Safehold (NYSE:SAFE) Price Target Increased to $29.00 by Analysts at The Goldman Sachs Group

Safehold (NYSE:SAFE) had its price objective boosted by equities researchers at The Goldman Sachs Group from $25.00 to $29.00 in a research note issued to investors on Friday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target suggests a potential upside of 50.34% from the company’s current price.

A number of other research analysts have also issued reports on the company. JMP Securities reiterated a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research report on Thursday, May 16th. Royal Bank of Canada decreased their price objective on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. JPMorgan Chase & Co. dropped their target price on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, Mizuho downgraded shares of Safehold from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $20.00 in a research report on Friday, May 10th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Safehold presently has an average rating of “Moderate Buy” and an average price target of $27.22.

Safehold Trading Up 1.7 %

SAFE stock opened at $19.29 on Friday. Safehold has a 52-week low of $15.00 and a 52-week high of $26.33. The company has a quick ratio of 42.51, a current ratio of 42.51 and a debt-to-equity ratio of 1.78. The firm has a market cap of $1.38 billion, a P/E ratio of -42.87 and a beta of 1.66. The company’s 50-day simple moving average is $19.16 and its 200-day simple moving average is $20.28.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Monday, May 6th. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Safehold had a positive return on equity of 4.43% and a negative net margin of 7.87%. The company had revenue of $93.20 million during the quarter, compared to analysts’ expectations of $88.20 million. During the same quarter in the prior year, the firm posted $0.41 EPS. Safehold’s quarterly revenue was up 19.0% compared to the same quarter last year. As a group, equities analysts forecast that Safehold will post 1.53 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SAFE. Rhumbline Advisers increased its holdings in shares of Safehold by 8.7% in the third quarter. Rhumbline Advisers now owns 158,136 shares of the company’s stock valued at $2,815,000 after purchasing an additional 12,605 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in Safehold by 195.8% during the third quarter. PNC Financial Services Group Inc. now owns 4,523 shares of the company’s stock worth $81,000 after buying an additional 2,994 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Safehold by 27.3% in the 3rd quarter. Hsbc Holdings PLC now owns 20,210 shares of the company’s stock valued at $360,000 after buying an additional 4,336 shares in the last quarter. Natixis Advisors L.P. acquired a new stake in shares of Safehold in the 3rd quarter worth $223,000. Finally, MSD Partners L.P. increased its stake in shares of Safehold by 11.1% in the 3rd quarter. MSD Partners L.P. now owns 222,644 shares of the company’s stock worth $3,963,000 after acquiring an additional 22,244 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

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.