Safehold (SAFE) – Investment Analysts’ Recent Ratings Updates

Several brokerages have updated their recommendations and price targets on shares of Safehold (NYSE: SAFE) in the last few weeks:

• 11/4/2024 – Safehold had its “neutral” rating reaffirmed by analysts at Wedbush. They now have a $23.00 price target on the stock, down previously from $25.00.
• 11/1/2024 – Safehold had its price target lowered by analysts at The Goldman Sachs Group, Inc. from $38.00 to $30.00. They now have a “buy” rating on the stock.
• 10/31/2024 – Safehold had its price target raised by analysts at Mizuho from $20.00 to $25.00. They now have a “neutral” rating on the stock.
• 10/30/2024 – Safehold had its price target raised by analysts at Royal Bank of Canada from $30.00 to $31.00. They now have an “outperform” rating on the stock.
• 10/29/2024 – Safehold had its “market outperform” rating reaffirmed by analysts at JMP Securities. They now have a $35.00 price target on the stock.
• 9/19/2024 – Safehold was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating. They now have a $34.00 price target on the stock.
• 9/18/2024 – Safehold had its price target raised by analysts at The Goldman Sachs Group, Inc. from $25.00 to $38.00. They now have a “buy” rating on the stock.

Safehold Price Performance

SAFE stock traded up $0.16 during midday trading on Monday, reaching $21.36. The stock had a trading volume of 160,174 shares, compared to its average volume of 348,688. Safehold Inc. has a 52-week low of $16.44 and a 52-week high of $28.80. The company has a current ratio of 37.83, a quick ratio of 37.83 and a debt-to-equity ratio of 1.85. The company’s fifty day simple moving average is $24.54 and its 200 day simple moving average is $22.08. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 12.56 and a beta of 1.68.

Safehold (NYSE:SAFE) last posted 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 for the quarter, compared to analyst estimates of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.33 EPS. As a group, sell-side analysts predict that Safehold Inc. will post 1.56 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio is currently 41.76%.

Hedge Funds Weigh In On Safehold

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in Safehold by 1.8% during the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after purchasing an additional 141,245 shares during the last quarter. Sei Investments Co. raised its stake in shares of Safehold by 62.4% during the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after purchasing an additional 249,500 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Safehold during the first quarter worth approximately $4,400,000. SG Americas Securities LLC purchased a new stake in shares of Safehold during the first quarter worth approximately $1,979,000. Finally, Angeles Wealth Management LLC purchased a new stake in shares of Safehold during the second quarter worth approximately $585,000. 70.38% of the stock is owned by institutional investors and hedge funds.

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.