Safehold Inc. (NYSE:SAFE) Receives Average Recommendation of “Moderate Buy” from Analysts

Shares of Safehold Inc. (NYSE:SAFE) have received an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, Marketbeat.com reports. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $27.22.

Several brokerages have commented on SAFE. Royal Bank of Canada decreased their price objective on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. The Goldman Sachs Group increased their price target on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Mizuho cut Safehold from a “buy” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $20.00 in a research report on Friday, May 10th. JPMorgan Chase & Co. decreased their target price on Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, JMP Securities restated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Thursday, May 16th.

Hedge Funds Weigh In On Safehold

Several institutional investors and hedge funds have recently modified their holdings of SAFE. PNC Financial Services Group Inc. increased its position in shares of Safehold by 195.8% during the third quarter. PNC Financial Services Group Inc. now owns 4,523 shares of the company’s stock valued at $81,000 after acquiring an additional 2,994 shares in the last quarter. Hsbc Holdings PLC increased its holdings in shares of Safehold by 27.3% in the 3rd quarter. Hsbc Holdings PLC now owns 20,210 shares of the company’s stock worth $360,000 after purchasing an additional 4,336 shares in the last quarter. Natixis Advisors L.P. purchased a new position in shares of Safehold in the third quarter worth $223,000. Vanguard Group Inc. raised its stake in shares of Safehold by 11.8% in the third quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock worth $137,234,000 after purchasing an additional 816,033 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Safehold by 197.7% during the fourth quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock valued at $33,000 after purchasing an additional 931 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors.

Safehold Stock Up 1.1 %

Shares of NYSE:SAFE opened at $18.90 on Thursday. The stock’s 50-day moving average is $19.18 and its 200 day moving average is $20.06. The company has a market cap of $1.35 billion, a PE ratio of -42.00 and a beta of 1.65. The company has a debt-to-equity ratio of 1.78, a current ratio of 42.51 and a quick ratio of 42.51. Safehold has a 1 year low of $15.00 and a 1 year high of $26.33.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, May 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. Safehold had a positive return on equity of 4.43% and a negative net margin of 7.87%. The firm had revenue of $93.20 million for the quarter, compared to analysts’ expectations of $88.20 million. During the same period in the previous year, the firm earned $0.41 earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year. Sell-side analysts anticipate that Safehold will post 1.53 EPS for the current year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Shareholders of record on Friday, June 28th will be issued a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 3.75%. The ex-dividend date of this dividend is Friday, June 28th. Safehold’s dividend payout ratio (DPR) is -157.78%.

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.