Safehold (NYSE:SAFE) PT Lowered to $29.00

Safehold (NYSE:SAFE) had its target price lowered by analysts at Royal Bank of Canada from $32.00 to $29.00 in a note issued to investors on Wednesday, Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s price target would suggest a potential upside of 45.51% from the company’s previous close.

Several other research analysts have also commented on the company. Mizuho reduced their price target on Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. JPMorgan Chase & Co. reduced their price objective on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. JMP Securities restated a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a report on Tuesday. Finally, The Goldman Sachs Group boosted their price objective on shares of Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $27.44.

Safehold Stock Up 3.4 %

NYSE SAFE opened at $19.93 on Wednesday. Safehold has a 52 week low of $15.00 and a 52 week high of $29.11. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78. The business’s fifty day simple moving average is $19.68 and its 200-day simple moving average is $20.09. The firm has a market cap of $1.42 billion, a PE ratio of -44.29 and a beta of 1.48.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.43 EPS for the quarter, topping the consensus estimate of $0.39 by $0.04. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The business had revenue of $93.20 million for the quarter, compared to analyst estimates of $88.20 million. During the same quarter in the previous year, the firm earned $0.41 EPS. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, equities analysts anticipate that Safehold will post 1.53 earnings per share for the current year.

Institutional Trading of Safehold

A number of institutional investors and hedge funds have recently bought and sold shares of SAFE. State Board of Administration of Florida Retirement System grew its position in shares of Safehold by 104.5% during the first quarter. State Board of Administration of Florida Retirement System now owns 25,867 shares of the company’s stock worth $533,000 after buying an additional 13,221 shares in the last quarter. ProShare Advisors LLC grew its position in shares of Safehold by 7.5% during the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after buying an additional 676 shares in the last quarter. Russell Investments Group Ltd. grew its position in shares of Safehold by 6.0% during the first quarter. Russell Investments Group Ltd. now owns 190,667 shares of the company’s stock worth $3,928,000 after buying an additional 10,787 shares in the last quarter. Sei Investments Co. grew its position in shares of Safehold by 62.4% during the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after buying an additional 249,500 shares in the last quarter. Finally, Illinois Municipal Retirement Fund grew its position in shares of Safehold by 4.7% during the first quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company’s stock worth $529,000 after buying an additional 1,156 shares in the last quarter. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

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.