Safehold Inc. (NYSE:SAFE – Get Free Report)’s share price hit a new 52-week high during trading on Thursday . The stock traded as high as $24.13 and last traded at $24.10, with a volume of 104805 shares trading hands. The stock had previously closed at $23.88.
Analyst Ratings Changes
A number of equities analysts have recently issued reports on SAFE shares. Wedbush increased their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Truist Financial lifted their price target on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Mizuho lowered Safehold from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Friday, May 10th. The Goldman Sachs Group lifted their target price on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Finally, Royal Bank of Canada reduced their price objective on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Safehold currently has a consensus rating of “Moderate Buy” and an average price target of $28.22.
Safehold Trading Up 1.0 %
The company has a current ratio of 38.83, a quick ratio of 42.51 and a debt-to-equity ratio of 1.76. The firm has a market cap of $1.72 billion, a PE ratio of -53.07 and a beta of 1.65. The company has a 50-day simple moving average of $21.13 and a 200 day simple moving average of $20.26.
Safehold (NYSE:SAFE – Get Free Report) last posted its earnings results on Monday, July 29th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $87.28 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The company’s quarterly revenue was up 4.9% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. As a group, sell-side analysts forecast that Safehold Inc. will post 1.59 earnings per share for the current fiscal year.
Safehold Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a dividend of $0.177 per share. The ex-dividend date was Friday, June 28th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 2.94%. Safehold’s payout ratio is currently -155.56%.
Institutional Investors Weigh In On Safehold
A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. grew its position in shares of Safehold by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock valued at $161,949,000 after purchasing an additional 141,245 shares in the last quarter. Paralel Advisors LLC purchased a new stake in Safehold in the 4th quarter valued at $1,944,000. Sei Investments Co. increased its stake in shares of Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after acquiring an additional 249,500 shares during the last quarter. Natixis Advisors L.P. raised its holdings in shares of Safehold by 372.6% during the 4th quarter. Natixis Advisors L.P. now owns 59,278 shares of the company’s stock worth $1,386,000 after acquiring an additional 46,735 shares during the period. Finally, Heitman Real Estate Securities LLC acquired a new position in shares of Safehold during the 4th quarter valued at about $5,005,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.
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.