Safehold Inc. (NYSE:SAFE) Receives $23.50 Average Price Target from Brokerages

Safehold Inc. (NYSE:SAFE - Get Free Report) has been assigned a consensus recommendation of "Moderate Buy" from the eight research firms that are covering the company, MarketBeat.com reports. Four equities research analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $23.50.

SAFE has been the topic of a number of research reports. Mizuho lowered their target price on Safehold from $25.00 to $19.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. JMP Securities reiterated a "market outperform" rating and issued a $35.00 target price on shares of Safehold in a research note on Thursday, February 6th. Wedbush reaffirmed a "neutral" rating and set a $20.00 target price on shares of Safehold in a report on Monday, March 31st. Morgan Stanley lowered their price objective on Safehold from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Finally, Royal Bank of Canada decreased their price target on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, May 19th.

Institutional Investors Weigh In On Safehold

Hedge funds have recently bought and sold shares of the business. Smartleaf Asset Management LLC lifted its holdings in shares of Safehold by 268.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company's stock valued at $26,000 after purchasing an additional 1,020 shares during the last quarter. US Bancorp DE grew its stake in shares of Safehold by 136.4% in the 1st quarter. US Bancorp DE now owns 2,215 shares of the company's stock worth $41,000 after buying an additional 1,278 shares during the last quarter. Versant Capital Management Inc increased 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 in the last quarter. Tower Research Capital LLC TRC raised its stake in Safehold by 23.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company's stock valued at $83,000 after buying an additional 849 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in Safehold by 16.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company's stock worth $156,000 after acquiring an additional 1,173 shares in the last quarter. Institutional investors own 70.38% of the company's stock.

Safehold Stock Up 3.8%

NYSE SAFE traded up $0.55 during trading hours on Friday, hitting $15.05. 430,873 shares of the company traded hands, compared to its average volume of 403,993. The business's 50-day moving average is $16.00 and its 200-day moving average is $17.68. Safehold has a twelve month low of $13.68 and a twelve month high of $28.80. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.17 and a beta of 1.86. The company has a debt-to-equity ratio of 1.82, a quick ratio of 36.59 and a current ratio of 36.59.

Safehold (NYSE:SAFE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping analysts' consensus estimates of $0.43 by $0.01. The firm had revenue of $97.68 million for the quarter, compared to analysts' expectations of $95.55 million. Safehold had a net margin of 28.92% and a return on equity of 4.76%. The company's revenue was up 4.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.43 earnings per share. Sell-side analysts anticipate that Safehold will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.177 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.71 annualized dividend and a dividend yield of 4.70%. Safehold's payout ratio is 47.95%.

Safehold Company Profile

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.