Safehold (NYSE:SAFE) Price Target Raised to $17.00

Safehold (NYSE:SAFE) had its target price increased by equities research analysts at Truist Financial from $16.00 to $17.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective suggests a potential upside of 7.63% from the stock’s current price.

A number of other research analysts have also weighed in on SAFE. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Safehold in a research note on Saturday, November 22nd. Morgan Stanley downgraded Safehold from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $16.00 to $14.00 in a research note on Thursday, January 22nd. Citigroup reiterated a “market outperform” rating on shares of Safehold in a report on Monday, December 1st. Royal Bank Of Canada cut their target price on Safehold from $20.00 to $17.00 and set an “outperform” rating on the stock in a research note on Thursday, November 6th. Finally, Mizuho raised their price target on shares of Safehold from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $19.11.

Safehold Trading Down 2.0%

SAFE stock traded down $0.32 during midday trading on Wednesday, hitting $15.80. 30,945 shares of the company’s stock were exchanged, compared to its average volume of 407,320. Safehold has a one year low of $12.76 and a one year high of $19.53. The company has a debt-to-equity ratio of 1.88, a quick ratio of 34.97 and a current ratio of 34.97. The company has a market cap of $1.13 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 2.17 and a beta of 1.86. The stock’s fifty day moving average price is $14.36 and its 200-day moving average price is $14.75.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Wednesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Safehold had a return on equity of 4.92% and a net margin of 29.69%.The company had revenue of $97.87 million during the quarter, compared to the consensus estimate of $96.71 million. Research analysts predict that Safehold will post 1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Safehold

A number of large investors have recently made changes to their positions in the company. Hantz Financial Services Inc. raised its stake in Safehold by 928.2% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,861 shares of the company’s stock worth $29,000 after purchasing an additional 1,680 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Safehold during the fourth quarter valued at approximately $31,000. Russell Investments Group Ltd. boosted its holdings in shares of Safehold by 115.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,344 shares of the company’s stock valued at $52,000 after purchasing an additional 1,789 shares in the last quarter. Advisory Services Network LLC acquired a new position in shares of Safehold during the 3rd quarter worth $57,000. Finally, Versant Capital Management Inc boosted its stake in Safehold by 179.1% in the third quarter. Versant Capital Management Inc now owns 4,225 shares of the company’s stock valued at $65,000 after buying an additional 2,711 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

About Safehold

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.