Safehold Inc. (NYSE:SAFE) Given Average Rating of "Hold" by Analysts

Key Points

• Safehold Inc. (NYSE:SAFE) has received an average analysts' rating of "Hold", with five holding and three buying recommendations. The average 12-month price target is set at $20.25.
• Recent institutional activity includes Goldman Sachs increasing its stake by 3.7%, and institutional investors now own 70.38% of the company's stock.
• Safehold recently announced a quarterly dividend of $0.177 per share, which results in an annualized dividend yield of 4.5%.

Safehold Inc. (NYSE:SAFE - Get Free Report) has earned a consensus rating of "Hold" from the eight analysts that are covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12 month price target among brokerages that have covered the stock in the last year is $20.25.

SAFE has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. reduced their price objective on shares of Safehold from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. JMP Securities reduced their price objective on shares of Safehold from $32.00 to $28.00 and set a "market outperform" rating for the company in a research report on Tuesday, August 12th. Mizuho upped their price objective on shares of Safehold from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, September 11th. Finally, Truist Financial reduced their price objective on shares of Safehold from $18.00 to $16.00 and set a "hold" rating for the company in a research report on Thursday, September 11th.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. grew its position in shares of Safehold by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company's stock valued at $8,120,000 after acquiring an additional 15,280 shares during the period. Strs Ohio bought a new position in shares of Safehold during the 1st quarter valued at approximately $555,000. New York State Teachers Retirement System grew its position in shares of Safehold by 12.1% during the 1st quarter. New York State Teachers Retirement System now owns 51,068 shares of the company's stock valued at $956,000 after acquiring an additional 5,509 shares during the period. Peregrine Capital Management LLC grew its position in shares of Safehold by 9.0% during the 1st quarter. Peregrine Capital Management LLC now owns 336,554 shares of the company's stock valued at $6,300,000 after acquiring an additional 27,719 shares during the period. Finally, Vanguard Group Inc. grew its position in shares of Safehold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company's stock valued at $146,352,000 after acquiring an additional 93,236 shares during the period. 70.38% of the stock is owned by institutional investors.

Safehold Trading Up 2.2%

NYSE:SAFE opened at $15.69 on Friday. Safehold has a one year low of $13.43 and a one year high of $26.96. The company has a debt-to-equity ratio of 1.85, a current ratio of 36.02 and a quick ratio of 36.02. The firm has a 50-day moving average of $15.48 and a 200-day moving average of $15.78. The company has a market cap of $1.13 billion, a PE ratio of 10.97, a PEG ratio of 1.38 and a beta of 1.85.

Safehold (NYSE:SAFE - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.39. Safehold had a net margin of 27.45% and a return on equity of 4.70%. The business had revenue of $93.84 million during the quarter, compared to the consensus estimate of $94.05 million. During the same period in the prior year, the firm posted $0.41 EPS. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. As a group, equities research analysts expect that Safehold will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be given a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Tuesday, September 30th. Safehold's dividend payout ratio is currently 49.65%.

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.

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