Brokerages Set Safehold Inc. (NYSE:SAFE) PT at $26.75

Safehold Inc. (NYSE:SAFE) has received an average recommendation of “Moderate Buy” from the nine brokerages that are presently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 12 month target price among brokers that have covered the stock in the last year is $28.56.

A number of analysts have commented on the company. Truist Financial lifted their target price on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Thursday. Wedbush raised their price target on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, 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 report on Wednesday.

Safehold Price Performance

Shares of NYSE:SAFE opened at $26.95 on Tuesday. The company has a market capitalization of $1.93 billion, a PE ratio of -59.89 and a beta of 1.65. The business has a fifty day moving average price of $24.06 and a 200-day moving average price of $21.05. Safehold has a 1-year low of $15.00 and a 1-year high of $28.80. The company has a debt-to-equity ratio of 1.76, a current ratio of 38.83 and a quick ratio of 38.83.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. The business had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $87.28 million. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. During the same period in the previous year, the company earned $0.35 earnings per share. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. As a group, equities analysts expect that Safehold will post 1.59 EPS for the current fiscal year.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.177 dividend. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 2.63%. Safehold’s payout ratio is presently -155.56%.

Institutional Investors Weigh In On Safehold

Several hedge funds and other institutional investors have recently modified their holdings of SAFE. GAMMA Investing LLC grew its stake in shares of Safehold by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock valued at $44,000 after acquiring an additional 702 shares during the period. Roble Belko & Company Inc bought a new position in shares of Safehold in the first quarter worth approximately $45,000. PNC Financial Services Group Inc. increased its stake in shares of Safehold by 65.6% in 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 in the last quarter. ProShare Advisors LLC raised its position in shares of Safehold by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after purchasing an additional 676 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Safehold during the 2nd quarter valued at $204,000. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

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.