Safehold (NYSE:SAFE) Price Target Cut to $25.00 by Analysts at The Goldman Sachs Group

Safehold (NYSE:SAFE) had its target price cut by analysts at The Goldman Sachs Group from $28.00 to $25.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 63.61% from the company’s current price.

SAFE has been the subject of a number of other research reports. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Safehold in a research report on Monday, March 31st. JMP Securities reissued a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research report on Thursday, February 6th. Mizuho cut their price objective on Safehold from $25.00 to $19.00 and set a “neutral” rating for the company in a research report on Thursday, April 3rd. Finally, Morgan Stanley cut their price objective on Safehold from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 29th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $25.38.

Safehold Price Performance

Shares of NYSE:SAFE opened at $15.28 on Wednesday. Safehold has a fifty-two week low of $13.68 and a fifty-two week high of $28.80. The business has a 50-day moving average of $16.55 and a two-hundred day moving average of $18.03. The stock has a market capitalization of $1.09 billion, a P/E ratio of 10.32 and a beta of 1.86. The company has a debt-to-equity ratio of 1.82, a current ratio of 36.59 and a quick ratio of 36.59.

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

Hedge Funds Weigh In On Safehold

Several institutional investors and hedge funds have recently added to or reduced their stakes in SAFE. Barclays PLC increased its stake in Safehold by 317.9% during the third quarter. Barclays PLC now owns 85,932 shares of the company’s stock valued at $2,254,000 after acquiring an additional 65,370 shares during the period. SG Americas Securities LLC grew its stake in shares of Safehold by 265.4% in the 4th quarter. SG Americas Securities LLC now owns 24,071 shares of the company’s stock valued at $445,000 after purchasing an additional 17,484 shares during the period. abrdn plc grew its stake in shares of Safehold by 30.6% in the 4th quarter. abrdn plc now owns 13,505 shares of the company’s stock valued at $248,000 after purchasing an additional 3,166 shares during the period. Farmers & Merchants Investments Inc. grew its stake in shares of Safehold by 5.4% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 100,335 shares of the company’s stock valued at $1,854,000 after purchasing an additional 5,133 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Safehold by 1,683.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 227,750 shares of the company’s stock valued at $4,209,000 after purchasing an additional 214,979 shares during the period. 70.38% of the stock is currently owned by institutional investors.

About Safehold

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.