Brokerages Set Safehold Inc. (NYSE:SAFE) Target Price at $25.56

Safehold Inc. (NYSE:SAFE) has earned an average rating of “Hold” from the nine analysts that are currently covering the company, MarketBeat reports. Five analysts have rated the stock with a hold recommendation and four have given a buy recommendation to the company. The average 12-month price target among brokers that have covered the stock in the last year is $25.56.

SAFE has been the topic of a number of research reports. Morgan Stanley downgraded shares of Safehold from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $30.00 to $19.00 in a research report on Wednesday, January 15th. JMP Securities restated a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a report on Thursday, February 6th. The Goldman Sachs Group lowered their target price on shares of Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Wedbush reissued a “neutral” rating and issued a $19.00 price target (down previously from $20.00) on shares of Safehold in a research note on Friday, February 7th.

Safehold Price Performance

SAFE opened at $19.20 on Tuesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 36.59 and a quick ratio of 36.59. The company’s 50 day simple moving average is $17.30 and its 200-day simple moving average is $20.72. Safehold has a one year low of $15.55 and a one year high of $28.80. The stock has a market capitalization of $1.37 billion, a P/E ratio of 12.97 and a beta of 1.75.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same period last year, the business posted $0.36 EPS. Sell-side analysts anticipate that Safehold will post 1.58 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 3.69%. The ex-dividend date is Monday, March 31st. Safehold’s payout ratio is presently 47.30%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SAFE. State of New Jersey Common Pension Fund D boosted its holdings in shares of Safehold by 10.9% in the third quarter. State of New Jersey Common Pension Fund D now owns 204,132 shares of the company’s stock valued at $5,354,000 after buying an additional 20,000 shares during the period. Versor Investments LP bought a new stake in Safehold in the 3rd quarter valued at $416,000. Sumitomo Mitsui Trust Group Inc. boosted its stake in Safehold by 8.0% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 51,190 shares of the company’s stock worth $1,343,000 after purchasing an additional 3,812 shares during the period. Victory Capital Management Inc. bought a new position in Safehold during the 3rd quarter worth about $639,000. Finally, KBC Group NV raised its stake in shares of Safehold by 79.3% in the 3rd quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after purchasing an additional 1,275 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

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.