Safehold (NYSE:SAFE) Stock Price Up 5.1% – Time to Buy?

Safehold Inc. (NYSE:SAFE)’s stock price shot up 5.1% during mid-day trading on Monday . The company traded as high as $21.76 and last traded at $21.75. 82,536 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 344,017 shares. The stock had previously closed at $20.70.

Wall Street Analyst Weigh In

A number of research analysts have commented on SAFE shares. Royal Bank of Canada increased their price objective on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research report on Tuesday, October 29th. The Goldman Sachs Group lowered their price objective on Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 1st. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Thursday, September 19th. Finally, Truist Financial boosted 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. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.22.

Safehold Stock Performance

The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. The stock has a 50 day moving average of $24.79 and a 200 day moving average of $22.04. The stock has a market capitalization of $1.48 billion, a P/E ratio of 12.16 and a beta of 1.68.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $90.70 million during the quarter, compared to analyst estimates of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.33 earnings per share. Equities analysts predict that Safehold Inc. will post 1.57 EPS for the current year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.177 per share. The ex-dividend date was Monday, September 30th. This represents a $0.71 annualized dividend and a dividend yield of 3.43%. Safehold’s dividend payout ratio is presently 41.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of SAFE. GAMMA Investing LLC boosted its holdings in shares of Safehold by 108.7% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after acquiring an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Safehold by 35.4% in 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 period. First Trust Direct Indexing L.P. bought a new position in Safehold during the 3rd quarter valued at $234,000. ProShare Advisors LLC increased its position in shares of 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 during the period. Finally, abrdn plc bought a new stake in shares of Safehold in the 3rd quarter worth $271,000. 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.