Safehold Inc. (NYSE:SAFE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Safehold Inc. (NYSE:SAFE) has earned a consensus recommendation of “Moderate Buy” from the nine brokerages that are currently covering the stock, MarketBeat.com reports. Four investment analysts have rated the stock with a hold recommendation and five have issued a buy recommendation on the company. The average 1 year target price among brokers that have covered the stock in the last year is $28.22.

Several equities research analysts recently commented on the stock. Truist Financial boosted their price target on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report 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 stock an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research note on Tuesday, October 29th. Wedbush reiterated a “neutral” rating and set a $23.00 price objective (down from $25.00) on shares of Safehold in a research note on Monday, November 4th. Finally, Mizuho increased their target price on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st.

Safehold Trading Up 0.2 %

SAFE stock opened at $21.36 on Friday. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. Safehold has a 52-week low of $17.91 and a 52-week high of $28.80. The company’s 50-day simple moving average is $23.00 and its 200-day simple moving average is $22.21. The firm has a market cap of $1.53 billion, a P/E ratio of 12.56 and a beta of 1.68.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. Safehold’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.33 earnings per share. As a group, equities analysts forecast that Safehold will post 1.56 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.177 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.31%. Safehold’s dividend payout ratio (DPR) is presently 41.18%.

Hedge Funds Weigh In On Safehold

A number of institutional investors have recently added to or reduced their stakes in SAFE. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Safehold by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after acquiring an additional 471 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Safehold by 5.8% in the third quarter. Daiwa Securities Group Inc. now owns 14,893 shares of the company’s stock valued at $391,000 after purchasing an additional 823 shares during the period. GAMMA Investing LLC increased its position in Safehold by 108.7% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after purchasing an additional 920 shares during the last quarter. FMR LLC raised its stake in Safehold by 24.9% during the third quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after purchasing an additional 1,163 shares during the period. Finally, KBC Group NV raised its stake in Safehold by 79.3% during the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after purchasing an additional 1,275 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

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.