Royal Bank of Canada Has Lowered Expectations for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE) had its price objective dropped by equities research analysts at Royal Bank of Canada from $21.00 to $20.00 in a research note issued to investors on Monday,Benzinga reports. The firm presently has an “outperform” rating on the stock. Royal Bank of Canada’s target price points to a potential upside of 29.12% from the company’s current price.

SAFE has been the subject of a number of other reports. Truist Financial dropped their price target on Safehold from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday. Mizuho reduced their price objective on Safehold from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. Morgan Stanley reduced their price objective on Safehold from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 29th. Wedbush reiterated a “neutral” rating and issued a $20.00 price target on shares of Safehold in a report on Monday, March 31st. Finally, JMP Securities reissued a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a research report on Thursday, February 6th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $23.50.

Safehold Stock Performance

Shares of SAFE opened at $15.49 on Monday. Safehold has a 12 month low of $13.68 and a 12 month high of $28.80. The business’s fifty day simple moving average is $16.36 and its two-hundred day simple moving average is $17.88. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 10.47 and a beta of 1.86.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The company had revenue of $97.68 million during the quarter, compared to analysts’ expectations of $95.55 million. Safehold had a return on equity of 4.76% and a net margin of 28.92%. Safehold’s revenue for the quarter was up 4.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.43 earnings per share. Research analysts anticipate that Safehold will post 1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Safehold

Several institutional investors and hedge funds have recently modified their holdings of SAFE. Invesco Ltd. lifted its holdings in shares of Safehold by 308.1% in the 4th quarter. Invesco Ltd. now owns 646,222 shares of the company’s stock valued at $11,942,000 after buying an additional 487,886 shares during the period. JPMorgan Chase & Co. raised its holdings in Safehold by 58.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,051,078 shares of the company’s stock worth $19,424,000 after purchasing an additional 388,899 shares during the period. 1832 Asset Management L.P. acquired a new position in Safehold in the 1st quarter worth about $6,552,000. T. Rowe Price Investment Management Inc. raised its holdings in Safehold by 8.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,266,769 shares of the company’s stock worth $78,850,000 after purchasing an additional 336,458 shares during the period. Finally, Point72 Europe London LLP acquired a new position in Safehold in the 1st quarter worth about $6,201,000. Institutional investors and hedge funds 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.