Safehold (NYSE:SAFE) PT Lowered to $21.00 at JPMorgan Chase & Co.

Safehold (NYSE:SAFE - Get Free Report) had its target price decreased by research analysts at JPMorgan Chase & Co. from $23.00 to $21.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has a "neutral" rating on the stock. JPMorgan Chase & Co.'s price target suggests a potential upside of 15.01% from the stock's current price.

A number of other research analysts have also weighed in on the stock. The Goldman Sachs Group boosted their target price 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 research report on Thursday, January 4th. They set a "buy" rating and a $33.00 price objective for the company. Mizuho cut their price objective on shares of Safehold from $25.00 to $22.00 and set a "buy" rating for the company in a research report on Thursday, March 7th. Royal Bank of Canada cut their price objective on shares of Safehold from $33.00 to $32.00 and set an "outperform" rating for the company in a research report on Thursday, February 15th. Finally, JMP Securities began coverage on shares of Safehold in a research report on Tuesday, January 23rd. They set an "outperform" rating and a $35.00 price objective for the company. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company's stock. According to data from MarketBeat, Safehold presently has a consensus rating of "Moderate Buy" and an average price target of $28.40.

Safehold Stock Up 0.9 %

NYSE:SAFE traded up $0.17 during trading hours on Wednesday, reaching $18.26. The company's stock had a trading volume of 469,726 shares, compared to its average volume of 354,769. The company has a market cap of $1.30 billion, a price-to-earnings ratio of -22.54 and a beta of 1.46. Safehold has a one year low of $15.00 and a one year high of $30.00. The business's 50-day moving average is $20.17 and its 200-day moving average is $19.84. 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 (NYSE:SAFE - Get Free Report) last released its earnings results on Monday, February 12th. The company reported $0.36 earnings per share for the quarter, topping analysts' consensus estimates of $0.35 by $0.01. The firm had revenue of $103.00 million during the quarter, compared to analyst estimates of $84.89 million. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The business's revenue was up 40.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($6.00) EPS. Equities research analysts predict that Safehold will post 1.52 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. grew its stake in Safehold by 11.8% during the third quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company's stock worth $137,234,000 after buying an additional 816,033 shares during the last quarter. BlackRock Inc. grew its stake in Safehold by 51.4% during the first quarter. BlackRock Inc. now owns 7,325,064 shares of the company's stock worth $211,511,000 after buying an additional 2,487,183 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Safehold by 24.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,241,562 shares of the company's stock worth $64,154,000 after buying an additional 443,049 shares during the last quarter. UBS Group AG grew its stake in Safehold by 1,002.8% during the fourth quarter. UBS Group AG now owns 2,206,178 shares of the company's stock worth $51,625,000 after buying an additional 2,006,133 shares during the last quarter. Finally, State Street Corp grew its stake in Safehold by 43.9% during the first quarter. State Street Corp now owns 2,114,552 shares of the company's stock worth $62,104,000 after buying an additional 645,322 shares during the last quarter. Institutional investors and hedge funds 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.