Safehold (NYSE:SAFE) Price Target Raised to $16.00

Safehold (NYSE:SAFE) had its target price raised by Mizuho from $15.00 to $16.00 in a report released on Wednesday morning,Benzinga reports. They currently have a neutral rating on the stock.

Several other analysts have also recently issued reports on the company. Truist Financial increased their price objective on Safehold from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Wednesday, February 18th. Zacks Research raised Safehold from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. Royal Bank Of Canada upped their price target on Safehold from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Safehold in a research report on Thursday, January 22nd. Finally, The Goldman Sachs Group reiterated a “buy” rating on shares of Safehold in a research note on Saturday, November 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $19.33.

Safehold Price Performance

Shares of SAFE opened at $14.51 on Wednesday. The company has a market cap of $1.04 billion, a P/E ratio of 9.07, a PEG ratio of 2.04 and a beta of 1.80. Safehold has a fifty-two week low of $12.76 and a fifty-two week high of $19.32. The company has a quick ratio of 34.97, a current ratio of 34.97 and a debt-to-equity ratio of 1.88. The firm’s 50 day moving average price is $15.04 and its 200 day moving average price is $14.83.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $97.87 million during the quarter, compared to analysts’ expectations of $96.71 million. Safehold had a net margin of 29.69% and a return on equity of 4.92%. On average, research analysts forecast that Safehold will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be paid a dividend of $0.177 per share. The ex-dividend date is Tuesday, March 31st. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.9%. Safehold’s payout ratio is presently 44.38%.

Institutional Trading of Safehold

Hedge funds and other institutional investors have recently bought and sold shares of the business. Long Pond Capital LP purchased a new stake in Safehold during the 4th quarter worth about $12,936,000. Michelson Medical Research Foundation Inc. purchased a new position in shares of Safehold in the 2nd quarter valued at about $4,629,000. Deutsche Bank AG increased its holdings in shares of Safehold by 339.9% in the 4th quarter. Deutsche Bank AG now owns 370,042 shares of the company’s stock valued at $5,066,000 after acquiring an additional 285,920 shares during the last quarter. Algert Global LLC raised its position in shares of Safehold by 137.4% during the 3rd quarter. Algert Global LLC now owns 486,386 shares of the company’s stock worth $7,534,000 after acquiring an additional 281,478 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its position in shares of Safehold by 24.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,411,158 shares of the company’s stock worth $21,859,000 after acquiring an additional 279,664 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

About Safehold

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.