Safehold Inc. (NYSE:SAFE) Stock Rated "Hold" by Sell-Side Brokerages

Key Points

• Analysts maintain a “Hold” consensus on Safehold, with seven hold, two sell, and two buy ratings. The average 12-month price target is $15.67, compared with the stock’s reported opening price of $12.13.
• Safehold matched quarterly earnings expectations at $0.42 per share and exceeded revenue estimates, reporting $114.65 million. Analysts expect full-year EPS of $1.64.
• The company declared a quarterly dividend of $0.177 per share, representing an annualized payout of about $0.71 and a 5.8% dividend yield; institutional investors own 70.38% of outstanding shares.

Shares of Safehold Inc. (NYSE:SAFE - Get Free Report) have received an average rating of "Hold" from the eleven analysts that are currently covering the firm, MarketBeat.com reports. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating on the company. The average 1-year price objective among brokers that have issued a report on the stock in the last year is $15.67.

Several analysts have weighed in on SAFE shares. Zacks Research raised Safehold from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 21st. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Safehold in a research note on Tuesday, August 4th. Weiss Ratings upgraded shares of Safehold from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Truist Financial decreased their price objective on shares of Safehold from $17.00 to $13.00 and set a "hold" rating on the stock in a research report on Monday, September 28th. Finally, Wall Street Zen upgraded shares of Safehold from a "sell" rating to a "hold" rating in a report on Saturday, July 4th.

Safehold Price Performance

SAFE stock opened at $12.13 on Wednesday. The firm has a 50 day moving average of $14.50 and a 200-day moving average of $15.01. The company has a market cap of $858.90 million, a price-to-earnings ratio of 7.49, a PEG ratio of 3.55 and a beta of 1.78. The company has a current ratio of 34.37, a quick ratio of 34.36 and a debt-to-equity ratio of 1.77. Safehold has a 12-month low of $11.60 and a 12-month high of $17.45.

Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.42 earnings per share for the quarter, hitting analysts' consensus estimates of $0.42. The business had revenue of $114.65 million for the quarter, compared to analysts' expectations of $110.78 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. As a group, equities analysts expect that Safehold will post 1.64 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, October 15th. Shareholders of record on Wednesday, September 30th will be issued a $0.1770 dividend. This represents a $0.71 annualized dividend and a dividend yield of 5.8%. The ex-dividend date of this dividend is Wednesday, September 30th. Safehold's dividend payout ratio is 43.83%.

Insider Activity at Safehold

In other news, Director Robin Josephs sold 9,500 shares of the firm's stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total transaction of $138,320.00. Following the completion of the transaction, the director directly owned 89,068 shares of the company's stock, valued at $1,296,830.08. This trade represents a 9.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.80% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Safehold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Legal & General Group Plc acquired a new position in shares of Safehold in the second quarter worth $4,603,000. Bank of America Corp DE acquired a new stake in shares of Safehold during the second quarter valued at $5,153,000. BlackRock Inc. increased its position 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 purchasing an additional 200,628 shares in the last quarter. Man Group plc purchased a new stake in Safehold during the 2nd quarter worth about $1,540,000. Finally, Hsbc Holdings PLC acquired a new position in Safehold in the 2nd quarter valued at about $1,726,000. Hedge funds and other institutional investors own 70.38% of the company's stock.

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.

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