Brokerages Set Safehold Inc. (NYSE:SAFE) Price Target at $23.50

Shares of Safehold Inc. (NYSE:SAFE) have earned a consensus recommendation of “Moderate Buy” from the eight research firms that are presently covering the company, Marketbeat reports. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $23.50.

Several research analysts have recently weighed in on the stock. Mizuho cut their price objective on shares of Safehold from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. The Goldman Sachs Group cut their price target on shares of Safehold from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Royal Bank of Canada cut their price target on shares of Safehold from $21.00 to $20.00 and set an “outperform” rating on the stock in a report on Monday, May 19th. Wedbush restated a “neutral” rating and issued a $20.00 price target on shares of Safehold in a report on Monday, March 31st. Finally, JMP Securities restated a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a report on Thursday, February 6th.

Institutional Trading of Safehold

Hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. grew its position in shares of Safehold by 1.2% during the first quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company’s stock worth $146,352,000 after buying an additional 93,236 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Safehold by 0.9% during the first quarter. T. Rowe Price Investment Management Inc. now owns 4,305,041 shares of the company’s stock worth $80,591,000 after buying an additional 38,272 shares in the last quarter. American Century Companies Inc. grew its position in shares of Safehold by 11.1% during the fourth quarter. American Century Companies Inc. now owns 1,515,743 shares of the company’s stock worth $28,011,000 after buying an additional 150,976 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Safehold by 58.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,051,078 shares of the company’s stock worth $19,424,000 after buying an additional 388,899 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in shares of Safehold by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company’s stock worth $13,251,000 after buying an additional 29,348 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Price Performance

NYSE:SAFE opened at $15.05 on Friday. The firm has a market cap of $1.08 billion, a price-to-earnings ratio of 10.17 and a beta of 1.86. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82. The company’s 50-day moving average is $15.93 and its two-hundred day moving average is $17.66. Safehold has a 12-month low of $13.68 and a 12-month high of $28.80.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $97.68 million for the quarter, compared to analyst estimates of $95.55 million. Safehold had a net margin of 28.92% and a return on equity of 4.76%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.43 EPS. Research analysts expect that Safehold will post 1.58 EPS for the current year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were paid a dividend of $0.177 per share. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.70%. Safehold’s dividend payout ratio is currently 47.95%.

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.