Safehold (NYSE:SAFE) Upgraded at Raymond James

Raymond James upgraded shares of Safehold (NYSE:SAFE) from a market perform rating to an outperform rating in a research report released on Thursday morning, Marketbeat Ratings reports. The firm currently has $34.00 price objective on the stock.

Several other research analysts also recently weighed in on SAFE. Wedbush upped their price target on shares of Safehold from $20.00 to $25.00 and gave the stock a neutral rating in a research report on Wednesday, July 31st. The Goldman Sachs Group upped their price target on shares of Safehold from $25.00 to $38.00 and gave the stock a buy rating in a research report on Wednesday. Finally, Truist Financial upped their price target on shares of Safehold from $21.00 to $22.00 and gave the stock 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 given a buy rating to the company. Based on data from MarketBeat, Safehold currently has an average rating of Moderate Buy and a consensus target price of $28.56.

Safehold Trading Down 2.0 %

Shares of Safehold stock opened at $26.95 on Thursday. The firm has a 50-day simple moving average of $24.06 and a two-hundred day simple moving average of $21.05. The company has a market cap of $1.93 billion, a P/E ratio of -59.89 and a beta of 1.65. Safehold has a fifty-two week low of $15.00 and a fifty-two week high of $28.80. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83.

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 the consensus estimate of $0.38 by $0.03. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The firm had revenue of $89.90 million during the quarter, compared to the consensus estimate of $87.28 million. During the same quarter in the prior year, the firm earned $0.35 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, equities analysts predict that Safehold will post 1.59 earnings per share for the current fiscal year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a dividend of $0.177 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 2.63%. Safehold’s dividend payout ratio is presently -155.56%.

Institutional Trading of Safehold

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC grew its stake in shares of Safehold by 49.3% in the 1st quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock valued at $44,000 after buying an additional 702 shares during the period. Roble Belko & Company Inc purchased a new stake in shares of Safehold in the 1st quarter valued at approximately $45,000. PNC Financial Services Group Inc. grew its stake in shares of Safehold by 65.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock valued at $175,000 after buying an additional 2,965 shares during the period. ProShare Advisors LLC grew its stake in shares of Safehold by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after buying an additional 676 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Safehold in the 2nd quarter valued at approximately $204,000. 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.