Safehold (NYSE:SAFE) Price Target Lowered to $18.00 at Truist Financial

Safehold (NYSE:SAFE) had its target price reduced by analysts at Truist Financial from $20.00 to $18.00 in a research report issued on Monday,Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential upside of 15.94% from the company’s previous close.

A number of other brokerages also recently commented on SAFE. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research note on Thursday, February 6th. Mizuho cut their target price on shares of Safehold from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. The Goldman Sachs Group reduced their price target on Safehold from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Wedbush restated a “neutral” rating and issued a $20.00 price objective on shares of Safehold in a report on Monday, March 31st. Finally, Morgan Stanley cut their price objective on shares of Safehold from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 29th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $24.88.

Safehold Stock Performance

Shares of NYSE:SAFE traded down $0.14 during trading on Monday, hitting $15.53. The stock had a trading volume of 10,991 shares, compared to its average volume of 400,548. The stock has a 50-day simple moving average of $16.48 and a two-hundred day simple moving average of $17.93. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 10.45 and a beta of 1.86. Safehold has a 12-month low of $13.68 and a 12-month high of $28.80. The company has a quick ratio of 36.59, a current ratio of 36.59 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.43 by $0.01. Safehold had a net margin of 28.92% and a return on equity of 4.76%. The business had revenue of $97.68 million for the quarter, compared to the consensus estimate of $95.55 million. During the same period last year, the firm posted $0.43 earnings per share. The company’s revenue was up 4.8% compared to the same quarter last year. On average, equities research analysts expect that Safehold will post 1.58 earnings per share for the current fiscal year.

Institutional Trading of Safehold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAFE. Smartleaf Asset Management LLC increased its position in Safehold by 268.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock worth $26,000 after purchasing an additional 1,020 shares in the last quarter. US Bancorp DE increased its holdings in Safehold by 136.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the company’s stock valued at $41,000 after buying an additional 1,278 shares during the last quarter. Versant Capital Management Inc boosted its stake in Safehold by 73.9% in the first quarter. Versant Capital Management Inc now owns 2,377 shares of the company’s stock valued at $44,000 after acquiring an additional 1,010 shares during the period. Tower Research Capital LLC TRC lifted its stake in Safehold by 23.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock valued at $83,000 after buying an additional 849 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Safehold by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company’s stock worth $156,000 after purchasing an additional 1,173 shares during the last quarter. Hedge funds and other 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.