Safehold (NYSE:SAFE) Downgraded by Sumitomo Mitsui Financial Group

Safehold (NYSE:SAFEGet Rating) was downgraded by equities researchers at Sumitomo Mitsui Financial Group from an “outperform” rating to a “neutral” rating in a research note issued on Friday, Briefing.com reports. They currently have a $33.00 price target on the stock. Sumitomo Mitsui Financial Group’s price target points to a potential upside of 3.16% from the company’s previous close.

A number of other research analysts also recently issued reports on SAFE. Mizuho raised Safehold from a “neutral” rating to a “buy” rating and decreased their price target for the company from $75.00 to $50.00 in a report on Friday, August 12th. Morgan Stanley reduced their target price on Safehold from $100.00 to $85.00 and set an “overweight” rating for the company in a research note on Friday, July 15th. One analyst has rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $57.67.

Safehold Trading Down 2.7 %

Shares of NYSE:SAFE opened at $31.99 on Friday. Safehold has a 12-month low of $31.17 and a 12-month high of $80.69. The company has a market capitalization of $1.99 billion, a PE ratio of 20.51 and a beta of 0.35. The business has a 50 day moving average of $40.36 and a two-hundred day moving average of $43.78.

Safehold (NYSE:SAFEGet Rating) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.37 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.40 by ($0.03). Safehold had a net margin of 39.65% and a return on equity of 4.81%. The company had revenue of $64.88 million during the quarter, compared to analyst estimates of $64.93 million. Equities research analysts predict that Safehold will post 1.62 earnings per share for the current fiscal year.

Institutional Trading of Safehold

Several large investors have recently made changes to their positions in the company. abrdn plc grew its holdings in Safehold by 4.9% in the 4th quarter. abrdn plc now owns 3,844 shares of the company’s stock valued at $307,000 after buying an additional 180 shares in the last quarter. Van ECK Associates Corp grew its holdings in Safehold by 15.1% in the 1st quarter. Van ECK Associates Corp now owns 1,861 shares of the company’s stock valued at $103,000 after buying an additional 244 shares in the last quarter. FMR LLC grew its holdings in Safehold by 17.8% in the 2nd quarter. FMR LLC now owns 1,643 shares of the company’s stock valued at $58,000 after buying an additional 248 shares in the last quarter. Yousif Capital Management LLC grew its holdings in Safehold by 2.0% in the 1st quarter. Yousif Capital Management LLC now owns 12,876 shares of the company’s stock valued at $714,000 after buying an additional 250 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in Safehold by 6.5% in the 1st quarter. Arizona State Retirement System now owns 4,587 shares of the company’s stock valued at $254,000 after buying an additional 281 shares in the last quarter. 25.61% of the stock is currently owned by hedge funds and other institutional investors.

About Safehold

(Get Rating)

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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

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