JMP Securities Lowers Safehold (NYSE:SAFE) Price Target to $28.00

Key Points

• JMP Securities has reduced its target price for Safehold (NYSE:SAFE) from $32.00 to $28.00, indicating a potential upside of 97.75% from the current price.
• Safehold's earnings report showed $0.39 EPS, matching analysts' expectations, but revenue was slightly below consensus estimates at $93.84 million.
• The stock currently has a consensus rating of "Hold" among analysts, with a consensus price target of $21.89.

Safehold (NYSE:SAFE - Get Free Report) had its target price reduced by stock analysts at JMP Securities from $32.00 to $28.00 in a research report issued on Tuesday,Benzinga reports. The firm currently has a "market outperform" rating on the stock. JMP Securities' price target suggests a potential upside of 83.61% from the company's previous close.

Other equities research analysts have also recently issued reports about the stock. Truist Financial cut their price objective on shares of Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a research note on Monday, May 19th. The Goldman Sachs Group cut their price objective on shares of Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. JPMorgan Chase & Co. cut their price objective on shares of Safehold from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Royal Bank Of Canada cut their price objective on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Finally, Mizuho cut their price objective on shares of Safehold from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Five investment 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 currently has an average rating of "Hold" and an average target price of $21.89.

Safehold Stock Performance

Shares of SAFE traded down $0.25 during midday trading on Tuesday, hitting $15.25. 445,282 shares of the stock traded hands, compared to its average volume of 499,329. Safehold has a 1-year low of $13.43 and a 1-year high of $28.80. The firm has a market capitalization of $1.09 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.53 and a beta of 1.83. The company has a debt-to-equity ratio of 1.85, a quick ratio of 36.02 and a current ratio of 36.02. The business's 50 day moving average price is $15.11 and its two-hundred day moving average price is $16.07.

Safehold (NYSE:SAFE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. Safehold had a net margin of 27.45% and a return on equity of 4.70%. The company had revenue of $93.84 million during the quarter, compared to the consensus estimate of $94.05 million. During the same quarter in the previous year, the company posted $0.41 earnings per share. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. Equities research analysts predict that Safehold will post 1.58 EPS for the current fiscal year.

Hedge Funds Weigh In On Safehold

A number of institutional investors have recently bought and sold shares of the stock. Public Sector Pension Investment Board grew its stake in Safehold by 7.9% during the 2nd quarter. Public Sector Pension Investment Board now owns 156,520 shares of the company's stock valued at $2,435,000 after acquiring an additional 11,503 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Safehold by 98.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,832 shares of the company's stock valued at $75,000 after buying an additional 2,393 shares in the last quarter. State of Tennessee Department of Treasury grew its stake in shares of Safehold by 6.0% in the 2nd quarter. State of Tennessee Department of Treasury now owns 18,567 shares of the company's stock valued at $289,000 after buying an additional 1,048 shares in the last quarter. Michelson Medical Research Foundation Inc. bought a new stake in shares of Safehold in the 2nd quarter valued at approximately $4,629,000. Finally, BNP Paribas Financial Markets lifted its holdings in Safehold by 42.6% in the 2nd quarter. BNP Paribas Financial Markets now owns 68,981 shares of the company's stock worth $1,073,000 after purchasing an additional 20,618 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.