Safehold (NYSE:SAFE) Price Target Raised to $17.00 at Mizuho

Key Points

• Mizuho has raised the price target for Safehold (NYSE:SAFE) from $16.00 to $17.00, indicating a potential upside of 5.26% from the company's previous close, while maintaining a "neutral" rating.
• Multiple analysts have lowered their price targets for Safehold, with forecasts ranging from $19.00 to $28.00, reflecting a mixed outlook with four analysts giving a "Buy" rating and five a "Hold" rating.
• Safehold reported earnings of $0.39 per share for the last quarter, matching analyst estimates, and showed a 4.3% increase in revenue compared to the same quarter last year.

Safehold (NYSE:SAFE - Get Free Report) had its target price upped by Mizuho from $16.00 to $17.00 in a research report issued on Thursday,Benzinga reports. The brokerage currently has a "neutral" rating on the stock. Mizuho's target price indicates a potential upside of 5.26% from the company's previous close.

SAFE has been the subject of several other reports. JMP Securities lowered their target price on Safehold from $32.00 to $28.00 and set a "market outperform" rating for the company in a research note on Tuesday, August 12th. Royal Bank Of Canada decreased their target price on Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Truist Financial reduced their target price 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. The Goldman Sachs Group decreased their price objective on Safehold from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. decreased their price objective on Safehold from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $22.00.

Safehold Stock Performance

Shares of SAFE stock opened at $16.15 on Thursday. The company has a market capitalization of $1.16 billion, a P/E ratio of 11.25, a P/E/G ratio of 1.47 and a beta of 1.85. The business's 50 day moving average is $15.27 and its two-hundred day moving average is $15.96. Safehold has a 12-month low of $13.43 and a 12-month high of $28.80. The company has a current ratio of 36.02, a quick ratio of 36.02 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. Safehold had a return on equity of 4.70% and a net margin of 27.45%.The business had revenue of $93.84 million for the quarter, compared to the consensus estimate of $94.05 million. During the same quarter last year, the business posted $0.41 earnings per share. The business's quarterly revenue was up 4.3% compared to the same quarter last year. Analysts expect that Safehold will post 1.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. New York State Teachers Retirement System lifted its stake in shares of Safehold by 12.1% during the first quarter. New York State Teachers Retirement System now owns 51,068 shares of the company's stock worth $956,000 after purchasing an additional 5,509 shares in the last quarter. Peregrine Capital Management LLC raised its stake in Safehold by 9.0% during the first 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. Vanguard Group Inc. raised its stake in Safehold by 1.2% during the first quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company's stock valued at $146,352,000 after buying an additional 93,236 shares in the last quarter. GAMMA Investing LLC raised its stake in Safehold by 2,476.8% during the first quarter. GAMMA Investing LLC now owns 33,808 shares of the company's stock valued at $633,000 after buying an additional 32,496 shares in the last quarter. Finally, M&T Bank Corp raised its stake in Safehold by 4.4% during the first quarter. M&T Bank Corp now owns 28,742 shares of the company's stock valued at $538,000 after buying an additional 1,222 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.

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