The Goldman Sachs Group Lowers Safehold (NYSE:SAFE) Price Target to $30.00

Safehold (NYSE:SAFE - Free Report) had its price objective lowered by The Goldman Sachs Group from $38.00 to $30.00 in a research note released on Friday, Benzinga reports. The brokerage currently has a buy rating on the stock.

A number of other equities analysts have also weighed in on the stock. Truist Financial increased their target price on shares of Safehold from $21.00 to $22.00 and gave the stock a "hold" rating in a research report on Monday, August 5th. Wedbush boosted their target price on Safehold from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 31st. Mizuho upped their target price on Safehold from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday. JMP Securities reissued a "market outperform" rating and set a $35.00 price objective on shares of Safehold in a report on Tuesday. Finally, Royal Bank of Canada raised their price objective on shares of Safehold from $30.00 to $31.00 and gave the company an "outperform" rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $28.44.

Safehold Stock Down 2.7 %

Shares of NYSE SAFE traded down $0.58 during trading on Friday, hitting $20.70. The stock had a trading volume of 490,320 shares, compared to its average volume of 345,251. The firm has a fifty day moving average of $25.07 and a two-hundred day moving average of $21.94. The company has a market capitalization of $1.48 billion, a PE ratio of 12.18 and a beta of 1.66. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 38.83. Safehold has a 12 month low of $16.14 and a 12 month high of $28.80.

Safehold (NYSE:SAFE - Get Free Report) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.37. The business had revenue of $90.70 million during the quarter, compared to the consensus estimate of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm's quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.33 EPS. As a group, equities research analysts forecast that Safehold will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, September 30th. Safehold's dividend payout ratio (DPR) is 41.18%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. GAMMA Investing LLC raised its holdings in Safehold by 108.7% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $46,000 after purchasing an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Safehold by 35.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company's stock valued at $47,000 after purchasing an additional 471 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Safehold by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company's stock worth $200,000 after purchasing an additional 676 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Safehold during the second quarter valued at $204,000. Finally, Quest Partners LLC bought a new stake in Safehold in the 2nd quarter worth about $225,000. 70.38% of the stock is owned by hedge funds and other 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.