Safehold’s (SAFE) “Market Outperform” Rating Reaffirmed at JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Safehold (NYSE:SAFE) in a research report sent to investors on Tuesday, Benzinga reports. JMP Securities currently has a $35.00 price target on the stock.

A number of other equities analysts have also recently issued reports on SAFE. The Goldman Sachs Group boosted their price objective on shares of Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Wedbush boosted their price objective 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. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research report on Thursday, September 19th. Finally, Truist Financial boosted their price objective on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat, Safehold has a consensus rating of “Moderate Buy” and a consensus target price of $28.44.

Safehold Price Performance

Shares of NYSE:SAFE opened at $20.70 on Tuesday. The stock has a market cap of $1.48 billion, a PE ratio of 12.18 and a beta of 1.66. The company’s fifty day moving average is $25.07 and its 200 day moving average is $21.94. Safehold has a 52 week low of $16.14 and a 52 week high of $28.80. The company has a quick ratio of 38.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.33 EPS. Research analysts anticipate that Safehold will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 3.42%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s payout ratio is currently 41.18%.

Institutional Investors Weigh In On Safehold

Several hedge funds have recently bought and sold shares of SAFE. GAMMA Investing LLC boosted its stake in Safehold by 108.7% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after acquiring an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Safehold by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after acquiring an additional 471 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in 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 acquiring an additional 2,965 shares in the last quarter. ProShare Advisors LLC boosted its stake in Safehold by 7.5% during the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after acquiring an additional 676 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Safehold during the second quarter worth about $204,000. Institutional investors 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.