Mizuho Cuts Safehold (NYSE:SAFE) Price Target to $16.00

Safehold (NYSE:SAFE - Free Report) had its target price lowered by Mizuho from $19.00 to $16.00 in a research note issued to investors on Monday morning,Benzinga reports. The brokerage currently has a neutral rating on the stock.

SAFE has been the topic of several other research reports. Wedbush reissued a "neutral" rating and issued a $20.00 target price on shares of Safehold in a research note on Monday, March 31st. Truist Financial dropped their price target on Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Monday, May 19th. Morgan Stanley dropped their price target on Safehold from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Royal Bank Of Canada dropped their price target on Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Finally, The Goldman Sachs Group dropped their price target on Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Safehold presently has a consensus rating of "Moderate Buy" and an average target price of $23.13.

Safehold Trading Up 0.1%

NYSE:SAFE traded up $0.01 during mid-day trading on Monday, hitting $15.39. The company had a trading volume of 250,861 shares, compared to its average volume of 401,378. Safehold has a fifty-two week low of $13.68 and a fifty-two week high of $28.80. The business's fifty day moving average is $15.28 and its two-hundred day moving average is $17.05. The company has a debt-to-equity ratio of 1.82, a quick ratio of 37.17 and a current ratio of 37.17. The firm has a market cap of $1.10 billion, a P/E ratio of 10.54, a P/E/G ratio of 1.51 and a beta of 1.80.

Safehold (NYSE:SAFE - Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Safehold had a return on equity of 4.76% and a net margin of 28.20%. The firm had revenue of $97.68 million for the quarter, compared to analyst estimates of $95.55 million. During the same quarter in the prior year, the firm posted $0.43 earnings per share. The company's quarterly revenue was up 4.8% on a year-over-year basis. As a group, research analysts expect that Safehold will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a dividend of $0.177 per share. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.60%. Safehold's payout ratio is presently 48.63%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Strs Ohio bought a new position in shares of Safehold during the first quarter worth about $555,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Safehold by 2.5% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 346,067 shares of the company's stock worth $6,478,000 after buying an additional 8,348 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Safehold by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company's stock valued at $8,120,000 after purchasing an additional 15,280 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Safehold by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company's stock valued at $576,000 after purchasing an additional 1,308 shares in the last quarter. Finally, AQR Capital Management LLC grew its stake in Safehold by 1,106.2% in the first quarter. AQR Capital Management LLC now owns 195,530 shares of the company's stock valued at $3,660,000 after purchasing an additional 179,319 shares in the last quarter. 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.