Safehold (NYSE:SAFE) Stock Price Target Cut by Truist Financial

Safehold (NYSE:SAFE) had its price target dropped by stock analysts at Truist Financial from $17.00 to $13.00 in a research report issued on Monday, Benzinga reports. The firm presently has a “hold” rating on the stock. Truist Financial’s target price indicates a potential upside of 8.88% from the company’s current price.

Several other analysts also recently commented on SAFE. Raymond James Financial initiated coverage on Safehold in a research note on Wednesday, August 19th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. cut Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 price target for the company. in a research note on Thursday. Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Mizuho dropped their price objective on Safehold from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, September 17th. Finally, Zacks Research raised Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $15.86.

Safehold Stock Down 2.6%

Shares of NYSE SAFE traded down $0.32 during midday trading on Monday, hitting $11.94. The stock had a trading volume of 86,437 shares, compared to its average volume of 364,251. The business’s 50 day moving average is $15.13 and its 200-day moving average is $15.15. The company has a market cap of $845.59 million, a P/E ratio of 7.36, a PEG ratio of 3.66 and a beta of 1.73. Safehold has a 52 week low of $11.94 and a 52 week high of $17.45. The company has a quick ratio of 34.36, a current ratio of 34.37 and a debt-to-equity ratio of 1.77.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. The company had revenue of $114.65 million during the quarter, compared to the consensus estimate of $110.78 million. Safehold had a net margin of 27.70% and a return on equity of 4.76%. As a group, analysts predict that Safehold will post 1.64 EPS for the current year.

Insider Transactions at Safehold

In related news, Director Robin Josephs sold 9,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total value of $138,320.00. Following the sale, the director owned 89,068 shares in the company, valued at approximately $1,296,830.08. This trade represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Safehold

A number of hedge funds have recently added to or reduced their stakes in SAFE. Tidal Investments LLC purchased a new stake in Safehold during the second quarter valued at $1,077,000. Squarepoint Ops LLC bought a new position in Safehold in the second quarter valued at about $658,000. Corient Private Wealth LP boosted its position in Safehold by 37.6% in the second quarter. Corient Private Wealth LP now owns 15,273 shares of the company’s stock worth $241,000 after purchasing an additional 4,171 shares during the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Safehold in the second quarter worth about $189,000. Finally, Hsbc Holdings PLC grew its stake in shares of Safehold by 7.2% during the 2nd quarter. Hsbc Holdings PLC now owns 109,952 shares of the company’s stock valued at $1,726,000 after purchasing an additional 7,370 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning and managing ground leases. Through its ground lease structure, Safehold acquires the land beneath commercial real estate properties and leases it to property owners under long-term agreements, allowing those owners to retain ownership of and operate the buildings on the sites.

The company’s ground lease investments support a range of property types, including multifamily housing, office buildings, hotels, life sciences facilities, student housing, industrial properties and retail assets.