Safehold (NYSE:SAFE) PT Lowered to $29.00

Safehold (NYSE:SAFE - Get Free Report) had its price objective dropped by analysts at Royal Bank of Canada from $32.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an "outperform" rating on the stock. Royal Bank of Canada's price objective suggests a potential upside of 50.41% from the stock's previous close.

SAFE has been the subject of several other reports. JPMorgan Chase & Co. reduced their target price on Safehold from $23.00 to $21.00 and set a "neutral" rating for the company in a report on Wednesday, April 17th. Mizuho decreased their price target on shares of Safehold from $25.00 to $22.00 and set a "buy" rating for the company in a research note on Thursday, March 7th. The Goldman Sachs Group upped their target price on shares of Safehold from $25.00 to $29.00 and gave the company a "buy" rating in a report on Thursday, January 11th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $35.00 price objective on shares of Safehold in a research report on Tuesday. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $27.44.

Safehold Trading Down 2.6 %

Shares of NYSE:SAFE traded down $0.52 during midday trading on Wednesday, reaching $19.28. 258,887 shares of the company's stock were exchanged, compared to its average volume of 340,709. The stock has a market cap of $1.37 billion, a price-to-earnings ratio of -23.80 and a beta of 1.48. 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 has a fifty-two week low of $15.00 and a fifty-two week high of $29.11. The firm's 50 day simple moving average is $19.69 and its two-hundred day simple moving average is $20.10.

Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings data on Monday, May 6th. The company reported $0.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.04. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The business had revenue of $93.20 million during the quarter, compared to analysts' expectations of $88.20 million. During the same period in the previous year, the company earned $0.41 EPS. The company's revenue for the quarter was up 19.0% on a year-over-year basis. As a group, sell-side analysts forecast that Safehold will post 1.53 EPS for the current fiscal year.

Hedge Funds Weigh In On Safehold

Hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in shares of Safehold by 11.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company's stock worth $137,234,000 after purchasing an additional 816,033 shares during the last quarter. UBS Group AG increased its position in Safehold by 1,002.8% during the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company's stock worth $51,625,000 after purchasing an additional 2,006,133 shares in the last quarter. Aew Capital Management L P acquired a new position in Safehold in the 4th quarter valued at about $25,605,000. Mesirow Institutional Investment Management Inc. lifted its holdings in Safehold by 33.5% in the 4th quarter. Mesirow Institutional Investment Management Inc. now owns 664,542 shares of the company's stock valued at $15,550,000 after purchasing an additional 166,846 shares in the last quarter. Finally, Sei Investments Co. grew its holdings in shares of Safehold by 62.4% during the first quarter. Sei Investments Co. now owns 649,582 shares of the company's stock worth $13,381,000 after buying an additional 249,500 shares in the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

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.