Brokerages Set Safehold Inc. (NYSE:SAFE) PT at $78.60

Posted by on Jun 9th, 2022

Safehold Inc. (NYSE:SAFE – Get Rating) has been assigned an average rating of “Hold” from the seven research firms that are presently covering the stock, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating on the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $78.60.

Several equities research analysts have weighed in on the stock. TheStreet downgraded shares of Safehold from a “b-” rating to a “c+” rating in a research note on Monday, April 18th. JPMorgan Chase & Co. decreased their price target on shares of Safehold from $66.00 to $52.00 in a research note on Wednesday, May 18th. Morgan Stanley decreased their price target on shares of Safehold from $150.00 to $140.00 and set an “overweight” rating for the company in a research note on Tuesday, March 15th. Zacks Investment Research downgraded shares of Safehold from a “hold” rating to a “sell” rating in a research note on Friday, April 22nd. Finally, Truist Financial decreased their target price on shares of Safehold from $68.00 to $46.00 and set a “na” rating for the company in a research report on Monday, May 16th.

SAFE stock opened at $41.20 on Thursday. The firm has a market cap of $2.55 billion, a price-to-earnings ratio of 28.03 and a beta of 0.06. Safehold has a 12-month low of $40.21 and a 12-month high of $95.29. The company’s fifty day simple moving average is $46.19 and its 200 day simple moving average is $58.95.

Safehold (NYSE:SAFE – Get Rating) last posted its quarterly earnings results on Thursday, April 21st. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.42 by $0.01. Safehold had a net margin of 39.77% and a return on equity of 4.78%. The firm had revenue of $60.40 million during the quarter, compared to the consensus estimate of $59.38 million. During the same period in the previous year, the firm posted $0.32 earnings per share. The business’s revenue was up 38.9% compared to the same quarter last year. Equities analysts anticipate that Safehold will post 1.7 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.65%. Safehold’s dividend payout ratio is presently 46.26%.

Hedge funds have recently bought and sold shares of the company. Meiji Yasuda Asset Management Co Ltd. bought a new stake in Safehold during the first quarter worth $200,000. Alyeska Investment Group L.P. bought a new stake in Safehold during the first quarter worth $7,233,000. Point72 Hong Kong Ltd lifted its holdings in Safehold by 17.5% during the first quarter. Point72 Hong Kong Ltd now owns 2,953 shares of the company’s stock worth $164,000 after acquiring an additional 440 shares during the period. Quantbot Technologies LP lifted its holdings in Safehold by 725.0% during the first quarter. Quantbot Technologies LP now owns 3,300 shares of the company’s stock worth $182,000 after acquiring an additional 2,900 shares during the period. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Safehold during the first quarter worth $273,000. Institutional investors own 25.61% of the company’s stock.

About Safehold (Get Rating)

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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

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