Truist Financial Boosts Safehold (NYSE:SAFE) Price Target to $22.00

Safehold (NYSE:SAFE) had its price objective lifted by Truist Financial from $21.00 to $22.00 in a research report released on Monday morning, Benzinga reports. The firm currently has a hold rating on the stock.

A number of other equities research analysts have also issued reports on the stock. JMP Securities reaffirmed a market outperform rating and set a $35.00 target price on shares of Safehold in a report on Thursday, May 16th. Wedbush raised their target price on Safehold from $20.00 to $25.00 and gave the stock a neutral rating in a research note on Wednesday, July 31st. Mizuho lowered Safehold from a buy rating to a neutral rating and reduced their price target for the stock from $22.00 to $20.00 in a report on Friday, May 10th. JPMorgan Chase & Co. dropped their price objective on shares of Safehold from $23.00 to $21.00 and set a neutral rating for the company in a report on Wednesday, April 17th. Finally, The Goldman Sachs Group lifted their target price on shares of Safehold from $25.00 to $29.00 and gave the stock a buy rating in a research note on Friday, June 28th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, Safehold has a consensus rating of Moderate Buy and a consensus price target of $28.22.

Safehold Trading Up 2.3 %

Shares of SAFE stock opened at $23.02 on Monday. The stock has a 50 day simple moving average of $20.33 and a 200-day simple moving average of $20.09. Safehold has a 1-year low of $15.00 and a 1-year high of $24.03. The company has a market cap of $1.64 billion, a price-to-earnings ratio of -51.16 and a beta of 1.65. The company has a debt-to-equity ratio of 1.76, a current ratio of 38.83 and a quick ratio of 42.51.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $89.90 million for the quarter, compared to analyst estimates of $87.28 million. During the same period last year, the company posted $0.35 EPS. Safehold’s quarterly revenue was up 4.9% compared to the same quarter last year. On average, equities research analysts expect that Safehold will post 1.59 EPS for the current fiscal year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a $0.177 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.08%. Safehold’s payout ratio is presently -155.56%.

Hedge Funds Weigh In On Safehold

Institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Safehold by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock valued at $161,949,000 after purchasing an additional 141,245 shares during the period. Paralel Advisors LLC purchased a new stake in Safehold during the 4th quarter worth about $1,944,000. Sei Investments Co. increased its holdings in Safehold by 62.4% during the 1st 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 period. Natixis Advisors L.P. boosted its stake in shares of Safehold by 372.6% in the 4th quarter. Natixis Advisors L.P. now owns 59,278 shares of the company’s stock valued at $1,386,000 after buying an additional 46,735 shares during the period. Finally, Heitman Real Estate Securities LLC purchased a new position in shares of Safehold in the 4th quarter valued at about $5,005,000. 70.38% of the stock is owned by institutional investors and hedge funds.

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.