Safehold (NYSE:SAFE) Trading Up 2.4% – Here’s Why

Safehold Inc. (NYSE:SAFE)’s stock price shot up 2.4% during mid-day trading on Monday . The company traded as high as $18.42 and last traded at $18.35. 11,801 shares were traded during mid-day trading, a decline of 97% from the average session volume of 381,588 shares. The stock had previously closed at $17.92.

Wall Street Analysts Forecast Growth

SAFE has been the topic of a number of recent research reports. The Goldman Sachs Group cut their target price on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JMP Securities reiterated a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research note on Thursday, February 6th. Morgan Stanley downgraded Safehold from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. Finally, Wedbush reaffirmed a “neutral” rating and set a $19.00 target price (down previously from $20.00) on shares of Safehold in a report on Friday, February 7th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $25.56.

Safehold Stock Performance

The company has a quick ratio of 36.59, a current ratio of 36.59 and a debt-to-equity ratio of 1.82. The company has a market cap of $1.32 billion, a P/E ratio of 12.42 and a beta of 1.75. The business has a fifty day simple moving average of $17.61 and a two-hundred day simple moving average of $20.31.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same quarter in the prior year, the business posted $0.36 EPS. On average, sell-side analysts anticipate that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be given a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 3.84%. The ex-dividend date of this dividend is Monday, March 31st. Safehold’s dividend payout ratio (DPR) is presently 47.30%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC boosted its holdings in Safehold by 76.4% in the third quarter. Intech Investment Management LLC now owns 21,711 shares of the company’s stock worth $569,000 after acquiring an additional 9,400 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in Safehold by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after acquiring an additional 39,320 shares during the period. Daiwa Securities Group Inc. grew its stake in shares of Safehold by 5.8% during the 3rd quarter. Daiwa Securities Group Inc. now owns 14,893 shares of the company’s stock worth $391,000 after purchasing an additional 823 shares during the period. FMR LLC increased its holdings in Safehold by 24.9% in the third quarter. FMR LLC now owns 5,840 shares of the company’s stock valued at $153,000 after buying an additional 1,163 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in Safehold by 266.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 349,631 shares of the company’s stock worth $9,171,000 after purchasing an additional 254,227 shares during the period. 70.38% of the stock is currently owned by hedge funds and other 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.