Safehold (NYSE:SAFE) Given New $17.00 Price Target at Royal Bank Of Canada

Safehold (NYSE:SAFE) had its target price dropped by equities researchers at Royal Bank Of Canada from $20.00 to $17.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s price objective suggests a potential upside of 24.54% from the stock’s current price.

Several other research analysts have also recently issued reports on SAFE. Cantor Fitzgerald set a $17.00 price target on Safehold and gave the stock a “neutral” rating in a research note on Wednesday, October 1st. JMP Securities reduced their target price on Safehold from $32.00 to $28.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Safehold in a research note on Wednesday, October 8th. Mizuho lifted their price objective on shares of Safehold from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, September 11th. Finally, Truist Financial reduced their price target on shares of Safehold from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, Safehold presently has a consensus rating of “Hold” and a consensus target price of $19.56.

Safehold Price Performance

Safehold stock traded down $0.73 during midday trading on Thursday, reaching $13.65. 74,560 shares of the company were exchanged, compared to its average volume of 418,636. The company has a market capitalization of $979.47 million, a price-to-earnings ratio of 9.58, a P/E/G ratio of 1.31 and a beta of 1.87. The firm’s 50-day simple moving average is $15.64 and its 200-day simple moving average is $15.37. Safehold has a 1 year low of $13.43 and a 1 year high of $21.90. The company has a debt-to-equity ratio of 1.85, a quick ratio of 36.02 and a current ratio of 36.02.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Tuesday, May 3rd. The company reported $0.30 EPS for the quarter. The firm had revenue of $50.20 million during the quarter. Safehold had a return on equity of 4.70% and a net margin of 27.45%. On average, analysts anticipate that Safehold will post 1.58 EPS for the current year.

Hedge Funds Weigh In On Safehold

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Safehold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company’s stock worth $146,352,000 after purchasing an additional 93,236 shares during the period. T. Rowe Price Investment Management Inc. lifted its holdings in Safehold by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,305,041 shares of the company’s stock valued at $80,591,000 after purchasing an additional 38,272 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Safehold by 5.2% in the 2nd quarter. Geode Capital Management LLC now owns 1,341,663 shares of the company’s stock valued at $20,878,000 after purchasing an additional 65,941 shares in the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Safehold by 19.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,131,494 shares of the company’s stock worth $17,606,000 after acquiring an additional 182,006 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Safehold by 4.6% during the 2nd quarter. Invesco Ltd. now owns 619,951 shares of the company’s stock worth $9,646,000 after acquiring an additional 27,395 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

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.