The Goldman Sachs Group Raises Safehold (NYSE:SAFE) Price Target to $38.00

Safehold (NYSE:SAFE) had its price objective raised by The Goldman Sachs Group from $25.00 to $38.00 in a report published on Wednesday morning, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

SAFE has been the topic of a number of other reports. Wedbush boosted their price target 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 boosted their target price on Safehold from $21.00 to $22.00 and gave the company a hold rating in a research report on Monday, August 5th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Moderate Buy and an average price target of $28.56.

Safehold Trading Down 2.0 %

SAFE opened at $26.94 on Wednesday. The business’s 50 day moving average price is $24.06 and its 200 day moving average price is $21.04. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83. The stock has a market capitalization of $1.92 billion, a PE ratio of -59.87 and a beta of 1.65. Safehold has a one year low of $15.00 and a one year high of $28.80.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $89.90 million during 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 revenue was up 4.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.35 EPS. As a group, equities research analysts expect that Safehold will post 1.59 EPS for the current year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be issued a $0.177 dividend. The ex-dividend date is Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a yield of 2.63%. Safehold’s dividend payout ratio (DPR) is presently -155.56%.

Institutional Investors Weigh In On Safehold

Several large investors have recently bought and sold shares of SAFE. Vanguard Group Inc. grew its position in shares of Safehold by 1.8% during the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after buying an additional 141,245 shares in the last quarter. Long Pond Capital LP grew its holdings in Safehold by 14.9% during the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after acquiring an additional 345,661 shares in the last quarter. UBS Group AG increased its position in shares of Safehold by 1,002.8% in the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock valued at $51,625,000 after purchasing an additional 2,006,133 shares during the last quarter. Sei Investments Co. raised its holdings in shares of Safehold by 3.2% in the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock valued at $12,926,000 after purchasing an additional 20,483 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Safehold by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 613,450 shares of the company’s stock valued at $14,355,000 after purchasing an additional 40,556 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

About Safehold

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.