Safehold (NYSE:SAFE) Price Target Raised to $25.00

Safehold (NYSE:SAFE) had its price objective hoisted by Mizuho from $20.00 to $25.00 in a report published on Thursday, Benzinga reports. They currently have a neutral rating on the stock.

A number of other equities analysts also recently weighed in on SAFE. JMP Securities reissued a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a report on Tuesday, October 29th. Royal Bank of Canada increased their target price on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday. 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 report on Thursday, September 19th. The Goldman Sachs Group increased their price objective on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Truist Financial boosted their target price on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.44.

Safehold Price Performance

Safehold stock opened at $20.70 on Thursday. The stock has a market cap of $1.48 billion, a P/E ratio of 12.18 and a beta of 1.66. The company has a quick ratio of 38.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. The company’s 50 day moving average price is $24.97 and its two-hundred day moving average price is $21.98. Safehold has a 52 week low of $16.14 and a 52 week high of $28.80.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $90.70 million for 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 quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the company posted $0.33 earnings per share. On average, equities analysts predict that Safehold will post 1.58 earnings per share for the current year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.177 per share. The ex-dividend date was Monday, September 30th. This represents a $0.71 annualized dividend and a dividend yield of 3.42%. Safehold’s dividend payout ratio is currently 41.18%.

Institutional Trading of Safehold

A number of institutional investors have recently added to or reduced their stakes in SAFE. GAMMA Investing LLC increased its position in shares of Safehold by 108.7% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after buying an additional 920 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in Safehold by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after acquiring an additional 471 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Safehold by 65.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock worth $175,000 after acquiring an additional 2,965 shares during the period. ProShare Advisors LLC lifted its stake in Safehold by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after purchasing an additional 676 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Safehold in the 2nd quarter valued at $204,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

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.