Safehold (NYSE:SAFE) Coverage Initiated at Cantor Fitzgerald

Key Points

• Safehold (NYSE: SAFE) has been upgraded to a "hold" rating by Cantor Fitzgerald, reflecting a change in analysts' outlook on the stock.
• Mizuho raised their price target on Safehold from $16.00 to $17.00, while JMP Securities decreased theirs from $32.00 to $28.00, indicating mixed sentiments among research analysts.
• Safehold's stock opened at $15.62, with an average price target of $19.89, amidst recent institutional investments increasing their stake in the company significantly.

Cantor Fitzgerald began coverage on shares of Safehold (NYSE:SAFE - Get Free Report) in a research report issued on Wednesday, Marketbeat reports. The brokerage set a "neutral" rating and a $17.00 price target on the stock. Cantor Fitzgerald's price target suggests a potential upside of 8.86% from the stock's current price.

Other analysts have also issued research reports about the company. JPMorgan Chase & Co. decreased their price target on Safehold from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. JMP Securities decreased their price target on Safehold from $32.00 to $28.00 and set a "market outperform" rating on the stock in a research note on Tuesday, August 12th. Mizuho boosted their price target on Safehold from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. Finally, Truist Financial decreased their price target on Safehold from $18.00 to $16.00 and set a "hold" rating on the stock in a research note on Thursday, September 11th. Three investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $19.89.

Safehold Stock Performance

SAFE opened at $15.62 on Wednesday. The stock has a market cap of $1.12 billion, a PE ratio of 10.92, a P/E/G ratio of 1.39 and a beta of 1.85. 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 has a 1 year low of $13.43 and a 1 year high of $26.13. The stock's 50 day simple moving average is $15.50 and its 200-day simple moving average is $15.71.

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

Hedge Funds Weigh In On Safehold

A number of institutional investors and hedge funds have recently bought and sold shares of SAFE. Two Sigma Investments LP boosted its stake in Safehold by 56.7% in the fourth quarter. Two Sigma Investments LP now owns 29,687 shares of the company's stock worth $549,000 after purchasing an additional 10,740 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of Safehold by 73.9% during the first quarter. Versant Capital Management Inc now owns 2,377 shares of the company's stock valued at $44,000 after acquiring an additional 1,010 shares during the period. GAMMA Investing LLC lifted its stake in shares of 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 acquiring an additional 32,496 shares during the period. Breakwater Capital Group lifted its stake in shares of Safehold by 49.0% during the first quarter. Breakwater Capital Group now owns 18,589 shares of the company's stock valued at $348,000 after acquiring an additional 6,112 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new position in shares of Safehold during the first quarter valued at $192,000. Institutional investors and hedge funds 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.