The Goldman Sachs Group Has Lowered Expectations for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE) had its target price decreased by stock analysts at The Goldman Sachs Group from $29.00 to $24.00 in a note issued to investors on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 32.23% from the stock’s current price.

SAFE has been the subject of a number of other research reports. Mizuho raised their target price on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research report on Tuesday, October 29th. Wedbush reaffirmed a “neutral” rating and issued a $23.00 target price (down previously from $25.00) on shares of Safehold in a research note on Monday, November 4th. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research note on Thursday, September 19th. Finally, Royal Bank of Canada lifted their target price on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.88.

Safehold Stock Performance

NYSE SAFE opened at $18.15 on Tuesday. The business’s 50-day moving average price is $20.32 and its 200 day moving average price is $22.35. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. The firm has a market cap of $1.30 billion, a P/E ratio of 10.68 and a beta of 1.67. Safehold has a 52-week low of $17.91 and a 52-week high of $28.80.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The firm had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. Safehold’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm posted $0.33 EPS. On average, equities research analysts expect that Safehold will post 1.56 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC raised its position in shares of Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after purchasing an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Safehold by 35.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after purchasing an additional 471 shares during the period. KBC Group NV increased its stake in shares of Safehold by 79.3% during the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after acquiring an additional 1,275 shares during the period. Vestcor Inc bought a new position in Safehold during the third quarter valued at about $110,000. Finally, FMR LLC raised its holdings in shares of Safehold by 24.9% in the 3rd quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after purchasing an additional 1,163 shares in the last quarter. 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.