Royal Bank Of Canada Issues Pessimistic Forecast for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE) had its price objective lowered by Royal Bank Of Canada from $16.00 to $13.00 in a report released on Friday, Benzinga reports. The firm currently has a “sector perform” rating on the stock. Royal Bank Of Canada’s price objective would suggest a potential upside of 8.33% from the company’s current price.

A number of other research analysts have also recently commented on SAFE. Cantor Fitzgerald restated a “neutral” rating on shares of Safehold in a research note on Tuesday, August 4th. Weiss Ratings lowered Safehold from a “hold (c)” rating to a “hold (c-)” rating in a research report on Tuesday. Truist Financial lowered their price objective on shares of Safehold from $17.00 to $13.00 and set a “hold” rating for the company in a research report on Monday, September 28th. Zacks Research raised shares of Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, JPMorgan Chase & Co. cut Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 target price on the stock. in a research note on Thursday, September 24th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, Safehold has an average rating of “Hold” and an average target price of $15.17.

Safehold Trading Down 0.8%

SAFE stock traded down $0.10 during midday trading on Friday, reaching $12.00. 52,732 shares of the company’s stock traded hands, compared to its average volume of 381,914. The company has a debt-to-equity ratio of 1.77, a current ratio of 34.37 and a quick ratio of 34.36. Safehold has a fifty-two week low of $11.60 and a fifty-two week high of $17.45. The business has a 50-day moving average price of $14.34 and a two-hundred day moving average price of $14.99. The company has a market capitalization of $849.79 million, a P/E ratio of 7.41, a PEG ratio of 3.58 and a beta of 1.78.

Safehold (NYSE:SAFE) last issued its earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. Safehold had a net margin of 27.70% and a return on equity of 4.76%. The business had revenue of $114.65 million for the quarter, compared to the consensus estimate of $110.78 million. Equities research analysts forecast that Safehold will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling at Safehold

In other news, Director Robin Josephs sold 9,500 shares of the firm’s stock in a transaction 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 legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.80% of the company’s stock.

Institutional Investors Weigh In On Safehold

A number of hedge funds have recently made changes to their positions in the company. Versant Capital Management Inc boosted its holdings in shares of Safehold by 109.4% in the 3rd quarter. Versant Capital Management Inc now owns 5,635 shares of the company’s stock worth $66,000 after acquiring an additional 2,944 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Safehold by 32.0% during the first quarter. PNC Financial Services Group Inc. now owns 6,094 shares of the company’s stock worth $82,000 after buying an additional 1,478 shares during the last quarter. CoreCap Advisors LLC boosted its position in shares of Safehold by 20.7% in the 3rd quarter. CoreCap Advisors LLC now owns 7,530 shares of the company’s stock worth $89,000 after purchasing an additional 1,290 shares during the last quarter. IFM Investors Pty Ltd bought a new position in Safehold during the first quarter worth about $122,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Safehold during the 2nd quarter worth approximately $189,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

About Safehold

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning ground leases. Through its ground-lease model, the company acquires and owns the land beneath commercial, residential, and other real estate assets while leasing that land to property owners under long-term agreements. This structure allows building owners to access the value of the land without selling the underlying property.

Safehold’s portfolio has included ground leases supporting multifamily, office, hotel, life sciences, industrial, and other commercial properties.