Safehold Inc. (NYSE:SAFE) Stock Has Average Target Price of $15.67

Shares of Safehold Inc. (NYSE:SAFE) have been given a consensus rating of “Hold” by the eleven ratings firms that are currently covering the firm, Marketbeat Ratings reports. Two analysts have rated the stock with a sell recommendation, seven have given a hold recommendation and two have assigned a buy recommendation to the company. The average twelve-month target price among analysts that have covered the stock in the last year is $15.17.

A number of equities analysts recently issued reports on the company. JPMorgan Chase & Co. cut Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 target price on the stock. in a report on Thursday, September 24th. Wall Street Zen upgraded shares of Safehold from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Cantor Fitzgerald restated a “neutral” rating on shares of Safehold in a report on Tuesday, August 4th. Raymond James Financial started coverage on shares of Safehold in a report on Wednesday, August 19th. They set a “market perform” rating on the stock. Finally, Weiss Ratings lowered shares of Safehold from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday.

Insider Buying and Selling at Safehold

In related news, Director Robin Josephs sold 9,500 shares of the firm’s stock in a transaction dated Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total value of $138,320.00. Following the transaction, the director owned 89,068 shares of the company’s stock, valued at approximately $1,296,830.08. This trade represents a 9.64% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.80% of the stock is owned by corporate insiders.

Institutional Trading of Safehold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAFE. BlackRock Inc. boosted its holdings in Safehold by 2.1% during the 2nd quarter. BlackRock Inc. now owns 9,938,575 shares of the company’s stock worth $156,036,000 after acquiring an additional 200,628 shares during the last quarter. NewEdge Wealth LLC purchased a new stake in shares of Safehold in the second quarter valued at about $10,529,000. Bank of New York Mellon Corp raised its holdings in shares of Safehold by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 411,971 shares of the company’s stock valued at $6,468,000 after purchasing an additional 16,016 shares during the last quarter. Legal & General Group Plc raised its holdings in shares of Safehold by 7.6% in the fourth quarter. Legal & General Group Plc now owns 340,108 shares of the company’s stock valued at $4,656,000 after purchasing an additional 23,879 shares during the last quarter. Finally, Bank of America Corp DE lifted its position in shares of Safehold by 110.4% during the first quarter. Bank of America Corp DE now owns 337,284 shares of the company’s stock valued at $4,563,000 after purchasing an additional 177,001 shares in the last quarter. 70.38% of the stock is owned by institutional investors.

Safehold Stock Performance

Shares of Safehold stock opened at $11.99 on Wednesday. The business has a 50-day simple moving average of $14.25 and a 200 day simple moving average of $14.96. Safehold has a one year low of $11.60 and a one year high of $17.45. The company has a debt-to-equity ratio of 1.77, a current ratio of 34.37 and a quick ratio of 34.36. The firm has a market capitalization of $849.42 million, a price-to-earnings ratio of 7.40, a PEG ratio of 3.61 and a beta of 1.78.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $114.65 million for the quarter, compared to analyst estimates of $110.78 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. On average, research analysts anticipate that Safehold will post 1.64 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, October 15th. Investors of record on Wednesday, September 30th will be issued a $0.1770 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 5.9%. The ex-dividend date is Wednesday, September 30th. Safehold’s dividend payout ratio is currently 43.83%.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning ground leases. Through its ground-lease model, the company acquires and owns the land beneath commercial, residential, and other real estate assets while leasing that land to property owners under long-term agreements. This structure allows building owners to access the value of the land without selling the underlying property.

Safehold’s portfolio has included ground leases supporting multifamily, office, hotel, life sciences, industrial, and other commercial properties.