Safehold (NYSE:SAFE – Free Report) had its price objective lowered by The Goldman Sachs Group from $27.00 to $23.00 in a report published on Friday morning,Benzinga reports. The brokerage currently has a buy rating on the stock.
Several other equities analysts have also commented on the stock. Zacks Research lowered shares of Safehold from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, March 25th. Mizuho increased their price target on shares of Safehold from $15.00 to $16.00 and gave the company a “neutral” rating in a research note on Wednesday, March 11th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Safehold in a research note on Tuesday, April 21st. Royal Bank Of Canada lowered shares of Safehold from a “market outperform” rating to a “sector perform” rating and lowered their target price for the stock from $18.00 to $16.00 in a research report on Friday, May 1st. Finally, Morgan Stanley lowered shares of Safehold from an “equal weight” rating to an “underweight” rating and lowered their target price for the stock from $16.00 to $14.00 in a research report on Thursday, January 22nd. Three equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.75.
View Our Latest Research Report on Safehold
Safehold Stock Down 3.0%
Safehold (NYSE:SAFE – Get Free Report) last issued its earnings results on Thursday, April 30th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $110.85 million during the quarter, compared to analyst estimates of $96.51 million. Safehold had a net margin of 28.58% and a return on equity of 4.78%. Analysts forecast that Safehold will post 1.69 earnings per share for the current fiscal year.
Safehold Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were issued a $0.177 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.71 dividend on an annualized basis and a yield of 5.0%. Safehold’s dividend payout ratio (DPR) is 44.65%.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in SAFE. Addison Capital Co increased its holdings in shares of Safehold by 30.2% in the 4th quarter. Addison Capital Co now owns 179,465 shares of the company’s stock valued at $2,457,000 after acquiring an additional 41,600 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Safehold by 24.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,411,158 shares of the company’s stock valued at $21,859,000 after acquiring an additional 279,664 shares during the last quarter. Thrivent Financial for Lutherans increased its holdings in shares of Safehold by 92.8% in the 3rd quarter. Thrivent Financial for Lutherans now owns 163,504 shares of the company’s stock valued at $2,533,000 after acquiring an additional 78,686 shares during the last quarter. Gabelli Funds LLC bought a new stake in shares of Safehold in the 3rd quarter valued at approximately $3,343,000. Finally, Algert Global LLC increased its holdings in shares of Safehold by 137.4% in the 3rd quarter. Algert Global LLC now owns 486,386 shares of the company’s stock valued at $7,534,000 after acquiring an additional 281,478 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.
About Safehold
Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.
Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.
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