Safehold Inc. (NYSE:SAFE) Receives Consensus Recommendation of “Hold” from Brokerages

Safehold Inc. (NYSE:SAFE) has been given a consensus recommendation of “Hold” by the nine brokerages that are presently covering the firm, Marketbeat.com reports. Five investment analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price target among brokers that have issued a report on the stock in the last year is $25.56.

SAFE has been the subject of several research analyst reports. Mizuho upped their price objective on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada upped their price objective on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Morgan Stanley downgraded shares of Safehold from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $30.00 to $19.00 in a report on Wednesday, January 15th. The Goldman Sachs Group cut their price target on shares of Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Finally, Wedbush reissued a “neutral” rating and issued a $19.00 price target (down from $20.00) on shares of Safehold in a report on Friday, February 7th.

Hedge Funds Weigh In On Safehold

A number of large investors have recently made changes to their positions in SAFE. Smartleaf Asset Management LLC increased its holdings in shares of Safehold by 268.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock valued at $26,000 after purchasing an additional 1,020 shares during the period. GAMMA Investing LLC increased its holdings in shares of Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after purchasing an additional 920 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Safehold by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after purchasing an additional 471 shares during the period. KBC Group NV increased its holdings in Safehold by 79.3% in the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after buying an additional 1,275 shares during the last quarter. Finally, Vestcor Inc acquired a new position in Safehold in the third quarter worth approximately $110,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Stock Performance

SAFE stock opened at $17.46 on Friday. The company has a market capitalization of $1.25 billion, a P/E ratio of 11.80 and a beta of 1.66. The company has a 50-day simple moving average of $17.95 and a 200 day simple moving average of $21.62. Safehold has a fifty-two week low of $15.55 and a fifty-two week high of $28.80. The company has a quick ratio of 37.83, a current ratio of 37.37 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same period in the prior year, the company earned $0.36 earnings per share. Sell-side analysts predict that Safehold will post 1.59 earnings per share for the current fiscal year.

Safehold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.177 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.05%. Safehold’s dividend payout ratio is 47.97%.

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.