Safehold (NYSE:SAFE) Price Target Increased to $25.00 by Analysts at Wedbush

Safehold (NYSE:SAFE) had its price objective lifted by research analysts at Wedbush from $20.00 to $25.00 in a report released on Wednesday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Wedbush’s price objective indicates a potential upside of 8.18% from the company’s previous close.

Other equities research analysts also recently issued reports about the company. Royal Bank of Canada dropped their target price on Safehold from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Mizuho cut shares of Safehold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $20.00 in a research note on Friday, May 10th. JPMorgan Chase & Co. reduced their price objective on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. The Goldman Sachs Group upped their target price on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Finally, JMP Securities reissued a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research report on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Safehold currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.89.

Safehold Stock Down 0.3 %

Safehold stock traded down $0.06 on Wednesday, hitting $23.11. 53,388 shares of the stock traded hands, compared to its average volume of 338,125. The business’s fifty day simple moving average is $19.81 and its 200 day simple moving average is $19.97. The firm has a market cap of $1.65 billion, a P/E ratio of -51.36 and a beta of 1.65. The company has a current ratio of 42.51, a quick ratio of 42.51 and a debt-to-equity ratio of 1.78. Safehold has a 1 year low of $15.00 and a 1 year high of $25.02.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.68%. The business had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $87.28 million. During the same quarter in the prior year, the company earned $0.35 earnings per share. The business’s revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts forecast that Safehold will post 1.57 earnings per share for the current year.

Hedge Funds Weigh In On Safehold

Institutional investors and hedge funds have recently modified their holdings of the company. Strs Ohio boosted its position in Safehold by 0.4% in the fourth quarter. Strs Ohio now owns 145,864 shares of the company’s stock worth $3,413,000 after purchasing an additional 600 shares during the last quarter. ProShare Advisors LLC boosted its holdings in shares of Safehold by 7.5% in the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after buying an additional 676 shares during the last quarter. Handelsbanken Fonder AB grew its position in Safehold by 6.8% during the fourth quarter. Handelsbanken Fonder AB now owns 11,043 shares of the company’s stock valued at $258,000 after buying an additional 700 shares during the period. GAMMA Investing LLC increased its holdings in Safehold by 49.3% during the first quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock valued at $44,000 after buying an additional 702 shares during the last quarter. Finally, Daiwa Securities Group Inc. raised its position in Safehold by 7.0% in the first quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock worth $298,000 after acquiring an additional 949 shares during the period. 70.38% of the stock is currently 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.