Safehold (NYSE:SAFE) Given New $16.00 Price Target at Truist Financial

Safehold (NYSE:SAFE) had its price objective reduced by Truist Financial from $18.00 to $16.00 in a report issued on Thursday,Benzinga reports. They currently have a hold rating on the stock.

A number of other analysts have also weighed in on the stock. Royal Bank Of Canada lowered their price target on shares of Safehold from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, May 19th. The Goldman Sachs Group decreased their price objective on Safehold from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Mizuho lifted their target price on Safehold from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday. JMP Securities dropped their target price on Safehold from $32.00 to $28.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 12th. Finally, JPMorgan Chase & Co. cut their price target on Safehold from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $21.78.

Safehold Stock Up 4.4%

Shares of NYSE SAFE opened at $16.74 on Thursday. Safehold has a 12-month low of $13.43 and a 12-month high of $28.80. The firm’s 50-day simple moving average is $15.29 and its 200 day simple moving average is $15.96. The company has a quick ratio of 36.02, a current ratio of 36.02 and a debt-to-equity ratio of 1.85. The company has a market cap of $1.20 billion, a price-to-earnings ratio of 11.71, a price-to-earnings-growth ratio of 1.44 and a beta of 1.85.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 earnings per share for the quarter, meeting the consensus estimate of $0.39. Safehold had a net margin of 27.45% and a return on equity of 4.70%. The firm had revenue of $93.84 million during the quarter, compared to analysts’ expectations of $94.05 million. During the same quarter last year, the company posted $0.41 EPS. The company’s quarterly revenue was up 4.3% compared to the same quarter last year. On average, research analysts expect that Safehold will post 1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Safehold

A number of hedge funds and other institutional investors have recently made changes to their positions in SAFE. Thrivent Financial for Lutherans grew its holdings in shares of Safehold by 25.0% in the 2nd quarter. Thrivent Financial for Lutherans now owns 84,818 shares of the company’s stock valued at $1,320,000 after buying an additional 16,940 shares during the period. Public Sector Pension Investment Board lifted its holdings in Safehold by 7.9% during the second quarter. Public Sector Pension Investment Board now owns 156,520 shares of the company’s stock worth $2,435,000 after acquiring an additional 11,503 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Safehold by 98.1% during the second quarter. Tower Research Capital LLC TRC now owns 4,832 shares of the company’s stock worth $75,000 after acquiring an additional 2,393 shares in the last quarter. State of Tennessee Department of Treasury grew its stake in Safehold by 6.0% in the second quarter. State of Tennessee Department of Treasury now owns 18,567 shares of the company’s stock valued at $289,000 after acquiring an additional 1,048 shares during the period. Finally, Michelson Medical Research Foundation Inc. bought a new stake in shares of Safehold in the second quarter worth about $4,629,000. 70.38% of the stock is owned by institutional investors.

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.