Safehold (NYSE:SAFE) Rating Reiterated by JMP Securities

Safehold (NYSE:SAFE)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a report issued on Tuesday, Benzinga reports. They currently have a $35.00 price target on the stock. JMP Securities’ target price indicates a potential upside of 81.54% from the stock’s previous close.

A number of other research firms have also weighed in on SAFE. Royal Bank of Canada lowered their target price on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating on the stock in a report on Thursday, February 15th. Mizuho decreased their price target on Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, March 7th. The Goldman Sachs Group raised their price objective on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, JPMorgan Chase & Co. cut their price objective on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $27.44.

Safehold Stock Down 2.6 %

SAFE stock opened at $19.28 on Tuesday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 36.61 and a current ratio of 36.61. Safehold has a fifty-two week low of $15.00 and a fifty-two week high of $29.11. The stock’s 50 day simple moving average is $19.68 and its 200 day simple moving average is $20.09. The company has a market cap of $1.37 billion, a P/E ratio of -42.84 and a beta of 1.48.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, May 6th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The company had revenue of $93.20 million for the quarter, compared to analyst estimates of $88.20 million. During the same period in the prior year, the firm earned $0.41 earnings per share. Safehold’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, research analysts expect that Safehold will post 1.53 earnings per share for the current fiscal year.

Institutional Trading of Safehold

A number of large investors have recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in shares of Safehold by 1,240.4% during the 3rd quarter. Fifth Third Bancorp now owns 1,394 shares of the company’s stock valued at $25,000 after acquiring an additional 1,290 shares during the period. Versant Capital Management Inc grew its holdings in Safehold by 197.7% during the fourth quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock valued at $33,000 after purchasing an additional 931 shares during the period. GAMMA Investing LLC purchased a new stake in Safehold in the fourth quarter worth $33,000. Roble Belko & Company Inc purchased a new stake in Safehold in the first quarter worth $45,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of Safehold by 195.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,523 shares of the company’s stock valued at $81,000 after buying an additional 2,994 shares during the period. Hedge funds and other institutional investors 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.