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

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

Several other equities research analysts also recently issued reports on SAFE. Mizuho lowered 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. Royal Bank Of Canada decreased their price target 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. Morgan Stanley decreased their price target on shares of Safehold from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research note on Tuesday, April 29th. Truist Financial decreased their price target 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. Finally, The Goldman Sachs Group decreased their price target 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. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. According to MarketBeat.com, Safehold presently has an average rating of "Hold" and a consensus target price of $22.33.

Safehold Stock Performance

Shares of Safehold stock traded down $0.25 during midday trading on Wednesday, hitting $15.35. The company had a trading volume of 359,883 shares, compared to its average volume of 406,031. The business's 50 day simple moving average is $15.38 and its two-hundred day simple moving average is $16.52. The stock has a market cap of $1.10 billion, a PE ratio of 10.51, a P/E/G ratio of 1.54 and a beta of 1.79. The company has a debt-to-equity ratio of 1.82, a current ratio of 37.17 and a quick ratio of 37.17. Safehold has a 1-year low of $13.68 and a 1-year 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 the consensus estimate of $0.43 by $0.01. The business had revenue of $97.68 million for the quarter, compared to the consensus estimate of $95.55 million. Safehold had a net margin of 28.20% and a return on equity of 4.76%. Safehold's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $0.43 earnings per share. As a group, equities analysts predict that Safehold will post 1.58 EPS for the current fiscal year.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.177 dividend. The ex-dividend date of this dividend is Monday, June 30th. This represents a $0.71 annualized dividend and a dividend yield of 4.61%. Safehold's dividend payout ratio is presently 48.63%.

Institutional Investors Weigh In On Safehold

Several institutional investors and hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of Safehold by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company's stock valued at $146,352,000 after purchasing an additional 93,236 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Safehold by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,305,041 shares of the company's stock valued at $80,591,000 after purchasing an additional 38,272 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Safehold by 11.1% in the 4th quarter. American Century Companies Inc. now owns 1,515,743 shares of the company's stock valued at $28,011,000 after purchasing an additional 150,976 shares in the last quarter. JPMorgan Chase & Co. boosted its stake in shares of Safehold by 58.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,051,078 shares of the company's stock valued at $19,424,000 after purchasing an additional 388,899 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in shares of Safehold by 4.3% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company's stock valued at $13,251,000 after purchasing an additional 29,348 shares in the last quarter. Institutional investors and hedge funds 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.