Safehold (NYSE:SAFE) Earns "Market Outperform" Rating from JMP Securities

JMP Securities reaffirmed their market outperform rating on shares of Safehold (NYSE:SAFE - Free Report) in a research note issued to investors on Thursday,Benzinga reports. JMP Securities currently has a $32.00 price objective on the stock.

Several other research analysts have also weighed in on the company. Truist Financial dropped their price target on Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Monday, May 19th. The Goldman Sachs Group lowered their target price on Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Mizuho dropped their target price on Safehold from $19.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. Wedbush reissued a "neutral" rating and issued a $20.00 price target on shares of Safehold in a research report on Monday, March 31st. Finally, Royal Bank Of Canada lowered their price objective on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a research report on Monday, May 19th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $22.75.

Safehold Trading Up 6.1%

Shares of NYSE:SAFE traded up $0.92 during mid-day trading on Thursday, hitting $16.05. The stock had a trading volume of 543,460 shares, compared to its average volume of 401,946. The company has a debt-to-equity ratio of 1.82, a quick ratio of 37.17 and a current ratio of 37.17. The company has a market cap of $1.15 billion, a PE ratio of 10.99, a P/E/G ratio of 1.53 and a beta of 1.80. Safehold has a 12-month low of $13.68 and a 12-month high of $28.80. The company's 50 day moving average is $15.32 and its 200-day moving average is $16.89.

Safehold (NYSE:SAFE - Get Free Report) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. The company had revenue of $97.68 million for the quarter, compared to the consensus estimate of $95.55 million. Safehold had a net margin of 28.20% 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 period in the previous year, the business earned $0.43 EPS. On average, sell-side analysts predict that Safehold will post 1.58 EPS for the current year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 4.41%. The ex-dividend date is Monday, June 30th. Safehold's payout ratio is currently 48.63%.

Institutional Investors Weigh In On Safehold

Hedge funds and other institutional investors have recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in Safehold by 0.4% in the fourth quarter. Rhumbline Advisers now owns 163,179 shares of the company's stock worth $3,016,000 after buying an additional 663 shares during the last quarter. Principal Financial Group Inc. grew its position in Safehold by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 222,050 shares of the company's stock worth $4,103,000 after acquiring an additional 6,093 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Safehold by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 435,784 shares of the company's stock worth $8,053,000 after purchasing an additional 7,437 shares during the last quarter. Illinois Municipal Retirement Fund increased its stake in shares of Safehold by 11.7% during the 4th quarter. Illinois Municipal Retirement Fund now owns 25,713 shares of the company's stock worth $475,000 after purchasing an additional 2,689 shares during the last quarter. Finally, Proficio Capital Partners LLC bought a new position in shares of Safehold during the 4th quarter valued at $306,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

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.