Safehold (NYSE:SAFE) Sets New 12-Month High Following Analyst Upgrade

Safehold Inc. (NYSE:SAFE)’s stock price reached a new 52-week high during trading on Wednesday after The Goldman Sachs Group raised their price target on the stock from $25.00 to $38.00. The Goldman Sachs Group currently has a buy rating on the stock. Safehold traded as high as $27.95 and last traded at $27.92, with a volume of 21842 shares traded. The stock had previously closed at $27.20.

Several other research analysts have also commented on SAFE. Wedbush lifted their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Truist Financial raised their price objective on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $27.88.

Institutional Trading of Safehold

A number of hedge funds and other institutional investors have recently bought and sold shares of SAFE. UBS Group AG raised its stake in shares of Safehold by 1,002.8% during the fourth quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock valued at $51,625,000 after acquiring an additional 2,006,133 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in Safehold during the 1st quarter worth $7,227,000. Long Pond Capital LP raised its position in Safehold by 14.9% during the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after purchasing an additional 345,661 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after buying an additional 249,500 shares during the period. Finally, Heitman Real Estate Securities LLC purchased a new stake in shares of Safehold in the 4th quarter worth $5,005,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Stock Up 1.9 %

The firm has a market cap of $1.98 billion, a P/E ratio of -60.44 and a beta of 1.65. The company has a current ratio of 38.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.76. The business has a 50-day moving average price of $23.63 and a 200-day moving average price of $20.90.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, July 29th. The company reported $0.41 earnings per share (EPS) 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 company had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $87.28 million. During the same period in the prior year, the business earned $0.35 EPS. The firm’s quarterly revenue was up 4.9% on a year-over-year basis. On average, equities analysts forecast that Safehold Inc. will post 1.59 EPS 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 $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 2.55%. The ex-dividend date of this dividend is Monday, September 30th. Safehold’s dividend payout ratio (DPR) is -155.56%.

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.