Safehold (NYSE:SAFE) Price Target Raised to $31.00 at Royal Bank of Canada

Safehold (NYSE:SAFE) had its price target boosted by Royal Bank of Canada from $30.00 to $31.00 in a report published on Wednesday, Benzinga reports. They currently have an outperform rating on the stock.

SAFE has been the topic of several other research reports. Truist Financial boosted their price target on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. The Goldman Sachs Group boosted their target price on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a report on Thursday, September 19th. Wedbush boosted 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. Finally, JMP Securities restated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Tuesday. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, Safehold presently has a consensus rating of “Moderate Buy” and an average price target of $28.78.

Safehold Stock Performance

Shares of SAFE opened at $22.17 on Wednesday. The company’s 50 day simple moving average is $25.16 and its 200-day simple moving average is $21.94. The firm has a market cap of $1.58 billion, a PE ratio of -49.27 and a beta of 1.66. Safehold has a 12-month low of $15.35 and a 12-month high of $28.80. The company has a current ratio of 38.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.76.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The company had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. During the same period last year, the firm posted $0.33 EPS. Safehold’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities analysts predict that Safehold will post 1.59 EPS for the current year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 3.19%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio (DPR) is -155.56%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAFE. GAMMA Investing LLC lifted its position in shares of Safehold by 108.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after acquiring an additional 920 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Safehold by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after purchasing an additional 471 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Safehold by 65.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock worth $175,000 after purchasing an additional 2,965 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in Safehold during the third quarter worth $234,000. Finally, ProShare Advisors LLC grew its holdings in Safehold by 7.5% in the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after purchasing an additional 676 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

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.