Safehold (NYSE:SAFE) Given “Market Outperform” Rating at JMP Securities

Safehold (NYSE:SAFE)‘s stock had its “market outperform” rating restated by JMP Securities in a research note issued to investors on Thursday,Benzinga reports. They currently have a $35.00 price target on the stock. JMP Securities’ price objective would indicate a potential upside of 102.38% from the stock’s previous close.

A number of other research firms have also weighed in on SAFE. The Goldman Sachs Group reduced their price objective 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. Royal Bank of Canada raised their price target on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Morgan Stanley downgraded Safehold from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $30.00 to $19.00 in a research report on Wednesday, January 15th. Mizuho increased their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Wedbush reissued a “neutral” rating and set a $23.00 target price (down from $25.00) on shares of Safehold in a research note on Monday, November 4th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, Safehold currently has a consensus rating of “Hold” and an average price target of $25.56.

Safehold Trading Down 3.2 %

SAFE opened at $17.29 on Thursday. The stock has a 50-day moving average of $18.33 and a 200 day moving average of $21.79. The company has a current ratio of 37.83, a quick ratio of 37.83 and a debt-to-equity ratio of 1.85. Safehold has a 12 month low of $15.55 and a 12 month high of $28.80. The firm has a market cap of $1.24 billion, a P/E ratio of 10.17 and a beta of 1.66.

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

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SAFE. JPMorgan Chase & Co. boosted its stake in shares of Safehold by 16.1% during 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 in the last quarter. Victory Capital Management Inc. bought a new position in Safehold in the third quarter worth approximately $639,000. Charles Schwab Investment Management Inc. lifted its holdings in Safehold by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock worth $18,039,000 after buying an additional 39,320 shares during the period. Barclays PLC boosted its position in Safehold by 317.9% during the 3rd quarter. Barclays PLC now owns 85,932 shares of the company’s stock valued at $2,254,000 after acquiring an additional 65,370 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in Safehold by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock valued at $32,734,000 after acquiring an additional 38,074 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

About Safehold

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.