Safehold (NYSE:SAFE) Given New $25.00 Price Target at Mizuho

Safehold (NYSE:SAFE) had its price target raised by Mizuho from $20.00 to $25.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a neutral rating on the stock.

SAFE has been the topic of a number of other research reports. Truist Financial lifted their target price on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Wedbush raised their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Thursday, September 19th. The Goldman Sachs Group boosted their price objective on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Royal Bank of Canada boosted their price objective on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $29.33.

Safehold Trading Up 0.8 %

Shares of SAFE traded up $0.17 during mid-day trading on Thursday, reaching $21.45. The stock had a trading volume of 13,813 shares, compared to its average volume of 343,003. Safehold has a 52-week low of $16.14 and a 52-week high of $28.80. The firm has a market cap of $1.53 billion, a price-to-earnings ratio of 12.51 and a beta of 1.66. The business’s fifty day moving average is $25.13 and its 200 day moving average is $21.94. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 38.83.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $90.70 million during 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 business’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.33 EPS. On average, sell-side analysts predict that Safehold will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 3.30%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio (DPR) is presently 41.18%.

Institutional Trading of Safehold

Hedge funds have recently modified their holdings of the business. Long Pond Capital LP lifted its position in Safehold by 14.9% during the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after acquiring an additional 345,661 shares during the last quarter. Sei Investments Co. raised its stake in shares of Safehold by 62.4% in the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after acquiring an additional 249,500 shares during the last quarter. Edgestream Partners L.P. acquired a new stake in Safehold during the 1st quarter valued at $4,400,000. Vanguard Group Inc. lifted its position in Safehold by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after buying an additional 141,245 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in shares of Safehold during the first quarter valued at approximately $1,979,000. Hedge funds and other 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.