JPMorgan Chase & Co. Issues Pessimistic Forecast for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE - Free Report) had its price target lowered by JPMorgan Chase & Co. from $20.00 to $19.00 in a research note issued to investors on Wednesday morning,Benzinga reports. The firm currently has a neutral rating on the stock.

SAFE has been the topic of a number of other research reports. Mizuho dropped their price target on Safehold from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Royal Bank Of Canada reduced their price target on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Truist Financial reduced their price target on shares of Safehold from $20.00 to $18.00 and set a "hold" rating for the company in a report on Monday, May 19th. Wedbush reissued a "neutral" rating and issued a $20.00 target price on shares of Safehold in a research report on Monday, March 31st. Finally, The Goldman Sachs Group dropped their target price on Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Safehold currently has an average rating of "Hold" and an average target price of $22.33.

Safehold Trading Up 0.9%

Safehold stock traded up $0.14 during mid-day trading on Wednesday, hitting $15.62. The stock had a trading volume of 383,958 shares, compared to its average volume of 406,111. Safehold has a 12 month low of $13.68 and a 12 month high of $28.80. The stock has a 50-day simple moving average of $15.40 and a two-hundred day simple moving average of $16.56. The company has a current ratio of 37.17, a quick ratio of 37.17 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $1.12 billion, a PE ratio of 10.70, a P/E/G ratio of 1.50 and a beta of 1.79.

Safehold (NYSE:SAFE - Get Free Report) last issued its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping the consensus estimate of $0.43 by $0.01. Safehold had a net margin of 28.20% and a return on equity of 4.76%. The company had revenue of $97.68 million during the quarter, compared to analysts' expectations of $95.55 million. During the same quarter in the previous year, the company earned $0.43 EPS. Safehold's revenue was up 4.8% on a year-over-year basis. As a group, sell-side analysts forecast that Safehold will post 1.58 EPS for the current year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be given a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.53%. The ex-dividend date is Monday, June 30th. Safehold's dividend payout ratio (DPR) is presently 48.63%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Peregrine Capital Management LLC boosted its holdings in shares of Safehold by 9.0% during the 1st quarter. Peregrine Capital Management LLC now owns 336,554 shares of the company's stock worth $6,300,000 after buying an additional 27,719 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Safehold by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company's stock worth $13,251,000 after buying an additional 29,348 shares during the period. Proficio Capital Partners LLC bought a new stake in shares of Safehold during the 4th quarter worth about $306,000. GAMMA Investing LLC boosted its holdings in shares of Safehold by 2,476.8% during the 1st quarter. GAMMA Investing LLC now owns 33,808 shares of the company's stock worth $633,000 after buying an additional 32,496 shares during the period. Finally, BNP Paribas Financial Markets bought a new stake in shares of Safehold during the 4th quarter worth about $1,781,000. 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.