Safehold’s (SAFE) Market Outperform Rating Reiterated at JMP Securities

Safehold (NYSE:SAFE)‘s stock had its “market outperform” rating reaffirmed by investment analysts at JMP Securities in a report issued on Thursday,Benzinga reports. They currently have a $35.00 price target on the stock. JMP Securities’ price objective would indicate a potential upside of 101.38% from the stock’s current price.

A number of other equities research analysts have also weighed in on the company. Royal Bank of Canada lifted their price objective on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. The Goldman Sachs Group cut their price objective on shares of Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Mizuho raised their target price on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wedbush reiterated a “neutral” rating and issued a $23.00 price target (down previously from $25.00) on shares of Safehold in a research note on Monday, November 4th. Finally, Morgan Stanley lowered Safehold from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $30.00 to $19.00 in a research note on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $26.00.

Safehold Price Performance

Shares of Safehold stock traded up $0.83 on Thursday, reaching $17.38. The company’s stock had a trading volume of 119,728 shares, compared to its average volume of 521,485. Safehold has a 52-week low of $15.55 and a 52-week high of $28.80. The company has a market capitalization of $1.24 billion, a P/E ratio of 10.21 and a beta of 1.66. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. The stock has a 50-day moving average price of $18.40 and a 200-day moving average price of $21.81.

Safehold (NYSE:SAFE) last announced its earnings results on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Safehold had a net margin of 32.08% and a return on equity of 4.79%. During the same period in the previous year, the business posted $0.36 EPS. Analysts expect that Safehold will post 1.57 EPS for the current year.

Institutional Trading of Safehold

A number of institutional investors have recently made changes to their positions in the business. State Street Corp grew its stake in shares of 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 buying an additional 51,035 shares in the last quarter. Geode Capital Management LLC raised its stake in Safehold by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock valued at $32,734,000 after acquiring an additional 38,074 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Safehold by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after purchasing an additional 39,320 shares during the last quarter. JPMorgan Chase & Co. raised its position in shares of Safehold by 16.1% in the third quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company’s stock valued at $17,369,000 after purchasing an additional 91,965 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Safehold by 1.7% during the 4th quarter. Bank of New York Mellon Corp now owns 435,784 shares of the company’s stock worth $8,053,000 after buying an additional 7,437 shares during the period. Institutional investors own 70.38% of the company’s stock.

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.