Safehold (NYSE:SAFE) Given New $23.00 Price Target at The Goldman Sachs Group

Safehold (NYSE:SAFE) had its price objective reduced by stock analysts at The Goldman Sachs Group from $27.00 to $23.00 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 59.61% from the company’s current price.

A number of other brokerages also recently weighed in on SAFE. Wall Street Zen downgraded shares of Safehold from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Morgan Stanley downgraded shares of Safehold from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $16.00 to $14.00 in a research note on Thursday, January 22nd. Truist Financial boosted their target price on shares of Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Mizuho boosted their price target on shares of Safehold from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. Finally, Royal Bank Of Canada downgraded shares of Safehold from a “market outperform” rating to a “sector perform” rating and dropped their price target for the stock from $18.00 to $16.00 in a research note on Friday, May 1st. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $18.75.

Safehold Price Performance

Shares of Safehold stock traded down $0.20 during trading on Friday, hitting $14.41. 58,239 shares of the company’s stock traded hands, compared to its average volume of 377,246. The company has a debt-to-equity ratio of 1.91, a current ratio of 35.58 and a quick ratio of 35.59. The firm’s fifty day moving average price is $14.82 and its 200 day moving average price is $14.50. Safehold has a twelve month low of $12.76 and a twelve month high of $17.16. The company has a market cap of $1.03 billion, a PE ratio of 9.05, a PEG ratio of 1.58 and a beta of 1.86.

Safehold (NYSE:SAFE) last announced its earnings results on Thursday, April 30th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Safehold had a return on equity of 4.78% and a net margin of 28.58%.The company had revenue of $110.85 million during the quarter, compared to the consensus estimate of $96.51 million. Analysts forecast that Safehold will post 1.69 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of Safehold in the 4th quarter valued at $31,000. Hantz Financial Services Inc. increased its stake in shares of Safehold by 39.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,604 shares of the company’s stock valued at $40,000 after acquiring an additional 743 shares in the last quarter. Russell Investments Group Ltd. increased its stake 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 acquiring an additional 1,789 shares in the last quarter. Advisory Services Network LLC bought a new stake in shares of Safehold in the 3rd quarter valued at $57,000. Finally, Federation des caisses Desjardins du Quebec increased its stake in shares of Safehold by 25.8% in the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,429 shares of the company’s stock valued at $61,000 after acquiring an additional 908 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Company Profile

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.