Analysts Set Safehold Inc. (NYSE:SAFE) Target Price at $85.21

Safehold Inc. (NYSE:SAFE) has earned an average recommendation of “Buy” from the six research firms that are covering the firm, MarketBeat.com reports. Three equities research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $85.21.

A number of analysts recently commented on SAFE shares. Truist upped their price target on shares of Safehold from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, July 30th. Truist Securities upped their price target on shares of Safehold from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Saturday, July 31st. B. Riley restated a “buy” rating and set a $86.07 price target (down from $100.00) on shares of Safehold in a research note on Tuesday, July 27th. Finally, Zacks Investment Research upgraded shares of Safehold from a “sell” rating to a “hold” rating in a research note on Thursday.

In related news, Director Dean S. Adler sold 13,100 shares of the stock in a transaction on Thursday, August 12th. The shares were sold at an average price of $90.64, for a total transaction of $1,187,384.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Dean S. Adler sold 27,700 shares of the firm’s stock in a transaction on Tuesday, August 10th. The stock was sold at an average price of $90.42, for a total transaction of $2,504,634.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 163,400 shares of company stock worth $14,621,046. 1.34% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of SAFE. NewEdge Wealth LLC purchased a new stake in shares of Safehold in the 2nd quarter worth about $39,345,000. Price T Rowe Associates Inc. MD lifted its position in shares of Safehold by 35.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 892,404 shares of the company’s stock worth $70,054,000 after purchasing an additional 234,517 shares during the period. Alliancebernstein L.P. lifted its position in shares of Safehold by 29.8% in the 1st quarter. Alliancebernstein L.P. now owns 851,266 shares of the company’s stock worth $59,674,000 after purchasing an additional 195,376 shares during the period. Vanguard Group Inc. lifted its position in Safehold by 7.6% during the 2nd quarter. Vanguard Group Inc. now owns 2,527,374 shares of the company’s stock valued at $198,399,000 after acquiring an additional 178,443 shares during the period. Finally, B&I Capital AG purchased a new position in Safehold during the 1st quarter valued at about $11,929,000. 25.61% of the stock is owned by hedge funds and other institutional investors.

NYSE:SAFE traded down $3.22 during mid-day trading on Friday, reaching $76.46. The stock had a trading volume of 435,378 shares, compared to its average volume of 123,890. Safehold has a 12 month low of $54.26 and a 12 month high of $95.29. The stock has a 50-day simple moving average of $86.44 and a two-hundred day simple moving average of $77.96. The stock has a market capitalization of $4.08 billion, a PE ratio of 65.35 and a beta of -0.47.

Safehold (NYSE:SAFE) last released its earnings results on Thursday, July 22nd. The company reported $0.28 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.33 by ($0.05). Safehold had a net margin of 36.87% and a return on equity of 4.48%. The company had revenue of $44.21 million for the quarter, compared to the consensus estimate of $45.25 million. Sell-side analysts expect that Safehold will post 1.31 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, October 15th. Stockholders of record on Thursday, September 30th will be given a dividend of $0.17 per share. This represents a $0.68 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend is Wednesday, September 29th. Safehold’s dividend payout ratio (DPR) is currently 58.12%.

About Safehold

Safehold Inc operates as a real estate investment trust, which focuses on acquiring, owning, managing and capitalizing ground leases. It seeks to provide safe & growing income, as well as capital appreciation to shareholders by building a diversified portfolio of ground leases. The firm’s property is generally leased on a triple net basis with the tenant responsible for taxes, maintenance and insurance, as well as all operating costs and capital expenditures.

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Analyst Recommendations for Safehold (NYSE:SAFE)

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