Safehold (NYSE:SAFE) Given “Market Outperform” Rating at JMP Securities

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

Other equities analysts also recently issued reports about the stock. Royal Bank of Canada upped their price target on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Mizuho upped their price target on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Morgan Stanley cut shares of Safehold from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $30.00 to $19.00 in a research report on Wednesday, January 15th. The Goldman Sachs Group lowered their price objective on shares of Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Wedbush reissued a “neutral” rating and issued a $23.00 price objective (down from $25.00) on shares of Safehold in a research report on Monday, November 4th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $26.00.

Safehold Stock Performance

Safehold stock opened at $17.87 on Thursday. The company has a market cap of $1.28 billion, a PE ratio of 10.51 and a beta of 1.66. Safehold has a twelve month low of $15.55 and a twelve month high of $28.80. The company’s 50-day moving average price is $18.33 and its 200-day moving average price is $21.79. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. Safehold had a net margin of 32.08% and a return on equity of 4.79%. During the same quarter in the prior year, the business posted $0.36 EPS. On average, equities research analysts forecast that Safehold will post 1.57 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were given a dividend of $0.177 per share. The ex-dividend date was Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a yield of 3.96%. Safehold’s payout ratio is 47.30%.

Institutional Investors Weigh In On Safehold

Hedge funds and other institutional investors have recently bought and sold shares of the company. JPMorgan Chase & Co. lifted its position in Safehold by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company’s stock valued at $17,369,000 after acquiring an additional 91,965 shares during the last quarter. Victory Capital Management Inc. acquired a new position in Safehold during the 3rd quarter valued at approximately $639,000. Charles Schwab Investment Management Inc. increased its stake in Safehold by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after purchasing an additional 39,320 shares in the last quarter. Barclays PLC increased its stake in Safehold by 317.9% during the 3rd quarter. Barclays PLC now owns 85,932 shares of the company’s stock valued at $2,254,000 after purchasing an additional 65,370 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Safehold by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock valued at $32,734,000 after purchasing an additional 38,074 shares in the last quarter. Hedge funds and other institutional investors 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.