Safehold (NYSE:SAFE) Given New $24.00 Price Target at The Goldman Sachs Group

Safehold (NYSE:SAFE) had its price target decreased by equities researchers at The Goldman Sachs Group from $29.00 to $24.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 32.23% from the stock’s previous close.

Several other equities research analysts also recently weighed in on SAFE. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research note on Thursday, September 19th. Wedbush reiterated a “neutral” rating and issued a $23.00 price objective (down from $25.00) on shares of Safehold in a research note on Monday, November 4th. JMP Securities reissued a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research note on Tuesday, October 29th. Royal Bank of Canada upped their price target on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Finally, Mizuho lifted their price objective on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Safehold presently has an average rating of “Moderate Buy” and an average price target of $26.88.

Safehold Price Performance

SAFE stock opened at $18.15 on Tuesday. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of 10.68 and a beta of 1.67. Safehold has a 52-week low of $17.91 and a 52-week high of $28.80. The business has a fifty day moving average of $20.32 and a two-hundred day moving average of $22.35. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE) last announced its earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. During the same quarter in the previous year, the company earned $0.33 earnings per share. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that Safehold will post 1.56 earnings per share for the current year.

Hedge Funds Weigh In On Safehold

Several hedge funds have recently added to or reduced their stakes in the stock. Long Pond Capital LP boosted its holdings in shares of Safehold by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after buying an additional 345,661 shares in the last quarter. State Street Corp boosted its stake in Safehold by 2.0% in the third quarter. State Street Corp now owns 2,618,033 shares of the company’s stock valued at $69,131,000 after acquiring an additional 51,035 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of Safehold by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock worth $32,734,000 after purchasing an additional 38,074 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Safehold by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock worth $18,039,000 after purchasing an additional 39,320 shares in the last quarter. Finally, Sei Investments Co. boosted its position in shares of Safehold by 3.2% in the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock valued at $12,926,000 after purchasing an additional 20,483 shares during the period. 70.38% of the stock is currently 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.