Safehold (NYSE:SAFE) Price Target Cut to $19.00 by Analysts at JPMorgan Chase & Co.

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

A number of other equities research analysts have also recently issued reports on SAFE. JMP Securities reiterated a "market outperform" rating and set a $32.00 price objective on shares of Safehold in a research note on Thursday, June 26th. Mizuho dropped their price objective on Safehold from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Wedbush reiterated a "neutral" rating and set a $20.00 price objective on shares of Safehold in a research note on Monday, March 31st. The Goldman Sachs Group dropped their price objective on Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Finally, Royal Bank Of Canada dropped their price target on Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $22.33.

Safehold Stock Up 0.8%

NYSE SAFE traded up $0.13 during trading on Wednesday, hitting $15.47. The stock had a trading volume of 398,248 shares, compared to its average volume of 406,200. The company has a market capitalization of $1.11 billion, a PE ratio of 10.60, a P/E/G ratio of 1.50 and a beta of 1.79. The company's 50-day moving average price is $15.40 and its two-hundred day moving average price is $16.56. The company has a debt-to-equity ratio of 1.82, a quick ratio of 37.17 and a current ratio of 37.17. Safehold has a 12 month low of $13.68 and a 12 month high of $28.80.

Safehold (NYSE:SAFE - Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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 company had revenue of $97.68 million for the quarter, compared to analysts' expectations of $95.55 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business's revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Safehold will post 1.58 EPS for the current year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 4.58%. The ex-dividend date of this dividend is Monday, June 30th. Safehold's dividend payout ratio is 48.63%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Peregrine Capital Management LLC grew its holdings in Safehold by 9.0% in the 1st quarter. Peregrine Capital Management LLC now owns 336,554 shares of the company's stock valued at $6,300,000 after buying an additional 27,719 shares in the last quarter. Charles Schwab Investment Management Inc. grew 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 purchasing an additional 29,348 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Safehold during the 4th quarter worth $306,000. GAMMA Investing LLC grew 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 purchasing an additional 32,496 shares in the last quarter. Finally, BNP Paribas Financial Markets acquired a new stake in shares of Safehold during the 4th quarter worth $1,781,000. 70.38% of the stock is owned by institutional investors and hedge funds.

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.