Analysts Set Safehold Inc. (NYSE:SAFE) Target Price at $28.22

Shares of Safehold Inc. (NYSE:SAFE) have earned an average recommendation of “Moderate Buy” from the nine analysts that are covering the company, Marketbeat reports. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1 year price objective among brokerages that have issued a report on the stock in the last year is $28.22.

Several analysts have recently weighed in on the stock. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a report on Thursday, September 19th. Mizuho raised their price target on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada boosted their price objective on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Wedbush restated a “neutral” rating and issued a $23.00 target price (down from $25.00) on shares of Safehold in a research note on Monday, November 4th. Finally, The Goldman Sachs Group cut their price target on Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 1st.

Institutional Investors Weigh In On Safehold

A number of institutional investors and hedge funds have recently modified their holdings of the business. Long Pond Capital LP boosted its stake in Safehold by 14.9% in the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after acquiring an additional 345,661 shares during the last quarter. State Street Corp boosted its position in shares of Safehold by 2.0% in the 3rd quarter. State Street Corp now owns 2,618,033 shares of the company’s stock worth $69,131,000 after purchasing an additional 51,035 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Safehold by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock worth $32,734,000 after purchasing an additional 38,074 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Safehold by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after purchasing an additional 39,320 shares during the last quarter. Finally, Sei Investments Co. lifted its stake in Safehold by 3.2% in the second quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock valued at $12,926,000 after buying an additional 20,483 shares during the period. 70.38% of the stock is owned by institutional investors.

Safehold Price Performance

Safehold stock opened at $18.48 on Thursday. The business has a 50 day simple moving average of $20.61 and a 200 day simple moving average of $22.32. Safehold has a one year low of $17.91 and a one year high of $28.80. The company has a market capitalization of $1.32 billion, a PE ratio of 10.87 and a beta of 1.66. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.33 EPS. On average, sell-side analysts forecast that Safehold will post 1.56 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be given a dividend of $0.177 per share. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a yield of 3.83%. Safehold’s payout ratio is presently 41.18%.

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.