Mizuho Forecasts Strong Price Appreciation for Safehold (NYSE:SAFE) Stock

Safehold (NYSE:SAFE) had its price objective boosted by equities researchers at Mizuho from $20.00 to $25.00 in a report issued on Thursday, Benzinga reports. The firm presently has a “neutral” rating on the stock. Mizuho’s price objective points to a potential upside of 15.15% from the company’s previous close.

SAFE has been the topic of a number of other research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research note on Tuesday. Wedbush increased their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Thursday, September 19th. Royal Bank of Canada increased their price objective on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday. Finally, The Goldman Sachs Group lifted their target price on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, Safehold currently has a consensus rating of “Moderate Buy” and a consensus price target of $29.33.

Safehold Trading Down 2.1 %

NYSE SAFE traded down $0.46 during trading on Thursday, reaching $21.71. 67,130 shares of the stock traded hands, compared to its average volume of 341,470. The stock’s 50-day moving average price is $25.16 and its 200 day moving average price is $21.94. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76. The firm has a market cap of $1.55 billion, a price-to-earnings ratio of -48.73 and a beta of 1.66. Safehold has a fifty-two week low of $15.35 and a fifty-two week high of $28.80.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The business had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. During the same quarter last year, the business posted $0.33 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Analysts predict that Safehold will post 1.59 EPS for the current year.

Institutional Investors Weigh In On Safehold

Hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its position in Safehold by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after buying an additional 471 shares during the last quarter. ProShare Advisors LLC increased its holdings in shares of Safehold by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after acquiring an additional 676 shares during the last quarter. GAMMA Investing LLC raised its stake in Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after acquiring an additional 920 shares during the period. Daiwa Securities Group Inc. raised its stake in Safehold by 7.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock valued at $298,000 after acquiring an additional 949 shares during the period. Finally, Illinois Municipal Retirement Fund lifted its holdings in Safehold by 4.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company’s stock valued at $529,000 after purchasing an additional 1,156 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

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.