Safehold (NYSE:SAFE) Price Target Raised to $31.00

Safehold (NYSE:SAFE) had its price target boosted by Royal Bank of Canada from $30.00 to $31.00 in a research report sent to investors on Wednesday morning, Benzinga reports. They currently have an outperform rating on the stock.

SAFE has been the topic of several other research reports. Wedbush boosted their price objective on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. 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 report on Wednesday, September 18th. Truist Financial boosted their price objective on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. JMP Securities reiterated a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a report on Tuesday, October 29th. Finally, 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 note on Thursday, September 19th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.44.

Safehold Price Performance

NYSE:SAFE opened at $20.70 on Wednesday. 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. The company has a market capitalization of $1.48 billion, a P/E ratio of 12.18 and a beta of 1.66. The stock’s fifty day moving average is $24.97 and its two-hundred day moving average is $21.96.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. The firm had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. Equities analysts expect that Safehold will post 1.58 EPS for the current year.

Safehold Announces Dividend

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

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of 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 acquiring an additional 141,245 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after purchasing an additional 249,500 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Safehold in the 1st quarter valued at about $4,400,000. SG Americas Securities LLC purchased a new stake in shares of Safehold in the 1st quarter valued at about $1,979,000. Finally, Angeles Wealth Management LLC purchased a new stake in shares of Safehold in the 2nd quarter valued at about $585,000. 70.38% of the stock is owned by institutional investors and hedge funds.

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.