Royal Bank Of Canada Issues Positive Forecast for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE) had its price target hoisted by Royal Bank Of Canada from $17.00 to $18.00 in a research report released on Friday morning,Benzinga reports. They currently have an outperform rating on the stock.

A number of other analysts have also commented on SAFE. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Safehold in a report on Saturday, November 22nd. Morgan Stanley downgraded Safehold from an “equal weight” rating to an “underweight” rating and dropped their price objective for the company from $16.00 to $14.00 in a report on Thursday, January 22nd. Citigroup reissued a “market outperform” rating on shares of Safehold in a research note on Monday, December 1st. Truist Financial boosted their target price on Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday. Finally, Zacks Research upgraded shares of Safehold from a “hold” rating to a “strong-buy” rating in a research report on Monday, January 26th. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Safehold has a consensus rating of “Hold” and a consensus target price of $19.22.

Safehold Stock Up 1.9%

SAFE opened at $15.92 on Friday. The firm’s 50-day simple moving average is $14.46 and its 200-day simple moving average is $14.77. The company has a debt-to-equity ratio of 1.88, a quick ratio of 34.97 and a current ratio of 34.97. Safehold has a twelve month low of $12.76 and a twelve month high of $19.53. The firm has a market cap of $1.14 billion, a price-to-earnings ratio of 9.95, a PEG ratio of 2.16 and a beta of 1.86.

Safehold (NYSE:SAFE) last announced its earnings results on Wednesday, February 11th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $97.87 million during the quarter, compared to analyst estimates of $96.71 million. Safehold had a return on equity of 4.92% and a net margin of 29.69%. Equities research analysts anticipate that Safehold will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Tuesday, December 30th were paid a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, December 30th. Safehold’s dividend payout ratio is presently 43.75%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Royal Bank of Canada increased its position in shares of Safehold by 21.1% during the first quarter. Royal Bank of Canada now owns 44,462 shares of the company’s stock worth $833,000 after acquiring an additional 7,743 shares in the last quarter. Amundi increased its holdings in Safehold by 2.6% during the 1st quarter. Amundi now owns 50,855 shares of the company’s stock worth $906,000 after purchasing an additional 1,306 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of Safehold by 1,106.2% in the 1st quarter. AQR Capital Management LLC now owns 195,530 shares of the company’s stock valued at $3,660,000 after purchasing an additional 179,319 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Safehold by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company’s stock valued at $576,000 after purchasing an additional 1,308 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Safehold by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company’s stock valued at $8,120,000 after purchasing an additional 15,280 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

About Safehold

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.