Sumitomo Mitsui Financial Group cut shares of Safehold (NYSE:SAFE – Get Rating) from an outperform rating to a neutral rating in a research note released on Friday morning, MarketBeat Ratings reports. Sumitomo Mitsui Financial Group currently has $33.00 price objective on the stock.
Other analysts have also recently issued reports about the stock. Mizuho raised shares of Safehold from a neutral rating to a buy rating and reduced their price objective for the stock from $75.00 to $50.00 in a research note on Friday, August 12th. Morgan Stanley reduced their price objective on shares of Safehold from $100.00 to $85.00 and set an overweight rating for the company in a research note on Friday, July 15th. One analyst has rated the stock with a hold rating and two have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of Moderate Buy and an average price target of $57.67.
Get Safehold alerts:Safehold Price Performance
Shares of NYSE SAFE opened at $27.27 on Friday. The firm has a fifty day moving average price of $39.93 and a 200-day moving average price of $43.19. The stock has a market cap of $1.70 billion, a PE ratio of 17.48 and a beta of 0.35. Safehold has a 1 year low of $27.26 and a 1 year high of $80.66.
Safehold (NYSE:SAFE – Get Rating) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.40 by ($0.03). The firm had revenue of $64.88 million during the quarter, compared to analysts' expectations of $64.93 million. Safehold had a return on equity of 4.81% and a net margin of 39.65%. On average, research analysts expect that Safehold will post 1.62 EPS for the current year.Safehold Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, October 14th. Investors of record on Friday, September 30th will be paid a dividend of $0.177 per share. The ex-dividend date is Thursday, September 29th. This represents a $0.71 annualized dividend and a yield of 2.60%. Safehold's payout ratio is 45.51%.
Hedge Funds Weigh In On Safehold
Several institutional investors have recently bought and sold shares of SAFE. FMR LLC grew its stake in Safehold by 17.8% during the second quarter. FMR LLC now owns 1,643 shares of the company's stock valued at $58,000 after acquiring an additional 248 shares in the last quarter. First Manhattan Co. bought a new position in Safehold during the first quarter valued at $81,000. Mutual of America Capital Management LLC lifted its position in Safehold by 27.6% during the second quarter. Mutual of America Capital Management LLC now owns 2,600 shares of the company's stock valued at $92,000 after purchasing an additional 563 shares during the last quarter. Schroder Investment Management Group lifted its position in Safehold by 46.3% during the fourth quarter. Schroder Investment Management Group now owns 1,230 shares of the company's stock valued at $98,000 after purchasing an additional 389 shares during the last quarter. Finally, Van ECK Associates Corp lifted its position in Safehold by 15.1% during the first quarter. Van ECK Associates Corp now owns 1,861 shares of the company's stock valued at $103,000 after purchasing an additional 244 shares during the last quarter. 25.61% of the stock is owned by hedge funds and other institutional investors.
Safehold Company Profile
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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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.
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