Analysts Set Safehold Inc. (NYSE:SAFE) Target Price at $19.00

Shares of Safehold Inc. (NYSE:SAFE) have earned a consensus recommendation of “Hold” from the eleven ratings firms that are presently covering the firm, Marketbeat reports. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $18.75.

A number of brokerages recently issued reports on SAFE. Weiss Ratings reiterated a “hold (c-)” rating on shares of Safehold in a research report on Tuesday, April 21st. Truist Financial increased their price objective on Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday, February 18th. Royal Bank Of Canada downgraded Safehold from a “market outperform” rating to a “sector perform” rating and lowered their price objective for the stock from $18.00 to $16.00 in a research report on Friday, May 1st. The Goldman Sachs Group lowered their price objective on Safehold from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday. Finally, Wall Street Zen downgraded Safehold from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd.

Institutional Investors Weigh In On Safehold

A number of institutional investors and hedge funds have recently made changes to their positions in SAFE. Royal Bank of Canada raised its position in Safehold by 21.1% during the first quarter. Royal Bank of Canada now owns 44,462 shares of the company’s stock valued at $833,000 after purchasing an additional 7,743 shares in the last quarter. Amundi raised its position in Safehold by 2.6% during the first quarter. Amundi now owns 50,855 shares of the company’s stock valued at $906,000 after purchasing an additional 1,306 shares in the last quarter. AQR Capital Management LLC raised its position in Safehold by 1,106.2% during the first quarter. AQR Capital Management LLC now owns 195,530 shares of the company’s stock valued at $3,660,000 after purchasing an additional 179,319 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Safehold by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company’s stock valued at $576,000 after purchasing an additional 1,308 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in Safehold by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company’s stock valued at $8,120,000 after purchasing an additional 15,280 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Trading Down 3.0%

NYSE:SAFE opened at $14.18 on Friday. The company has a market cap of $1.02 billion, a P/E ratio of 8.92, a P/E/G ratio of 1.52 and a beta of 1.86. The stock’s fifty day moving average price is $14.79 and its two-hundred day moving average price is $14.50. Safehold has a 1 year low of $12.76 and a 1 year high of $17.16. The company has a debt-to-equity ratio of 1.91, a current ratio of 35.58 and a quick ratio of 35.59.

Safehold (NYSE:SAFE) last posted its earnings results on Thursday, April 30th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $110.85 million for the quarter, compared to analysts’ expectations of $96.51 million. Safehold had a return on equity of 4.78% and a net margin of 28.58%. As a group, analysts expect that Safehold will post 1.69 EPS for the current year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were given a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 5.0%. The ex-dividend date was Tuesday, March 31st. Safehold’s dividend payout ratio (DPR) is 44.65%.

Safehold Company Profile

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.