Safehold (NYSE:SAFE) Price Target Cut to $21.00

Safehold (NYSE:SAFE) had its price target dropped by stock analysts at JPMorgan Chase & Co. from $23.00 to $21.00 in a research report issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 13.27% from the stock’s previous close.

SAFE has been the topic of several other reports. The Goldman Sachs Group boosted their price target on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Jefferies Financial Group began coverage on shares of Safehold in a report on Thursday, January 4th. They issued a “buy” rating and a $33.00 target price on the stock. JMP Securities began coverage on shares of Safehold in a report on Tuesday, January 23rd. They issued an “outperform” rating and a $35.00 target price on the stock. Royal Bank of Canada dropped their target price 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. Finally, Mizuho dropped their target price on shares of Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $28.40.

Safehold Trading Up 1.5 %

Shares of NYSE:SAFE opened at $18.54 on Wednesday. The company’s 50-day moving average price is $20.13 and its two-hundred day moving average price is $19.83. The company has a debt-to-equity ratio of 1.78, a current ratio of 36.61 and a quick ratio of 36.61. Safehold has a one year low of $15.00 and a one year high of $30.00. The stock has a market capitalization of $1.32 billion, a PE ratio of -22.89 and a beta of 1.46.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, February 12th. The company reported $0.36 EPS for the quarter, topping the consensus estimate 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 firm had revenue of $103.00 million for the quarter, compared to analysts’ expectations of $84.89 million. During the same period in the previous year, the firm posted ($6.00) EPS. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. On average, equities analysts forecast that Safehold will post 1.52 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in Safehold by 11.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock valued at $137,234,000 after acquiring an additional 816,033 shares during the period. BlackRock Inc. raised its holdings in Safehold by 51.4% in the 1st quarter. BlackRock Inc. now owns 7,325,064 shares of the company’s stock valued at $211,511,000 after acquiring an additional 2,487,183 shares during the period. T. Rowe Price Investment Management Inc. grew its position in shares of Safehold by 24.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,241,562 shares of the company’s stock worth $64,154,000 after purchasing an additional 443,049 shares in the last quarter. UBS Group AG grew its position in shares of Safehold by 1,002.8% during the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock worth $51,625,000 after purchasing an additional 2,006,133 shares in the last quarter. Finally, State Street Corp grew its position in shares of Safehold by 43.9% during the 1st quarter. State Street Corp now owns 2,114,552 shares of the company’s stock worth $62,104,000 after purchasing an additional 645,322 shares in the last quarter. 70.38% of the stock is owned by institutional investors.

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.