Safehold (NYSE:SAFE) Price Target Lowered to $16.00 at Truist Financial

Key Points

• Truist Financial has lowered its price target for Safehold from $18.00 to $16.00 while maintaining a "hold" rating, indicating a potential downside from the stock's previous close.
• Various analysts have adjusted their price targets for Safehold, with a consensus average of $21.78, reflecting a generally cautious outlook on the stock's performance.
• Safehold's latest earnings report revealed a $0.39 EPS, matching analysts' expectations but a slight decrease compared to the $0.41 EPS from the same period last year.

Safehold (NYSE:SAFE - Get Free Report) had its target price decreased by equities research analysts at Truist Financial from $18.00 to $16.00 in a report released on Thursday,Benzinga reports. The brokerage currently has a "hold" rating on the stock. Truist Financial's price objective suggests a potential downside of 1.53% from the stock's previous close.

SAFE has been the subject of several other reports. JMP Securities decreased their price target on shares of Safehold from $32.00 to $28.00 and set a "market outperform" rating for the company in a research report on Tuesday, August 12th. Royal Bank Of Canada reduced 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. Mizuho upped their price objective on shares of Safehold from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday. The Goldman Sachs Group reduced 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. Finally, JPMorgan Chase & Co. reduced 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. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $21.78.

Safehold Price Performance

Shares of NYSE:SAFE traded up $0.21 during midday trading on Thursday, hitting $16.25. The stock had a trading volume of 68,178 shares, compared to its average volume of 428,943. The company's 50-day moving average price is $15.27 and its 200-day moving average price is $15.96. The company has a market capitalization of $1.17 billion, a P/E ratio of 11.36, a price-to-earnings-growth ratio of 1.47 and a beta of 1.85. The company has a quick ratio of 36.02, a current ratio of 36.02 and a debt-to-equity ratio of 1.85. Safehold has a fifty-two week low of $13.43 and a fifty-two week high of $28.80.

Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.39. The business had revenue of $93.84 million during the quarter, compared to analysts' expectations of $94.05 million. Safehold had a net margin of 27.45% and a return on equity of 4.70%. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.41 EPS. As a group, equities research analysts predict that Safehold will post 1.58 EPS for the current fiscal year.

Institutional Trading of Safehold

A number of large investors have recently added to or reduced their stakes in the stock. Thrivent Financial for Lutherans increased its holdings in Safehold by 25.0% during the second quarter. Thrivent Financial for Lutherans now owns 84,818 shares of the company's stock worth $1,320,000 after buying an additional 16,940 shares during the last quarter. Public Sector Pension Investment Board boosted its position in Safehold by 7.9% during the second quarter. Public Sector Pension Investment Board now owns 156,520 shares of the company's stock worth $2,435,000 after purchasing an additional 11,503 shares during the period. Tower Research Capital LLC TRC boosted its position in Safehold by 98.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,832 shares of the company's stock worth $75,000 after purchasing an additional 2,393 shares during the period. State of Tennessee Department of Treasury boosted its position in Safehold by 6.0% during the second quarter. State of Tennessee Department of Treasury now owns 18,567 shares of the company's stock worth $289,000 after purchasing an additional 1,048 shares during the period. Finally, Michelson Medical Research Foundation Inc. bought a new position in Safehold during the second quarter worth about $4,629,000. Hedge funds and other institutional investors 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.

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