Safehold (NYSE:SAFE) Shares Up 6.9% – What’s Next?

Safehold Inc. (NYSE:SAFE)’s share price was up 6.9% during mid-day trading on Thursday . The stock traded as high as $17.76 and last traded at $17.70. Approximately 275,323 shares changed hands during trading, a decline of 48% from the average daily volume of 528,279 shares. The stock had previously closed at $16.55.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a report on Thursday. Mizuho upped their price objective on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley downgraded shares of Safehold from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $30.00 to $19.00 in a research report on Wednesday, January 15th. The Goldman Sachs Group decreased their price target on shares of Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Royal Bank of Canada lifted their price target on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $26.00.

Safehold Stock Up 8.0 %

The company has a market cap of $1.28 billion, a price-to-earnings ratio of 10.51 and a beta of 1.66. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. The stock’s fifty day moving average is $18.40 and its two-hundred day moving average is $21.81.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Safehold had a return on equity of 4.79% and a net margin of 32.08%. During the same period last year, the company posted $0.36 earnings per share. Sell-side analysts predict that Safehold Inc. will post 1.57 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.177 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a yield of 3.96%. Safehold’s dividend payout ratio (DPR) is presently 41.76%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. State Street Corp grew its stake in shares of Safehold by 2.0% during the 3rd quarter. State Street Corp now owns 2,618,033 shares of the company’s stock worth $69,131,000 after acquiring an additional 51,035 shares during the period. Geode Capital Management LLC boosted its position in Safehold by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock worth $32,734,000 after purchasing an additional 38,074 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Safehold by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company’s stock worth $13,251,000 after purchasing an additional 29,348 shares during the period. JPMorgan Chase & Co. increased its stake in shares of Safehold by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company’s stock worth $17,369,000 after purchasing an additional 91,965 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Safehold by 1.7% in the fourth quarter. Bank of New York Mellon Corp now owns 435,784 shares of the company’s stock valued at $8,053,000 after purchasing an additional 7,437 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.