period. Sei Investments Co. boosted its stake in Safehold by 62.4% during the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after purchasing an additional 249,500 shares during the period. Edgestream Partners L.P. bought a new position in Safehold in the 1st quarter worth about $4,400,000. SG Americas Securities LLC bought a new position in Safehold in the 1st quarter worth about $1,979,000. Finally, Angeles Wealth Management LLC acquired a new stake in shares of Safehold in the second quarter valued at approximately $585,000. 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.