Safehold (NYSE:SAFE) Shares Gap Up After Analyst Upgrade

Safehold Inc. (NYSE:SAFE) gapped up before the market opened on Friday after The Goldman Sachs Group raised their price target on the stock from $25.00 to $29.00. The stock had previously closed at $18.96, but opened at $19.43. The Goldman Sachs Group currently has a buy rating on the stock. Safehold shares last traded at $19.00, with a volume of 129,279 shares.

Other equities analysts have also issued reports about the stock. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research report on Thursday, May 16th. JPMorgan Chase & Co. decreased their target price on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Mizuho lowered shares of Safehold from a “buy” rating to a “neutral” rating and decreased their target price for the company from $22.00 to $20.00 in a report on Friday, May 10th. Finally, Royal Bank of Canada decreased their target price on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $27.22.

Institutional Trading of Safehold

Several hedge funds have recently modified their holdings of the stock. UBS Group AG increased its stake in Safehold by 1,002.8% during the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock valued at $51,625,000 after purchasing an additional 2,006,133 shares in the last quarter. Aew Capital Management L P bought a new stake in Safehold during the 4th quarter valued at $25,605,000. Vanguard Group Inc. increased its stake in Safehold by 11.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock valued at $137,234,000 after purchasing an additional 816,033 shares in the last quarter. Peregrine Capital Management LLC bought a new stake in Safehold during the 1st quarter valued at $7,227,000. Finally, Sei Investments Co. increased its stake in Safehold by 62.4% during the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after purchasing an additional 249,500 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

Safehold Stock Down 0.7 %

The firm has a market cap of $1.36 billion, a P/E ratio of -42.22 and a beta of 1.66. The stock’s 50 day simple moving average is $19.16 and its 200 day simple moving average is $20.30. The company has a debt-to-equity ratio of 1.78, a quick ratio of 42.51 and a current ratio of 42.51.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, May 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. Safehold had a negative net margin of 7.87% and a positive return on equity of 4.43%. The firm had revenue of $93.20 million during the quarter, compared to analyst estimates of $88.20 million. During the same quarter in the prior year, the business posted $0.41 EPS. The business’s revenue was up 19.0% compared to the same quarter last year. Research analysts anticipate that Safehold Inc. will post 1.53 EPS for the current year.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.72%. The ex-dividend date is Friday, June 28th. Safehold’s dividend payout ratio (DPR) is currently -157.78%.

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.