Safehold's (SAFE) "Market Perform" Rating Reiterated at Citizens Jmp

Key Points

• Citizens JMP reiterated its “Market Perform” rating on Safehold, while the broader analyst consensus remains “Hold” with a $15.17 price target.
• Safehold shares opened at $12.01, near their 12-month low of $11.60 and below both the 50-day and 200-day moving averages. The company recently met quarterly EPS expectations at $0.42 and exceeded revenue estimates.
• Institutional investors own approximately 70.38% of Safehold, with several firms increasing their positions, while director Robin Josephs recently sold 9,500 shares.

Safehold (NYSE:SAFE - Get Free Report)'s stock had its "market perform" rating reissued by research analysts at Citizens Jmp in a note issued to investors on Wednesday, Marketbeat.com reports.

Other equities research analysts have also recently issued research reports about the stock. Weiss Ratings cut shares of Safehold from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. cut shares of Safehold from a "neutral" rating to an "underweight" rating and set a $14.00 target price on the stock. in a report on Thursday, September 24th. Cantor Fitzgerald reiterated a "neutral" rating on shares of Safehold in a research note on Tuesday, August 4th. Truist Financial dropped their price target on shares of Safehold from $17.00 to $13.00 and set a "hold" rating on the stock in a research note on Monday, September 28th. Finally, Zacks Research upgraded shares of Safehold from a "strong sell" rating to a "hold" rating in a research note on Tuesday, July 21st. Two investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $15.17.

Safehold Trading Down 0.5%

Shares of SAFE stock opened at $12.01 on Wednesday. Safehold has a 12-month low of $11.60 and a 12-month high of $17.45. The company has a current ratio of 34.37, a quick ratio of 34.36 and a debt-to-equity ratio of 1.77. The firm's 50 day moving average is $14.08 and its 200 day moving average is $14.94. The stock has a market capitalization of $850.19 million, a P/E ratio of 7.41, a P/E/G ratio of 3.60 and a beta of 1.78.

Safehold (NYSE:SAFE - Get Free Report) last issued its earnings results on Thursday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Safehold had a net margin of 27.70% and a return on equity of 4.76%. The company had revenue of $114.65 million for the quarter, compared to analysts' expectations of $110.78 million. Research analysts expect that Safehold will post 1.64 earnings per share for the current year.

Insider Buying and Selling at Safehold

In other news, Director Robin Josephs sold 9,500 shares of Safehold stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total transaction of $138,320.00. Following the transaction, the director owned 89,068 shares in the company, valued at $1,296,830.08. This trade represents a 9.64% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 3.80% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. CoreCap Advisors LLC grew its holdings in Safehold by 20.7% during the 3rd quarter. CoreCap Advisors LLC now owns 7,530 shares of the company's stock valued at $89,000 after purchasing an additional 1,290 shares during the last quarter. Resona Asset Management Co. Ltd. grew its holdings in Safehold by 7.6% during the 1st quarter. Resona Asset Management Co. Ltd. now owns 20,551 shares of the company's stock valued at $280,000 after purchasing an additional 1,454 shares during the last quarter. PNC Financial Services Group Inc. grew its holdings in Safehold by 32.0% during the 1st quarter. PNC Financial Services Group Inc. now owns 6,094 shares of the company's stock valued at $82,000 after purchasing an additional 1,478 shares during the last quarter. Breakwater Capital Group grew its holdings in Safehold by 13.4% during the 2nd quarter. Breakwater Capital Group now owns 15,054 shares of the company's stock valued at $236,000 after purchasing an additional 1,775 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC grew its holdings in Safehold by 5.8% during the 4th quarter. Infrastructure Capital Advisors LLC now owns 46,783 shares of the company's stock valued at $640,000 after purchasing an additional 2,550 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 a real estate investment trust focused on owning ground leases. Through its ground-lease model, the company acquires and owns the land beneath commercial, residential, and other real estate assets while leasing that land to property owners under long-term agreements. This structure allows building owners to access the value of the land without selling the underlying property.

Safehold's portfolio has included ground leases supporting multifamily, office, hotel, life sciences, industrial, and other commercial properties.