Safehold’s (SAFE) Market Outperform Rating Reaffirmed at JMP Securities

JMP Securities reissued their market outperform rating on shares of Safehold (NYSE:SAFE) in a report released on Tuesday morning, Benzinga reports. They currently have a $35.00 target price on the stock.

SAFE has been the subject of several other reports. JPMorgan Chase & Co. decreased their price objective on Safehold from $23.00 to $21.00 and set a neutral rating for the company in a research report on Wednesday, April 17th. Mizuho lowered their price objective on shares of Safehold from $25.00 to $22.00 and set a buy rating for the company in a research report on Thursday, March 7th. Royal Bank of Canada cut their price objective on shares of Safehold from $33.00 to $32.00 and set an outperform rating on the stock in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group upped their target price on shares of Safehold from $25.00 to $29.00 and gave the stock a buy rating in a research note on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Safehold has a consensus rating of Moderate Buy and an average price target of $27.78.

Safehold Trading Up 3.7 %

Shares of NYSE SAFE opened at $19.80 on Tuesday. Safehold has a twelve month low of $15.00 and a twelve month high of $29.11. The stock has a market cap of $1.41 billion, a price-to-earnings ratio of -24.44 and a beta of 1.48. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78. The company’s fifty day moving average is $19.69 and its 200-day moving average is $20.10.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The business had revenue of $93.20 million for the quarter, compared to the consensus estimate of $88.20 million. During the same quarter last year, the business posted $0.41 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year. Equities research analysts predict that Safehold will post 1.53 EPS for the current year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were issued a dividend of $0.177 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.71 annualized dividend and a yield of 3.58%. Safehold’s payout ratio is presently -87.65%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. UBS Group AG boosted its holdings in shares of Safehold by 1,002.8% in the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock valued at $51,625,000 after buying an additional 2,006,133 shares during the last quarter. Aew Capital Management L P acquired a new stake in Safehold in the fourth quarter valued at $25,605,000. Vanguard Group Inc. grew its position in shares of Safehold by 11.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock valued at $137,234,000 after acquiring an additional 816,033 shares during the period. Peregrine Capital Management LLC acquired a new position in shares of Safehold during the 1st quarter worth about $7,227,000. Finally, Sei Investments Co. raised its holdings in shares of Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after purchasing an additional 249,500 shares during the period. 70.38% of the stock is currently owned by institutional investors.

Safehold Company Profile

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.