JPMorgan Chase & Co. Trims Safehold (NYSE:SAFE) Target Price to $21.00

Safehold (NYSE:SAFE) had its price objective decreased by JPMorgan Chase & Co. from $23.00 to $21.00 in a research report released on Wednesday morning, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

Several other analysts have also recently weighed in on the stock. Mizuho reduced their target price on shares of Safehold from $25.00 to $22.00 and set a buy rating on the stock in a report on Thursday, March 7th. Jefferies Financial Group began coverage on shares of Safehold in a research report on Thursday, January 4th. They set a buy rating and a $33.00 price objective for the company. JMP Securities began coverage on Safehold in a research note on Tuesday, January 23rd. They issued an outperform rating and a $35.00 price target on the stock. The Goldman Sachs Group upped their price objective on Safehold from $25.00 to $29.00 and gave the stock a buy rating in a research report on Thursday, January 11th. Finally, Royal Bank of Canada cut their target price on Safehold from $33.00 to $32.00 and set an outperform rating on the stock in a research report on Thursday, February 15th. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, Safehold currently has an average rating of Moderate Buy and a consensus target price of $28.40.

Safehold Stock Performance

Shares of SAFE stock opened at $18.95 on Wednesday. The firm has a 50 day moving average of $20.10 and a two-hundred day moving average of $19.85. The stock has a market capitalization of $1.35 billion, a PE ratio of -23.40 and a beta of 1.46. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78. Safehold has a 52 week low of $15.00 and a 52 week high of $29.59.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Monday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The business had revenue of $103.00 million for the quarter, compared to analysts’ expectations of $84.89 million. During the same period last year, the firm earned ($6.00) earnings per share. The company’s revenue for the quarter was up 40.3% compared to the same quarter last year. On average, research analysts predict that Safehold will post 1.52 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 3.74%. The ex-dividend date was Wednesday, March 27th. Safehold’s payout ratio is currently -86.42%.

Institutional Investors Weigh In On Safehold

Institutional investors and hedge funds have recently made changes to their positions in the business. Fifth Third Bancorp raised its stake in Safehold by 1,240.4% during the 3rd quarter. Fifth Third Bancorp now owns 1,394 shares of the company’s stock valued at $25,000 after acquiring an additional 1,290 shares during the last quarter. State of Wyoming purchased a new stake in shares of Safehold during the second quarter worth approximately $25,000. Tower Research Capital LLC TRC raised its stake in shares of Safehold by 470.4% during the third quarter. Tower Research Capital LLC TRC now owns 1,717 shares of the company’s stock worth $31,000 after purchasing an additional 1,416 shares during the last quarter. Versant Capital Management Inc lifted its holdings in shares of Safehold by 197.7% during the fourth quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock worth $33,000 after purchasing an additional 931 shares during the period. Finally, GAMMA Investing LLC purchased a new position in Safehold in the 4th quarter valued at $33,000. 70.38% of the stock is owned by hedge funds and other 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.