Safehold (NYSE:SAFE) Rating Reiterated by JMP Securities

JMP Securities reissued their market outperform rating on shares of Safehold (NYSE:SAFE - Free Report) in a report published on Tuesday morning, Benzinga reports. JMP Securities currently has a $35.00 target price on the stock.

A number of other equities research analysts have also weighed in on the stock. The Goldman Sachs Group upped their price objective on shares of Safehold from $25.00 to $29.00 and gave the company a buy rating in a research note on Thursday, January 11th. Mizuho reduced their price objective on Safehold from $25.00 to $22.00 and set a buy rating on the stock in a research note on Thursday, March 7th. Royal Bank of Canada lowered their target price on Safehold from $33.00 to $32.00 and set an outperform rating for the company in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. reduced their price target on Safehold from $23.00 to $21.00 and set a neutral rating on the stock in a research report on Wednesday, April 17th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $27.78.

Safehold Price Performance

Shares of NYSE:SAFE traded up $0.71 on Tuesday, hitting $19.80. The company's stock had a trading volume of 298,599 shares, compared to its average volume of 341,640. The company has a market capitalization of $1.41 billion, a PE ratio of -24.44 and a beta of 1.48. The company has a debt-to-equity ratio of 1.78, a current ratio of 36.61 and a quick ratio of 36.61. The company has a 50-day simple moving average of $19.69 and a 200 day simple moving average of $20.10. Safehold has a 1 year low of $15.00 and a 1 year high of $29.11.

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

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.177 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.58%. Safehold's dividend payout ratio is presently -87.65%.

Institutional Investors Weigh In On Safehold

A number of large investors have recently modified their holdings of SAFE. Fifth Third Bancorp increased its stake in shares of Safehold by 1,240.4% during the third 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 in the last quarter. Versant Capital Management Inc increased its position in Safehold by 197.7% during the 4th quarter. Versant Capital Management Inc now owns 1,402 shares of the company's stock valued at $33,000 after buying an additional 931 shares in the last quarter. GAMMA Investing LLC purchased a new position in Safehold during the fourth quarter valued at $33,000. Roble Belko & Company Inc bought a new stake in Safehold in the first quarter worth $45,000. Finally, PNC Financial Services Group Inc. grew its stake in shares of Safehold by 195.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,523 shares of the company's stock worth $81,000 after acquiring an additional 2,994 shares during the last quarter. 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.