Safehold (NYSE:SAFE) PT Lowered to $29.00

Safehold (NYSE:SAFE) had its target price cut by Royal Bank of Canada from $32.00 to $29.00 in a report issued on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

Other analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. decreased their price target on shares of Safehold from $23.00 to $21.00 and set a neutral rating for the company in a research note on Wednesday, April 17th. The Goldman Sachs Group raised their price target on Safehold from $25.00 to $29.00 and gave the stock a buy rating in a report on Thursday, January 11th. JMP Securities reaffirmed a market outperform rating and set a $35.00 price objective on shares of Safehold in a research note on Tuesday. Finally, Mizuho lowered their target price on Safehold from $25.00 to $22.00 and set a buy rating on the stock in a research note on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of Moderate Buy and an average price target of $27.44.

Safehold Stock Performance

Shares of SAFE traded up $0.65 during midday trading on Wednesday, reaching $19.93. 510,683 shares of the stock were exchanged, compared to its average volume of 342,596. Safehold has a twelve month low of $15.00 and a twelve month high of $29.11. The company has a debt-to-equity ratio of 1.78, a current ratio of 36.61 and a quick ratio of 36.61. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of -44.29 and a beta of 1.48. The business’s 50-day moving average price is $19.68 and its 200 day moving average price is $20.09.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Monday, May 6th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. The company had revenue of $93.20 million for the quarter, compared to analyst estimates of $88.20 million. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The firm’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 earnings per share. On average, sell-side analysts expect that Safehold will post 1.53 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.177 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.71 annualized dividend and a dividend yield of 3.55%. Safehold’s dividend payout ratio is currently -155.56%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its position in shares of Safehold by 11.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock worth $137,234,000 after purchasing an additional 816,033 shares in the last quarter. UBS Group AG boosted its holdings in Safehold by 1,002.8% during the fourth quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock worth $51,625,000 after buying an additional 2,006,133 shares in the last quarter. Aew Capital Management L P acquired a new position in Safehold during the fourth quarter worth about $25,605,000. Mesirow Institutional Investment Management Inc. increased its holdings in Safehold by 33.5% in the fourth quarter. Mesirow Institutional Investment Management Inc. now owns 664,542 shares of the company’s stock valued at $15,550,000 after buying an additional 166,846 shares in the last quarter. Finally, Sei Investments Co. increased its holdings in Safehold by 62.4% in the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after buying an additional 249,500 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

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.