Royal Bank of Canada Increases Safehold (NYSE:SAFE) Price Target to $31.00

Safehold (NYSE:SAFE - Free Report) had its price target boosted by Royal Bank of Canada from $30.00 to $31.00 in a research note released on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the stock.

Several other equities analysts also recently weighed in on SAFE. The Goldman Sachs Group lifted 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. JMP Securities reiterated a "market outperform" rating and issued a $35.00 target price on shares of Safehold in a research note on Tuesday. Raymond James upgraded shares of Safehold from a "market perform" rating to an "outperform" rating and set a $34.00 target price for the company in a research note on Thursday, September 19th. Wedbush boosted their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Wednesday, July 31st. Finally, Truist Financial boosted their price objective on shares of Safehold from $21.00 to $22.00 and gave the company a "hold" rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.78.

Safehold Stock Down 1.4 %

Shares of SAFE traded down $0.31 during trading hours on Wednesday, reaching $22.17. 521,054 shares of the stock traded hands, compared to its average volume of 342,837. The company has a current ratio of 38.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.76. The stock has a fifty day simple moving average of $25.16 and a 200 day simple moving average of $21.94. Safehold has a 52 week low of $15.35 and a 52 week high of $28.80. The company has a market cap of $1.58 billion, a price-to-earnings ratio of -49.27 and a beta of 1.66.

Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting analysts' consensus estimates of $0.37. The company had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The firm's revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. On average, equities analysts forecast that Safehold will post 1.59 EPS for the current year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.177 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.19%. Safehold's payout ratio is -155.56%.

Institutional Investors Weigh In On Safehold

A number of hedge funds have recently made changes to their positions in SAFE. PNC Financial Services Group Inc. lifted its holdings in shares of Safehold by 65.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company's stock worth $175,000 after acquiring an additional 2,965 shares during the last quarter. Daiwa Securities Group Inc. raised its holdings in Safehold by 7.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company's stock valued at $298,000 after buying an additional 949 shares during the last quarter. SG Americas Securities LLC bought a new stake in Safehold during the 1st quarter valued at $1,979,000. Illinois Municipal Retirement Fund raised its holdings in Safehold by 4.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company's stock valued at $529,000 after buying an additional 1,156 shares during the last quarter. Finally, Sei Investments Co. raised its holdings in Safehold by 62.4% during the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company's stock valued at $13,381,000 after buying an additional 249,500 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors.

About Safehold

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.