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

Safehold Inc. (NYSE:SAFE) has been assigned an average recommendation of “Moderate Buy” from the nine analysts that are currently covering the stock, Marketbeat reports. Four research analysts have rated the stock with a hold recommendation and five have assigned a buy recommendation to the company. The average 12-month target price among brokerages that have updated their coverage on the stock in the last year is $28.22.

Several equities research analysts have weighed in on SAFE shares. The Goldman Sachs Group cut their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Mizuho increased their price target on Safehold from $20.00 to $25.00 and gave the stock 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 company an “outperform” rating in a research report on Wednesday, October 30th. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Thursday, September 19th. Finally, Wedbush reiterated a “neutral” rating and issued a $23.00 price target (down previously from $25.00) on shares of Safehold in a report on Monday, November 4th.

Safehold Trading Down 3.7 %

Shares of SAFE opened at $20.51 on Wednesday. The stock’s fifty day simple moving average is $24.38 and its 200-day simple moving average is $22.11. The firm has a market capitalization of $1.47 billion, a PE ratio of 12.06 and a beta of 1.68. Safehold has a 12-month low of $16.44 and a 12-month high of $28.80. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85.

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 analysts’ consensus estimates of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. During the same quarter in the prior year, the business posted $0.33 EPS. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts predict that Safehold will post 1.56 earnings per share for the current year.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a $0.177 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a yield of 3.45%. Safehold’s dividend payout ratio is 41.76%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of 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 buying an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Safehold by 35.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after buying an additional 471 shares during the period. KBC Group NV grew its position in Safehold by 79.3% during the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after buying an additional 1,275 shares in the last quarter. ProShare Advisors LLC increased its stake in Safehold by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after acquiring an additional 676 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in Safehold in the 2nd quarter valued at $204,000. Institutional investors own 70.38% of the company’s stock.

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.