Safehold (NYSE:SAFE) Price Target Increased to $25.00 by Analysts at Wedbush

Safehold (NYSE:SAFE) had its price objective boosted by equities researchers at Wedbush from $20.00 to $25.00 in a report issued on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price target would suggest a potential upside of 8.18% from the stock’s current price.

A number of other research firms have also weighed in on SAFE. JMP Securities restated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a report on Thursday, May 16th. Mizuho downgraded Safehold from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $22.00 to $20.00 in a research note on Friday, May 10th. The Goldman Sachs Group lifted their target price on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Royal Bank of Canada decreased their price target on Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.89.

Safehold Trading Down 0.3 %

Shares of SAFE stock traded down $0.06 during mid-day trading on Wednesday, hitting $23.11. The company’s stock had a trading volume of 53,388 shares, compared to its average volume of 338,125. Safehold has a 52 week low of $15.00 and a 52 week high of $25.02. The company has a debt-to-equity ratio of 1.78, a quick ratio of 42.51 and a current ratio of 42.51. The company’s fifty day simple moving average is $19.81 and its 200-day simple moving average is $19.97. The company has a market cap of $1.65 billion, a PE ratio of -51.36 and a beta of 1.65.

Safehold (NYSE:SAFE) last released its earnings results on Monday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.68%. The company had revenue of $89.90 million for the quarter, compared to the consensus estimate of $87.28 million. During the same quarter in the previous year, the company earned $0.35 EPS. Safehold’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities research analysts expect that Safehold will post 1.57 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Safehold by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after buying an additional 141,245 shares in the last quarter. UBS Group AG grew its position in shares of Safehold by 1,002.8% in the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock worth $51,625,000 after buying an additional 2,006,133 shares during the period. Aew Capital Management L P purchased a new stake in shares of Safehold in the 4th quarter worth about $25,605,000. Mesirow Institutional Investment Management Inc. grew its position in Safehold by 33.5% during the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 664,542 shares of the company’s stock valued at $15,550,000 after purchasing an additional 166,846 shares during the last quarter. Finally, Sei Investments Co. grew its position in Safehold by 62.4% during the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after purchasing an additional 249,500 shares during the last quarter. Institutional investors own 70.38% of the company’s stock.

About Safehold

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.