Safehold (NYSE:SAFE) Price Target Cut to $24.00 by Analysts at The Goldman Sachs Group

Safehold (NYSE:SAFE) had its price objective dropped by equities research analysts at The Goldman Sachs Group from $29.00 to $24.00 in a research report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price points to a potential upside of 45.45% from the stock’s current price.

A number of other analysts also recently weighed in on SAFE. Royal Bank of Canada lifted their price target on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a report on Tuesday, October 29th. Wedbush reaffirmed a “neutral” rating and set a $23.00 price target (down from $25.00) on shares of Safehold in a research note on Monday, November 4th. Mizuho raised their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Safehold currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.88.

Safehold Stock Down 2.7 %

Shares of Safehold stock opened at $16.50 on Tuesday. The company has a market cap of $1.18 billion, a P/E ratio of 9.71 and a beta of 1.67. The firm has a fifty day moving average of $20.10 and a two-hundred day moving average of $22.29. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. Safehold has a one year low of $16.30 and a one year high of $28.80.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) 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 firm had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. During the same period in the prior year, the company posted $0.33 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. On average, analysts forecast that Safehold will post 1.56 earnings per share for the current year.

Institutional Trading of Safehold

Several large investors have recently modified their holdings of the business. Long Pond Capital LP lifted its stake in Safehold by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after buying an additional 345,661 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Safehold by 266.5% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 349,631 shares of the company’s stock valued at $9,171,000 after acquiring an additional 254,227 shares in the last quarter. Heitman Real Estate Securities LLC purchased a new stake in shares of Safehold in the third quarter valued at $3,683,000. 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 acquiring an additional 91,965 shares during the last quarter. Finally, HGI Capital Management LLC raised its stake in Safehold by 74.5% in the 3rd quarter. HGI Capital Management LLC now owns 212,887 shares of the company’s stock valued at $5,584,000 after purchasing an additional 90,866 shares during the last quarter. 70.38% of the stock is currently 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.