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

Key Points

• Safehold Inc. has a consensus recommendation of "Hold" from analysts, with five holding and four buying recommendations, and an average target price of $22.33.
• Recent hedge fund activity includes significant increases in positions by New York State Teachers Retirement System and GAMMA Investing LLC, indicating a growing interest in the stock among institutional investors.
• The company recently declared a quarterly dividend of $0.177 per share, representing an annualized yield of 5.1%.

Safehold Inc. (NYSE:SAFE - Get Free Report) has earned an average recommendation of "Hold" from the nine brokerages that are presently covering the firm, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $21.8889.

Several research firms have weighed in on SAFE. Truist Financial lowered their price target on Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, May 19th. JMP Securities cut their price target on shares of Safehold from $32.00 to $28.00 and set a "market outperform" rating for the company in a research note on Tuesday. Morgan Stanley cut their price target on shares of Safehold from $19.00 to $17.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 29th. JPMorgan Chase & Co. cut their price target on shares of Safehold from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Finally, The Goldman Sachs Group cut their price target on shares of Safehold from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th.

Safehold Stock Performance

Shares of SAFE traded up $0.30 during trading hours on Friday, hitting $14.31. The company's stock had a trading volume of 67,368 shares, compared to its average volume of 432,573. The company has a market cap of $1.03 billion, a price-to-earnings ratio of 9.99, a PEG ratio of 1.38 and a beta of 1.83. 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 business has a 50 day simple moving average of $15.11 and a two-hundred day simple moving average of $16.10. Safehold has a 52-week low of $13.43 and a 52-week high of $28.80.

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

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 4.9%. The ex-dividend date of this dividend was Monday, June 30th. Safehold's payout ratio is 49.65%.

Hedge Funds Weigh In On Safehold

A number of large investors have recently bought and sold shares of the stock. Hantz Financial Services Inc. boosted its position in Safehold by 928.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,861 shares of the company's stock valued at $29,000 after buying an additional 1,680 shares during the period. US Bancorp DE boosted its position in Safehold by 136.4% during the 1st quarter. US Bancorp DE now owns 2,215 shares of the company's stock valued at $41,000 after buying an additional 1,278 shares during the period. Versant Capital Management Inc boosted its position in Safehold by 73.9% during the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company's stock valued at $44,000 after buying an additional 1,010 shares during the period. GAMMA Investing LLC boosted its position in Safehold by 117.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,923 shares of the company's stock valued at $61,000 after buying an additional 2,117 shares during the period. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. purchased a new stake in Safehold during the 2nd quarter valued at $74,000. 70.38% of the stock is owned by hedge funds and other 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.