Safehold’s (SAFE) “Neutral” Rating Reiterated at Wedbush

Safehold (NYSE:SAFE)‘s stock had its “neutral” rating restated by investment analysts at Wedbush in a report issued on Friday,Benzinga reports. They presently have a $19.00 price target on the stock, down from their previous price target of $20.00. Wedbush’s target price points to a potential upside of 10.02% from the company’s previous close.

A number of other analysts also recently weighed in on SAFE. Royal Bank of Canada increased their target price on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities restated a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a research report on Thursday. The Goldman Sachs Group decreased their target price on shares of Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Morgan Stanley lowered shares of Safehold from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $30.00 to $19.00 in a research note on Wednesday, January 15th. Finally, Mizuho increased their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $25.56.

Safehold Price Performance

Shares of NYSE:SAFE traded down $0.59 during midday trading on Friday, hitting $17.27. The stock had a trading volume of 290,734 shares, compared to its average volume of 529,098. The company’s 50-day moving average price is $18.33 and its 200-day moving average price is $21.79. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. Safehold has a fifty-two week low of $15.55 and a fifty-two week high of $28.80. The company has a market capitalization of $1.23 billion, a P/E ratio of 10.16 and a beta of 1.66.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, meeting the consensus estimate of $0.36. Safehold had a net margin of 32.08% and a return on equity of 4.79%. During the same period in the prior year, the business posted $0.36 earnings per share. As a group, equities research analysts predict that Safehold will post 1.57 EPS for the current fiscal year.

Institutional Investors Weigh In On Safehold

Hedge funds have recently modified their holdings of the stock. State Street Corp raised its position in shares of Safehold by 2.0% during the third quarter. State Street Corp now owns 2,618,033 shares of the company’s stock valued at $69,131,000 after buying an additional 51,035 shares during the last quarter. Geode Capital Management LLC grew its stake in 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 buying an additional 38,074 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Safehold by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company’s stock worth $13,251,000 after buying an additional 29,348 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Safehold by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company’s stock valued at $17,369,000 after purchasing an additional 91,965 shares during the period. Finally, Bank of New York Mellon Corp lifted its stake in shares of Safehold by 1.7% in the 4th quarter. Bank of New York Mellon Corp now owns 435,784 shares of the company’s stock valued at $8,053,000 after purchasing an additional 7,437 shares during the period. 70.38% of the stock is 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.