Safehold Inc. (NYSE:SAFE) Stock Has Average Target Price of $14.17

Safehold Inc. (NYSE:SAFE) has received a consensus recommendation of “Hold” from the thirteen ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, ten have given a hold rating and two have assigned a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $14.17.

Several analysts have commented on SAFE shares. Weiss Ratings cut shares of Safehold from a “hold (c)” rating to a “hold (c-)” rating in a research note on Tuesday, October 6th. Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Mizuho decreased their price objective on Safehold from $16.00 to $14.00 and set a “neutral” rating on the stock in a report on Thursday, September 17th. Truist Financial lowered their price objective on Safehold from $17.00 to $13.00 and set a “hold” rating for the company in a research report on Monday, September 28th. Finally, Zacks Research raised Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st.

Insider Buying and Selling at Safehold

In related news, Director Robin Josephs sold 9,500 shares of Safehold stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $14.56, for a total value of $138,320.00. Following the transaction, the director owned 89,068 shares in the company, valued at approximately $1,296,830.08. This trade represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Safehold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. NewEdge Wealth LLC purchased a new position in shares of Safehold in the 2nd quarter worth about $10,529,000. Bank of America Corp DE acquired a new position in shares of Safehold in the 2nd quarter valued at about $5,153,000. Denali Advisors LLC acquired a new position in shares of Safehold in the 2nd quarter valued at about $4,861,000. Legal & General Group Plc purchased a new stake in shares of Safehold during the 2nd quarter worth about $4,603,000. Finally, BlackRock Inc. grew its holdings in shares of Safehold by 2.1% during the 2nd quarter. BlackRock Inc. now owns 9,938,575 shares of the company’s stock worth $156,036,000 after purchasing an additional 200,628 shares during the period. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Trading Down 0.4%

Shares of Safehold stock opened at $11.30 on Friday. The company has a 50-day moving average of $12.98 and a two-hundred day moving average of $14.71. Safehold has a 12-month low of $10.61 and a 12-month high of $17.45. The company has a current ratio of 34.37, a quick ratio of 34.36 and a debt-to-equity ratio of 1.77. The stock has a market cap of $800.27 million, a PE ratio of 6.98, a price-to-earnings-growth ratio of 3.38 and a beta of 1.78.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.42. Safehold had a net margin of 27.70% and a return on equity of 4.76%. The company had revenue of $114.65 million for the quarter, compared to the consensus estimate of $110.78 million. On average, research analysts anticipate that Safehold will post 1.64 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, October 15th. Investors of record on Wednesday, September 30th were given a $0.1770 dividend. This represents a $0.71 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend was Wednesday, September 30th. Safehold’s dividend payout ratio (DPR) is 43.83%.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust that owns and manages ground leases for commercial, multifamily, and other income-producing properties. Under a ground lease, Safehold owns the land beneath a building while the property owner leases the land for a long term and retains ownership of the improvements on it.

The company’s business model is designed to provide property owners with access to capital while allowing them to maintain control of their buildings. Safehold’s ground lease investments are generally structured as long-duration leases that can support the development, acquisition, refinancing, or recapitalization of real estate assets.