JPMorgan Chase & Co. Cuts Safehold (NYSE:SAFE) Price Target to $19.00

Safehold (NYSE:SAFE) had its price target decreased by JPMorgan Chase & Co. from $20.00 to $19.00 in a report issued on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Other analysts have also recently issued reports about the stock. JMP Securities restated a “market outperform” rating and issued a $32.00 price target on shares of Safehold in a report on Thursday, June 26th. Morgan Stanley lowered their target price on shares of Safehold from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 29th. Royal Bank Of Canada decreased their price objective on shares of Safehold from $21.00 to $20.00 and set an “outperform” rating for the company in a research note on Monday, May 19th. Truist Financial decreased their price objective on shares of Safehold from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, May 19th. Finally, Wedbush reaffirmed a “neutral” rating and set a $20.00 target price on shares of Safehold in a report on Monday, March 31st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $22.33.

Safehold Trading Up 0.8%

NYSE SAFE opened at $15.47 on Wednesday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 37.17 and a current ratio of 37.17. The company has a market capitalization of $1.11 billion, a price-to-earnings ratio of 10.60, a price-to-earnings-growth ratio of 1.50 and a beta of 1.79. The company’s 50-day simple moving average is $15.40 and its two-hundred day simple moving average is $16.56. Safehold has a one year low of $13.68 and a one year high of $28.80.

Safehold (NYSE:SAFE) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $97.68 million for the quarter, compared to the consensus estimate of $95.55 million. Safehold had a net margin of 28.20% and a return on equity of 4.76%. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the firm posted $0.43 EPS. Equities analysts forecast that Safehold will post 1.58 EPS for the current fiscal year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.58%. The ex-dividend date of this dividend is Monday, June 30th. Safehold’s dividend payout ratio is currently 48.63%.

Institutional Investors Weigh In On Safehold

A number of hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its holdings in shares of Safehold by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company’s stock valued at $8,120,000 after purchasing an additional 15,280 shares during the period. Strs Ohio purchased a new stake in shares of Safehold in the first quarter valued at about $555,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Safehold by 2.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 346,067 shares of the company’s stock valued at $6,478,000 after purchasing an additional 8,348 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Safehold by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company’s stock valued at $576,000 after purchasing an additional 1,308 shares during the period. Finally, AQR Capital Management LLC grew its holdings in shares of Safehold by 1,106.2% in the first quarter. AQR Capital Management LLC now owns 195,530 shares of the company’s stock valued at $3,660,000 after purchasing an additional 179,319 shares during the period. Hedge funds and other 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.