Safehold Inc. (NYSE:SAFE) Receives $28.40 Consensus Price Target from Analysts

Safehold Inc. (NYSE:SAFE) has earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the company, Marketbeat Ratings reports. Three research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $28.40.

Several research analysts recently weighed in on the stock. JMP Securities assumed coverage on shares of Safehold in a research report on Tuesday, January 23rd. They issued an “outperform” rating and a $35.00 price objective for the company. Mizuho dropped their price objective on shares of Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. Royal Bank of Canada lowered their target price on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. JPMorgan Chase & Co. lowered their target price on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Finally, Jefferies Financial Group started coverage on shares of Safehold in a report on Thursday, January 4th. They set a “buy” rating and a $33.00 target price for the company.

Hedge Funds Weigh In On Safehold

Several institutional investors and hedge funds have recently made changes to their positions in SAFE. CWM LLC grew its holdings in shares of Safehold by 66.7% in the 3rd quarter. CWM LLC now owns 2,506 shares of the company’s stock valued at $45,000 after buying an additional 1,003 shares during the period. SG Americas Securities LLC acquired a new position in shares of Safehold in the 3rd quarter valued at $506,000. State of Alaska Department of Revenue grew its holdings in shares of Safehold by 20.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 48,583 shares of the company’s stock valued at $864,000 after buying an additional 8,134 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of Safehold by 9.0% in the 3rd quarter. Exchange Traded Concepts LLC now owns 147,292 shares of the company’s stock valued at $2,622,000 after buying an additional 12,141 shares during the period. Finally, Maryland State Retirement & Pension System grew its holdings in shares of Safehold by 6.3% in the 3rd quarter. Maryland State Retirement & Pension System now owns 16,491 shares of the company’s stock valued at $294,000 after buying an additional 981 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Stock Performance

SAFE stock opened at $19.00 on Friday. The company has a debt-to-equity ratio of 1.78, a current ratio of 36.61 and a quick ratio of 36.61. The company has a 50 day moving average price of $20.05 and a 200 day moving average price of $19.93. Safehold has a fifty-two week low of $15.00 and a fifty-two week high of $29.44. The stock has a market capitalization of $1.35 billion, a PE ratio of -23.46 and a beta of 1.46.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, February 12th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The firm had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $84.89 million. During the same quarter in the previous year, the company posted ($6.00) EPS. Safehold’s revenue was up 40.3% on a year-over-year basis. Analysts forecast that Safehold will post 1.53 EPS for the current year.

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 3.73%. The ex-dividend date was Wednesday, March 27th. Safehold’s dividend payout ratio (DPR) is -86.42%.

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.