Mizuho Forecasts Strong Price Appreciation for Safehold (NYSE:SAFE) Stock

Safehold (NYSE:SAFE) had its price objective upped by investment analysts at Mizuho from $20.00 to $25.00 in a research report issued on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s price objective indicates a potential upside of 20.77% from the stock’s current price.

Several other analysts also recently weighed in on SAFE. JMP Securities restated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research report on Tuesday. Wedbush boosted their price target on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Thursday, September 19th. Truist Financial boosted their target price on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group raised their price target on Safehold from $25.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.44.

Safehold Stock Performance

NYSE:SAFE opened at $20.70 on Thursday. Safehold has a 12 month low of $16.14 and a 12 month high of $28.80. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 38.83. The firm has a market capitalization of $1.48 billion, a PE ratio of 12.18 and a beta of 1.66. The business’s fifty day moving average price is $25.07 and its 200 day moving average price is $21.94.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The business had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, sell-side analysts anticipate that Safehold will post 1.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Angeles Wealth Management LLC increased its stake in shares of Safehold by 77.5% during the third quarter. Angeles Wealth Management LLC now owns 53,817 shares of the company’s stock worth $1,412,000 after acquiring an additional 23,498 shares during the period. First Trust Direct Indexing L.P. purchased a new position in shares of Safehold during the 3rd quarter worth approximately $234,000. abrdn plc acquired a new stake in shares of Safehold in the 3rd quarter valued at approximately $271,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Safehold by 35.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after buying an additional 471 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new position in Safehold during the third quarter worth $766,000. 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.