Safehold (NYSE:SAFE) Price Target Cut to $21.00 by Analysts at JPMorgan Chase & Co.

Safehold (NYSE:SAFE) had its price target lowered by JPMorgan Chase & Co. from $23.00 to $21.00 in a research report report published on Wednesday, Benzinga reports. The brokerage currently has a neutral rating on the stock.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada dropped their price objective on shares of Safehold from $33.00 to $32.00 and set an outperform rating on the stock in a report on Thursday, February 15th. Jefferies Financial Group initiated coverage on shares of Safehold in a research note on Thursday, January 4th. They set a buy rating and a $33.00 target price on the stock. JMP Securities initiated coverage on shares of Safehold in a research note on Tuesday, January 23rd. They set an outperform rating and a $35.00 target price on the stock. The Goldman Sachs Group raised their target price on shares of Safehold from $25.00 to $29.00 and gave the company a buy rating in a research note on Thursday, January 11th. Finally, Mizuho lowered their target price on shares of Safehold from $25.00 to $22.00 and set a buy rating on the stock in a research note on Thursday, March 7th. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of Moderate Buy and an average price target of $28.40.

Safehold Stock Up 0.9 %

SAFE stock opened at $18.26 on Wednesday. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78. Safehold has a fifty-two week low of $15.00 and a fifty-two week high of $30.00. The firm’s 50-day simple moving average is $20.17 and its 200 day simple moving average is $19.84. The stock has a market cap of $1.30 billion, a PE ratio of -22.54 and a beta of 1.46.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Monday, February 12th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The business had revenue of $103.00 million for the quarter, compared to analysts’ expectations of $84.89 million. During the same quarter last year, the company earned ($6.00) EPS. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, sell-side analysts predict that Safehold will post 1.52 EPS for the current year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were given a dividend of $0.177 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.71 annualized dividend and a dividend yield of 3.88%. Safehold’s dividend payout ratio (DPR) is -87.65%.

Hedge Funds Weigh In On Safehold

Several large investors have recently made changes to their positions in SAFE. Advisor Group Holdings Inc. lifted its holdings in shares of Safehold by 15.2% in the first quarter. Advisor Group Holdings Inc. now owns 7,262 shares of the company’s stock valued at $403,000 after purchasing an additional 956 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Safehold by 0.8% in the 1st quarter. Bank of New York Mellon Corp now owns 187,299 shares of the company’s stock worth $10,385,000 after acquiring an additional 1,511 shares in the last quarter. Bank of Montreal Can boosted its position in Safehold by 28.0% during the 1st quarter. Bank of Montreal Can now owns 5,548 shares of the company’s stock worth $318,000 after acquiring an additional 1,212 shares during the period. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in Safehold during the 1st quarter valued at about $1,099,000. Finally, MetLife Investment Management LLC increased its holdings in shares of Safehold by 55.4% in the 1st quarter. MetLife Investment Management LLC now owns 11,119 shares of the company’s stock valued at $617,000 after purchasing an additional 3,965 shares during the period. Institutional investors own 70.38% of the company’s stock.

Safehold Company Profile

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.