Safehold (NYSE:SAFE) Hits New 52-Week High on Analyst Upgrade

Safehold Inc. (NYSE:SAFE) hit a new 52-week high on Wednesday after The Goldman Sachs Group raised their price target on the stock from $25.00 to $38.00. The Goldman Sachs Group currently has a buy rating on the stock. Safehold traded as high as $27.95 and last traded at $27.92, with a volume of 21842 shares traded. The stock had previously closed at $27.20.

Several other research firms have also commented on SAFE. Wedbush increased their price target 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. Truist Financial boosted their price objective 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 analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Safehold has an average rating of “Moderate Buy” and a consensus price target of $27.88.

Institutional Investors Weigh In On Safehold

Large investors have recently modified their holdings of the business. GAMMA Investing LLC grew its holdings in shares of Safehold by 49.3% during the first quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock valued at $44,000 after buying an additional 702 shares during the last quarter. Roble Belko & Company Inc purchased a new position in shares of Safehold in the first quarter worth about $45,000. PNC Financial Services Group Inc. lifted its holdings in shares of Safehold by 65.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock worth $175,000 after purchasing an additional 2,965 shares during the period. Victory Capital Management Inc. purchased a new stake in Safehold in the fourth quarter valued at approximately $224,000. Finally, ProShare Advisors LLC increased its holdings 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 buying an additional 676 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Stock Up 1.9 %

The company has a market capitalization of $1.98 billion, a PE ratio of -60.44 and a beta of 1.65. The business’s 50-day simple moving average is $23.63 and its 200-day simple moving average is $20.90. The company has a current ratio of 38.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.76.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, July 29th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $89.90 million for the quarter, compared to the consensus estimate of $87.28 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, equities research 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 will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be paid a dividend of $0.177 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 2.55%. Safehold’s payout ratio is -155.56%.

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.