Wedbush Reiterates Neutral Rating for Safehold (NYSE:SAFE)

Wedbush reissued their neutral rating on shares of Safehold (NYSE:SAFE) in a research note released on Monday morning,RTT News reports. The firm currently has a $23.00 price objective on the stock, down from their prior price objective of $25.00. Wedbush also issued estimates for Safehold’s Q4 2024 earnings at $0.34 EPS, FY2024 earnings at $1.55 EPS, Q2 2025 earnings at $0.39 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.39 EPS and FY2025 earnings at $1.61 EPS.

Several other analysts have also recently commented on the stock. The Goldman Sachs Group lowered their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Thursday, September 19th. Royal Bank of Canada increased their target price on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Truist Financial raised their price target on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Finally, Mizuho upped their price objective 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. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.22.

Safehold Stock Performance

Safehold stock opened at $20.56 on Monday. Safehold has a fifty-two week low of $16.27 and a fifty-two week high of $28.80. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of 12.09 and a beta of 1.68. The stock has a fifty day moving average of $24.62 and a two-hundred day moving average of $22.02. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83.

Safehold (NYSE:SAFE) last released its earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.33 EPS. On average, analysts anticipate that Safehold will post 1.57 EPS for the current fiscal year.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.44%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s payout ratio is currently 41.76%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Thrivent Financial for Lutherans boosted its position in Safehold by 140.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 89,996 shares of the company’s stock worth $2,361,000 after purchasing an additional 52,636 shares during the period. Natixis Advisors LLC boosted its position in shares of Safehold by 2.9% in the third quarter. Natixis Advisors LLC now owns 70,503 shares of the company’s stock worth $1,849,000 after buying an additional 2,011 shares during the period. KBC Group NV boosted its position in shares of Safehold by 79.3% in the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after buying an additional 1,275 shares during the period. Victory Capital Management Inc. purchased a new stake in shares of Safehold during the 3rd quarter valued at about $639,000. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in shares of Safehold by 8.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 51,190 shares of the company’s stock valued at $1,343,000 after buying an additional 3,812 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

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.