Safehold Inc. (NYSE:SAFE) Given Consensus Rating of “Hold” by Brokerages

Safehold Inc. (NYSE:SAFE) has been given a consensus rating of “Hold” by the twelve analysts that are presently covering the firm, MarketBeat Ratings reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 12 month price objective among brokers that have covered the stock in the last year is $19.00.

Several research firms have commented on SAFE. Citigroup reaffirmed a “market outperform” rating on shares of Safehold in a report on Monday, December 1st. Morgan Stanley lowered Safehold from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $16.00 to $14.00 in a research note on Thursday, January 22nd. Weiss Ratings reissued a “hold (c-)” rating on shares of Safehold in a report on Thursday, January 22nd. Mizuho increased their price objective on shares of Safehold from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Finally, Royal Bank Of Canada decreased their target price on shares of Safehold from $20.00 to $17.00 and set an “outperform” rating on the stock in a research report on Thursday, November 6th.

Safehold Trading Up 2.2%

Shares of SAFE stock opened at $13.98 on Friday. The firm has a market capitalization of $1.00 billion, a P/E ratio of 8.90, a price-to-earnings-growth ratio of 1.90 and a beta of 1.84. Safehold has a 1 year low of $12.76 and a 1 year high of $19.53. The firm’s fifty day simple moving average is $14.01 and its 200 day simple moving average is $14.73. The company has a current ratio of 36.91, a quick ratio of 36.91 and a debt-to-equity ratio of 1.86.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.40 by $0.01. The company had revenue of $96.16 million for the quarter, compared to analyst estimates of $95.25 million. Safehold had a net margin of 29.67% and a return on equity of 4.78%. The business’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the business posted $0.37 EPS. As a group, sell-side analysts predict that Safehold will post 1.58 EPS for the current year.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Tuesday, December 30th were issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 5.1%. The ex-dividend date of this dividend was Tuesday, December 30th. Safehold’s payout ratio is presently 45.22%.

Hedge Funds Weigh In On Safehold

Several hedge funds and other institutional investors have recently modified their holdings of the stock. JPMorgan Chase & Co. grew its position in Safehold by 24.7% in the third quarter. JPMorgan Chase & Co. now owns 1,411,158 shares of the company’s stock valued at $21,859,000 after acquiring an additional 279,664 shares during the period. Geode Capital Management LLC boosted its stake in shares of Safehold by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,341,663 shares of the company’s stock valued at $20,878,000 after purchasing an additional 65,941 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Safehold by 4.6% in the 2nd quarter. Invesco Ltd. now owns 619,951 shares of the company’s stock worth $9,646,000 after purchasing an additional 27,395 shares during the last quarter. Algert Global LLC increased 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 purchasing an additional 281,478 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its holdings in Safehold by 0.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 434,234 shares of the company’s stock valued at $6,757,000 after purchasing an additional 2,470 shares during the last quarter. Institutional investors own 70.38% of the company’s stock.

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.