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

Shares of Safehold Inc. (NYSE:SAFE) have earned a consensus rating of “Moderate Buy” from the nine ratings firms that are covering the stock, MarketBeat reports. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12 month price target among brokerages that have issued a report on the stock in the last year is $28.40.

A number of equities analysts have recently weighed in on the company. Royal Bank of Canada cut their price target on Safehold from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. JMP Securities initiated coverage on Safehold in a research note on Tuesday, January 23rd. They issued an “outperform” rating and a $35.00 target price for the company. Jefferies Financial Group initiated coverage on Safehold in a research note on Thursday, January 4th. They issued a “buy” rating and a $33.00 target price for the company. The Goldman Sachs Group upped their target price on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. dropped their target price on Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th.

Institutional Investors Weigh In On Safehold

Institutional investors have recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. grew its position in Safehold by 20.4% during the third quarter. Charles Schwab Investment Management Inc. now owns 572,894 shares of the company’s stock valued at $10,198,000 after acquiring an additional 97,166 shares during the period. Monashee Investment Management LLC purchased a new stake in shares of Safehold in the third quarter worth about $3,480,000. Jump Financial LLC purchased a new stake in shares of Safehold in the third quarter worth about $884,000. Janney Montgomery Scott LLC purchased a new stake in shares of Safehold in the third quarter worth about $1,322,000. Finally, Vanguard Group Inc. boosted its position in shares of Safehold by 11.8% in the third quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock worth $137,234,000 after buying an additional 816,033 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Stock Performance

NYSE SAFE opened at $19.00 on Friday. Safehold has a fifty-two week low of $15.00 and a fifty-two week high of $29.44. The stock has a market cap of $1.35 billion, a price-to-earnings ratio of -23.46 and a beta of 1.46. The business has a fifty day moving average of $20.05 and a 200-day moving average of $19.93. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Monday, February 12th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The company had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $84.89 million. During the same period in the previous year, the firm posted ($6.00) earnings per share. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, analysts predict that Safehold will post 1.53 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Wednesday, March 27th. Safehold’s dividend payout ratio (DPR) is presently -86.42%.

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.