Safehold (NYSE:SAFE) Trading 6.9% Higher – Here’s Why

Shares of Safehold Inc. (NYSE:SAFE) rose 6.9% during trading on Thursday . The stock traded as high as $17.76 and last traded at $17.70. Approximately 275,323 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 528,279 shares. The stock had previously closed at $16.55.

Wall Street Analyst Weigh In

A number of analysts have weighed in on SAFE shares. Wedbush reiterated a “neutral” rating and issued a $19.00 price target (down from $20.00) on shares of Safehold in a research report on Friday. Royal Bank of Canada upped their target price on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price target on shares of Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Morgan Stanley cut shares of Safehold from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. Finally, Mizuho lifted their target price on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Safehold presently has an average rating of “Hold” and an average price target of $25.56.

Safehold Price Performance

The company has a debt-to-equity ratio of 1.82, a current ratio of 37.37 and a quick ratio of 37.83. The firm has a market capitalization of $1.24 billion, a P/E ratio of 11.69 and a beta of 1.66. The company’s 50 day moving average price is $18.33 and its 200 day moving average price is $21.79.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same period last year, the business posted $0.36 EPS. As a group, sell-side analysts anticipate that Safehold Inc. will post 1.59 EPS for the current fiscal year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were issued a dividend of $0.177 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.71 annualized dividend and a yield of 4.09%. Safehold’s dividend payout ratio is currently 47.97%.

Institutional Investors Weigh In On Safehold

Several institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP acquired a new stake in Safehold during the 2nd quarter worth $333,000. Truist Financial Corp increased its holdings in Safehold by 10.7% in the second quarter. Truist Financial Corp now owns 21,179 shares of the company’s stock valued at $409,000 after purchasing an additional 2,040 shares during the last quarter. Handelsbanken Fonder AB increased its holdings in Safehold by 9.1% in the third quarter. Handelsbanken Fonder AB now owns 19,243 shares of the company’s stock valued at $505,000 after purchasing an additional 1,600 shares during the last quarter. GAMMA Investing LLC lifted its stake in Safehold by 108.7% in 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. Finally, Harbour Capital Advisors LLC bought a new position in Safehold during the third quarter worth about $370,000. Institutional investors and hedge funds 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.