JPMorgan Chase & Co. Cuts Safehold (NYSE:SAFE) Price Target to $19.00

Safehold (NYSE:SAFE - Free Report) had its price target decreased by JPMorgan Chase & Co. from $20.00 to $19.00 in a research report report published on Wednesday,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

A number of other equities analysts also recently commented on SAFE. Wedbush reiterated a "neutral" rating and set a $20.00 target price on shares of Safehold in a research note on Monday, March 31st. Truist Financial lowered their target price on shares of Safehold from $20.00 to $18.00 and set a "hold" rating for the company in a research note on Monday, May 19th. Royal Bank Of Canada decreased their price objective on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. The Goldman Sachs Group decreased their price objective on shares of Safehold from $28.00 to $25.00 and set a "buy" rating for the company in a research note on Wednesday, May 14th. Finally, Mizuho decreased their price objective on shares of Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, June 16th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $22.33.

Safehold Stock Performance

Shares of NYSE SAFE traded down $0.34 during trading on Wednesday, reaching $15.27. 83,606 shares of the company traded hands, compared to its average volume of 405,679. The firm's fifty day simple moving average is $15.40 and its 200 day simple moving average is $16.54. The stock has a market cap of $1.09 billion, a P/E ratio of 10.45, a PEG ratio of 1.51 and a beta of 1.79. Safehold has a 12-month low of $13.68 and a 12-month high of $28.80. The company has a current ratio of 37.17, a quick ratio of 37.17 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. Safehold had a return on equity of 4.76% and a net margin of 28.20%. The firm had revenue of $97.68 million for the quarter, compared to analysts' expectations of $95.55 million. During the same period last year, the firm earned $0.43 EPS. The company's quarterly revenue was up 4.8% on a year-over-year basis. As a group, research analysts anticipate that Safehold will post 1.58 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a dividend of $0.177 per share. The ex-dividend date is Monday, June 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.64%. Safehold's dividend payout ratio (DPR) is 48.63%.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Smartleaf Asset Management LLC increased its stake in shares of Safehold by 268.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company's stock worth $26,000 after purchasing an additional 1,020 shares in the last quarter. US Bancorp DE grew its stake in Safehold by 136.4% in the 1st quarter. US Bancorp DE now owns 2,215 shares of the company's stock worth $41,000 after acquiring an additional 1,278 shares during the period. Versant Capital Management Inc grew its stake in shares of Safehold by 73.9% during the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company's stock valued at $44,000 after buying an additional 1,010 shares during the period. Tower Research Capital LLC TRC grew its stake in shares of Safehold by 23.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company's stock valued at $83,000 after buying an additional 849 shares during the period. Finally, PNC Financial Services Group Inc. grew its stake in shares of Safehold by 16.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company's stock valued at $156,000 after buying an additional 1,173 shares during the period. 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.