Safehold (NYSE:SAFE) Trading 5.1% Higher – Here’s What Happened

Safehold Inc. (NYSE:SAFE)’s share price shot up 5.1% on Monday . The stock traded as high as $21.76 and last traded at $21.75. 82,536 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 344,017 shares. The stock had previously closed at $20.70.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SAFE. Royal Bank of Canada raised their price objective on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group lowered their price target on Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Friday. Wedbush increased their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. JMP Securities restated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Tuesday, October 29th. Finally, Truist Financial upped their target price on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $28.44.

Safehold Price Performance

The stock has a market capitalization of $1.53 billion, a P/E ratio of 12.90 and a beta of 1.68. The company has a debt-to-equity ratio of 1.85, a quick ratio of 38.83 and a current ratio of 37.83. The firm has a fifty day moving average price of $24.97 and a two-hundred day moving average price of $22.01.

Safehold (NYSE:SAFE) last announced its earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The business had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. During the same period last year, the firm posted $0.33 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts expect that Safehold Inc. will post 1.57 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio is presently 41.76%.

Hedge Funds Weigh In On Safehold

Several large investors have recently added to or reduced their stakes in SAFE. Long Pond Capital LP raised its stake in Safehold by 14.9% during the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after purchasing an additional 345,661 shares during the period. Sei Investments Co. lifted its holdings in shares of Safehold by 62.4% in the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after buying an additional 249,500 shares in the last quarter. Edgestream Partners L.P. bought a new position in shares of Safehold during the first quarter worth $4,400,000. Vanguard Group Inc. grew its stake in 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 in the last quarter. Finally, SG Americas Securities LLC bought a new stake in Safehold in the 1st quarter valued at $1,979,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

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.