Morgan Stanley Downgrades Safehold (NYSE:SAFE) to Equal Weight

Safehold (NYSE:SAFE) was downgraded by equities researchers at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a note issued to investors on Wednesday, MarketBeat reports. They currently have a $19.00 price objective on the stock, down from their previous price objective of $30.00. Morgan Stanley’s price objective points to a potential upside of 15.01% from the stock’s current price.

A number of other equities analysts have also recently commented on the company. JMP Securities reissued a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Tuesday, October 29th. Wedbush reissued a “neutral” rating and issued a $23.00 target price (down previously from $25.00) on shares of Safehold in a report on Monday, November 4th. Royal Bank of Canada lifted their price target on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Mizuho upped their price objective on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group cut their target price on shares of Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Safehold currently has a consensus rating of “Hold” and a consensus target price of $26.00.

Safehold Price Performance

Shares of NYSE SAFE opened at $16.52 on Wednesday. The stock has a market capitalization of $1.18 billion, a PE ratio of 9.72 and a beta of 1.67. Safehold has a fifty-two week low of $15.55 and a fifty-two week 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 37.83. The business has a fifty day moving average price of $19.73 and a two-hundred day moving average price of $22.24.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The business had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. Safehold’s revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts predict that Safehold will post 1.56 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Safehold

A number of hedge funds and other institutional investors have recently made changes to their positions in SAFE. Long Pond Capital LP raised its stake in Safehold by 14.9% during the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after buying an additional 345,661 shares during the last quarter. State Street Corp raised its position in shares of Safehold by 2.0% in the 3rd quarter. State Street Corp now owns 2,618,033 shares of the company’s stock worth $69,131,000 after acquiring an additional 51,035 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Safehold by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock valued at $32,734,000 after purchasing an additional 38,074 shares during the period. Charles Schwab Investment Management Inc. boosted its position in shares of Safehold by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after purchasing an additional 39,320 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Safehold by 3.2% during the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock worth $12,926,000 after buying an additional 20,483 shares in the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

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.