Safehold (NYSE:SAFE) Given New $30.00 Price Target at The Goldman Sachs Group

Safehold (NYSE:SAFE) had its price target lowered by The Goldman Sachs Group from $38.00 to $30.00 in a research note issued to investors on Friday, Benzinga reports. The Goldman Sachs Group currently has a buy rating on the stock.

SAFE has been the topic of several other research reports. Truist Financial increased their target price on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada increased their price target on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday. Mizuho increased their price target on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday. Wedbush increased their price target on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research report on Tuesday. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $28.44.

Safehold Trading Down 2.7 %

Shares of SAFE stock traded down $0.58 on Friday, hitting $20.70. 490,320 shares of the company’s stock traded hands, compared to its average volume of 345,251. The company has a debt-to-equity ratio of 1.85, a quick ratio of 38.83 and a current ratio of 37.83. Safehold has a one year low of $16.14 and a one year high of $28.80. The company’s fifty day simple moving average is $24.97 and its 200 day simple moving average is $21.96. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.18 and a beta of 1.66.

Safehold (NYSE:SAFE) last released its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The company had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. During the same quarter last year, the firm earned $0.33 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Equities analysts forecast that Safehold will post 1.58 EPS for the current year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.177 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.71 annualized dividend and a dividend yield of 3.42%. Safehold’s dividend payout ratio is 41.18%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. increased its stake in shares of Safehold by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after acquiring an additional 471 shares in the last quarter. ProShare Advisors LLC increased its stake in Safehold by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after purchasing an additional 676 shares in the last quarter. GAMMA Investing LLC increased its stake in 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 purchasing an additional 920 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Safehold by 7.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock valued at $298,000 after purchasing an additional 949 shares in the last quarter. Finally, Illinois Municipal Retirement Fund increased its stake in Safehold by 4.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company’s stock valued at $529,000 after purchasing an additional 1,156 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors.

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.