Safehold (NYSE:SAFE) Stock Rating Upgraded by Raymond James

by · The Markets Daily

Raymond James upgraded shares of Safehold (NYSE:SAFE – Free Report) from a market perform rating to an outperform rating in a research note released on Thursday, MarketBeat reports. The brokerage currently has $34.00 price target on the stock.

A number of other analysts also recently issued reports on SAFE. Truist Financial increased their price target on shares of Safehold from $21.00 to $22.00 and gave the stock a hold rating in a report on Monday, August 5th. The Goldman Sachs Group increased their target price on shares of Safehold from $25.00 to $38.00 and gave the stock a buy rating in a research note on Wednesday, September 18th. Finally, Wedbush lifted their price target on Safehold from $20.00 to $25.00 and gave the company a neutral rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $28.56.

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Safehold Stock Performance

NYSE SAFE opened at $26.95 on Thursday. Safehold has a fifty-two week low of $15.00 and a fifty-two week high of $28.80. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83. The firm has a market capitalization of $1.93 billion, a P/E ratio of -59.89 and a beta of 1.65. The stock has a 50-day simple moving average of $24.06 and a two-hundred day simple moving average of $21.05.

Safehold (NYSE:SAFE – Get Free Report) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $89.90 million during the quarter, compared to the consensus estimate of $87.28 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. Safehold’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.35 earnings per share. On average, equities analysts forecast that Safehold will post 1.59 earnings per share for the current year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a dividend of $0.177 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 2.63%. Safehold’s dividend payout ratio (DPR) is currently -155.56%.

Institutional Trading of Safehold

Several large investors have recently made changes to their positions in the company. UBS Group AG lifted its holdings in Safehold by 1,002.8% in the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock valued at $51,625,000 after purchasing an additional 2,006,133 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in shares of Safehold in the first quarter worth about $7,227,000. Long Pond Capital LP lifted its stake in shares of Safehold by 14.9% in the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after buying an additional 345,661 shares in the last quarter. Sei Investments Co. boosted its position in 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 acquiring an additional 249,500 shares during the last quarter. Finally, Heitman Real Estate Securities LLC purchased a new stake in Safehold during the 4th quarter valued at about $5,005,000. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

About Safehold

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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.

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