Safehold Inc. (NYSE:SAFE) Given Average Recommendation of "Hold" by Brokerages

Key Points

• Safehold has a consensus analyst rating of “Hold” from 10 research firms, with an average 1-year price target of about $18.71.
• The company’s latest quarterly results missed EPS estimates at $0.40 versus $0.43 expected, though revenue came in above forecasts at $110.85 million.
• Safehold recently paid a quarterly dividend of $0.177 per share, implying an annualized yield of 4.4% and a payout ratio of 44.65%.

Safehold Inc. (NYSE:SAFE - Get Free Report) has received a consensus rating of "Hold" from the ten research firms that are presently covering the company, MarketBeat Ratings reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and three have issued a buy rating on the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $18.7143.

Several brokerages recently issued reports on SAFE. Wall Street Zen upgraded Safehold from a "sell" rating to a "hold" rating in a report on Saturday, July 4th. Royal Bank Of Canada downgraded Safehold from a "market outperform" rating to a "sector perform" rating and lowered their target price for the company from $18.00 to $16.00 in a research note on Friday, May 1st. The Goldman Sachs Group dropped their target price on Safehold from $27.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, May 15th. Weiss Ratings reaffirmed a "hold (c-)" rating on shares of Safehold in a research note on Friday, July 17th. Finally, Zacks Research raised Safehold from a "strong sell" rating to a "hold" rating in a research note on Tuesday.

Safehold Stock Performance

Shares of SAFE opened at $16.07 on Friday. The company's 50 day moving average price is $15.64 and its 200 day moving average price is $15.17. Safehold has a 52 week low of $12.76 and a 52 week high of $17.45. The company has a market capitalization of $1.15 billion, a PE ratio of 10.11, a PEG ratio of 2.13 and a beta of 1.77. The company has a debt-to-equity ratio of 1.91, a quick ratio of 35.59 and a current ratio of 35.58.

Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $110.85 million during the quarter, compared to analyst estimates of $96.51 million. Safehold had a net margin of 28.58% and a return on equity of 4.78%. Research analysts expect that Safehold will post 1.64 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.177 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.4%. Safehold's dividend payout ratio is currently 44.65%.

Institutional Trading of Safehold

A number of institutional investors have recently added to or reduced their stakes in SAFE. Long Pond Capital LP acquired a new position in shares of Safehold during the 4th quarter worth $12,936,000. Michelson Medical Research Foundation Inc. bought a new position in shares of Safehold during the 2nd quarter valued at $4,629,000. Deutsche Bank AG raised its holdings in shares of Safehold by 339.9% during the 4th quarter. Deutsche Bank AG now owns 370,042 shares of the company's stock valued at $5,066,000 after purchasing an additional 285,920 shares in the last quarter. Millennium Management LLC lifted its stake in shares of Safehold by 883.8% in the 3rd quarter. Millennium Management LLC now owns 237,373 shares of the company's stock valued at $3,677,000 after purchasing an additional 213,244 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its stake in shares of Safehold by 936.9% in the 4th quarter. Tudor Investment Corp ET AL now owns 223,678 shares of the company's stock valued at $3,062,000 after purchasing an additional 202,106 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Company Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.

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