Safehold (NYSE:SAFE) Price Target Raised to $18.00

Safehold (NYSE:SAFE) had its price objective boosted by Royal Bank Of Canada from $17.00 to $18.00 in a report published on Friday,Benzinga reports. The firm currently has an outperform rating on the stock.

SAFE has been the topic of a number of other research reports. Zacks Research raised shares of Safehold from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Mizuho upped their target price on shares of Safehold from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Weiss Ratings reissued a “hold (c-)” rating on shares of Safehold in a research note on Thursday, January 22nd. Truist Financial raised their price target on shares of Safehold from $16.00 to $17.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating on shares of Safehold in a report on Saturday, November 22nd. One investment analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have issued a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $19.22.

Safehold Trading Up 1.9%

SAFE stock opened at $15.92 on Friday. The business has a fifty day moving average price of $14.46 and a 200 day moving average price of $14.78. The company has a debt-to-equity ratio of 1.88, a current ratio of 34.97 and a quick ratio of 34.97. Safehold has a fifty-two week low of $12.76 and a fifty-two week high of $19.53. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 9.95, a P/E/G ratio of 2.21 and a beta of 1.86.

Safehold (NYSE:SAFE) last announced its earnings results on Wednesday, February 11th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Safehold had a return on equity of 4.92% and a net margin of 29.69%.The company had revenue of $97.87 million for the quarter, compared to analysts’ expectations of $96.71 million. Analysts expect that Safehold will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Stockholders of record on Tuesday, December 30th were given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, December 30th. Safehold’s payout ratio is presently 44.38%.

Institutional Trading of Safehold

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

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.