Brokerages Set Safehold Inc. (NYSE:SAFE) Target Price at $28.40

Shares of Safehold Inc. (NYSE:SAFE) have been assigned an average recommendation of “Moderate Buy” from the nine ratings firms that are covering the firm, MarketBeat.com reports. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. The average 12 month target price among brokers that have issued ratings on the stock in the last year is $28.40.

A number of brokerages have issued reports on SAFE. Royal Bank of Canada reduced their price objective on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. The Goldman Sachs Group increased their price target on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. JPMorgan Chase & Co. cut their price objective on Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Mizuho decreased their target price on Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. Finally, Jefferies Financial Group began coverage on Safehold in a research note on Thursday, January 4th. They issued a “buy” rating and a $33.00 target price for the company.

Safehold Stock Up 0.8 %

Shares of Safehold stock opened at $19.12 on Friday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 36.61 and a current ratio of 36.61. Safehold has a 52-week low of $15.00 and a 52-week high of $29.56. The company’s 50 day moving average price is $20.06 and its 200-day moving average price is $19.91. The stock has a market capitalization of $1.36 billion, a price-to-earnings ratio of -23.60 and a beta of 1.46.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.35 by $0.01. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The company had revenue of $103.00 million for the quarter, compared to analysts’ expectations of $84.89 million. During the same period last year, the firm earned ($6.00) earnings per share. Safehold’s quarterly revenue was up 40.3% on a year-over-year basis. Equities research analysts forecast that Safehold will post 1.53 EPS for the current year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 3.70%. The ex-dividend date was Wednesday, March 27th. Safehold’s dividend payout ratio (DPR) is -87.65%.

Hedge Funds Weigh In On Safehold

Several institutional investors and hedge funds have recently modified their holdings of SAFE. Fifth Third Bancorp grew its position in Safehold by 1,240.4% during the 3rd quarter. Fifth Third Bancorp now owns 1,394 shares of the company’s stock valued at $25,000 after purchasing an additional 1,290 shares during the last quarter. Versant Capital Management Inc lifted its stake in shares of Safehold by 197.7% in the fourth quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock worth $33,000 after buying an additional 931 shares in the last quarter. GAMMA Investing LLC purchased a new stake in shares of Safehold during the fourth quarter valued at approximately $33,000. CWM LLC increased its position in shares of Safehold by 66.7% during the third quarter. CWM LLC now owns 2,506 shares of the company’s stock valued at $45,000 after acquiring an additional 1,003 shares in the last quarter. Finally, Roble Belko & Company Inc purchased a new position in Safehold in the 1st quarter worth approximately $45,000. 70.38% of the stock is currently owned by institutional investors.

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.