Safehold (NYSE:SAFE) Lowered to "Neutral" at Mizuho

Mizuho cut shares of Safehold (NYSE:SAFE - Free Report) from a buy rating to a neutral rating in a research note released on Friday, MarketBeat Ratings reports. They currently have $20.00 price target on the stock, down from their previous price target of $22.00.

Several other equities research analysts also recently weighed in on the company. JMP Securities reiterated a market outperform rating and issued a $35.00 price target on shares of Safehold in a report on Tuesday. JPMorgan Chase & Co. decreased their price objective on shares of Safehold from $23.00 to $21.00 and set a neutral rating for the company in a report on Wednesday, April 17th. The Goldman Sachs Group increased their target price on shares of Safehold from $25.00 to $29.00 and gave the stock a buy rating in a report on Thursday, January 11th. Finally, Royal Bank of Canada reduced their price target on shares of Safehold from $32.00 to $29.00 and set an outperform rating for the company in a report on Wednesday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Safehold currently has a consensus rating of Moderate Buy and a consensus price target of $27.22.

Safehold Price Performance

Shares of NYSE:SAFE traded down $0.44 on Friday, reaching $19.49. The company's stock had a trading volume of 360,779 shares, compared to its average volume of 342,795. The company has a 50-day simple moving average of $19.68 and a 200 day simple moving average of $20.09. The company has a debt-to-equity ratio of 1.78, a quick ratio of 36.61 and a current ratio of 36.61. The company has a market cap of $1.39 billion, a P/E ratio of -43.31 and a beta of 1.48. Safehold has a 52-week low of $15.00 and a 52-week high of $29.11.

Safehold (NYSE:SAFE - Get Free Report) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.39 by $0.04. The business had revenue of $93.20 million for the quarter, compared to the consensus estimate of $88.20 million. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The company's quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.41 earnings per share. As a group, equities research analysts anticipate that Safehold will post 1.53 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were paid a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 3.63%. The ex-dividend date was Wednesday, March 27th. Safehold's dividend payout ratio (DPR) is presently -155.56%.

Institutional Investors Weigh In On Safehold

Large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its stake in shares of Safehold by 1.8% during the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company's stock worth $161,949,000 after buying an additional 141,245 shares during the period. State Board of Administration of Florida Retirement System increased its holdings in shares of Safehold by 104.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 25,867 shares of the company's stock valued at $533,000 after purchasing an additional 13,221 shares during the period. ProShare Advisors LLC raised its stake in shares of Safehold by 7.5% in the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company's stock worth $200,000 after purchasing an additional 676 shares during the last quarter. Russell Investments Group Ltd. lifted its holdings in shares of Safehold by 6.0% during the first quarter. Russell Investments Group Ltd. now owns 190,667 shares of the company's stock worth $3,928,000 after purchasing an additional 10,787 shares during the period. Finally, Sei Investments Co. boosted its position in Safehold by 62.4% in the first quarter. Sei Investments Co. now owns 649,582 shares of the company's stock valued at $13,381,000 after buying an additional 249,500 shares during the last quarter. Hedge funds and other 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.