Mizuho Forecasts Strong Price Appreciation for Safehold (NYSE:SAFE) Stock

Safehold (NYSE:SAFE) had its price target boosted by Mizuho from $20.00 to $25.00 in a research note released on Thursday, Benzinga reports. Mizuho currently has a neutral rating on the stock.

Other equities analysts also recently issued reports about the stock. Wedbush increased their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Truist Financial raised their price objective on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada boosted their target price on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a report on Tuesday. Finally, Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $29.33.

Safehold Stock Up 0.8 %

Shares of NYSE:SAFE traded up $0.17 during midday trading on Thursday, reaching $21.45. 13,813 shares of the company were exchanged, compared to its average volume of 343,003. The firm has a market cap of $1.53 billion, a PE ratio of 12.51 and a beta of 1.66. The company has a quick ratio of 38.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. Safehold has a fifty-two week low of $16.14 and a fifty-two week high of $28.80. The stock has a fifty day simple moving average of $25.13 and a two-hundred day simple moving average of $21.94.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting analysts’ consensus estimates of $0.37. The business had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 earnings per share. As a group, sell-side analysts forecast that Safehold will post 1.58 earnings per share for the current year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.177 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.71 annualized dividend and a dividend yield of 3.30%. Safehold’s dividend payout ratio is 41.18%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its position in shares of Safehold by 1.8% during the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after acquiring an additional 141,245 shares during the last quarter. Long Pond Capital LP grew its stake in shares of Safehold by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after buying an additional 345,661 shares during the period. Sei Investments Co. increased its position in Safehold by 3.2% in the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock valued at $12,926,000 after buying an additional 20,483 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Safehold by 7.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock worth $9,080,000 after buying an additional 34,404 shares during the period. Finally, Peregrine Capital Management LLC boosted its holdings in Safehold by 10.0% in the second quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock worth $7,443,000 after acquiring an additional 35,046 shares in the last quarter. 70.38% of the stock is owned by 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.