Safehold Inc. (NYSE:SAFE) Given Average Recommendation of “Hold” by Brokerages

Safehold Inc. (NYSE:SAFE) has been assigned an average rating of “Hold” from the nine research firms that are currently covering the stock, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $26.00.

A number of research firms have weighed in on SAFE. Wedbush reaffirmed a “neutral” rating and issued a $23.00 price objective (down previously from $25.00) on shares of Safehold in a report on Monday, November 4th. Morgan Stanley lowered shares of Safehold from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $30.00 to $19.00 in a research report on Wednesday, January 15th. Mizuho boosted their price target on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a report on Tuesday, October 29th. Finally, 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 report on Wednesday, October 30th.

Hedge Funds Weigh In On Safehold

A number of large investors have recently bought and sold shares of SAFE. Long Pond Capital LP increased its holdings 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 purchasing an additional 345,661 shares in the last quarter. State Street Corp grew its holdings in Safehold by 2.0% in the third quarter. State Street Corp now owns 2,618,033 shares of the company’s stock valued at $69,131,000 after purchasing an additional 51,035 shares during the period. Geode Capital Management LLC grew its holdings in Safehold by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock valued at $32,734,000 after purchasing an additional 38,074 shares during the period. Charles Schwab Investment Management Inc. grew its stake in Safehold by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock worth $18,039,000 after buying an additional 39,320 shares during the period. Finally, Sei Investments Co. grew its stake in Safehold by 3.2% during the second quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock worth $12,926,000 after buying an additional 20,483 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Trading Down 0.5 %

Shares of Safehold stock opened at $17.01 on Monday. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The firm has a fifty day moving average price of $19.50 and a 200 day moving average price of $22.20. Safehold has a 1 year low of $15.55 and a 1 year high of $28.80. The stock has a market cap of $1.22 billion, a PE ratio of 10.01 and a beta of 1.67.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. During the same quarter last year, the company posted $0.33 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts predict that Safehold will post 1.58 earnings per share for the current year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.177 per share. The ex-dividend date was Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.16%. Safehold’s payout ratio is currently 41.76%.

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.