The Goldman Sachs Group Issues Pessimistic Forecast for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE) had its target price lowered by research analysts at The Goldman Sachs Group from $38.00 to $30.00 in a research note issued to investors on Friday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s target price indicates a potential upside of 44.93% from the company’s previous close.

Several other equities research analysts also recently weighed in on SAFE. Royal Bank of Canada boosted their target price on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday. Truist Financial boosted their price objective on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Thursday, September 19th. Wedbush boosted their price target on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, Mizuho raised their price objective on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.44.

Safehold Trading Down 2.7 %

Shares of SAFE opened at $20.70 on Friday. Safehold has a one year low of $16.14 and a one year high of $28.80. The stock has a 50-day moving average price of $24.97 and a 200 day moving average price of $21.96. The company has a debt-to-equity ratio of 1.85, a quick ratio of 38.83 and a current ratio of 37.83. The company has a market capitalization of $1.48 billion, a P/E ratio of 12.18 and a beta of 1.66.

Safehold (NYSE:SAFE) last released its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The business’s revenue was up 6.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.33 EPS. Sell-side analysts forecast that Safehold will post 1.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Safehold

Several large investors have recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. grew its position in shares of Safehold by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after acquiring an additional 471 shares during the last quarter. ProShare Advisors LLC boosted its stake in Safehold by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after purchasing an additional 676 shares during the period. GAMMA Investing LLC grew its position in Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after purchasing an additional 920 shares during the last quarter. Daiwa Securities Group Inc. increased its stake in shares of Safehold by 7.0% in the first quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock valued at $298,000 after purchasing an additional 949 shares during the period. Finally, Illinois Municipal Retirement Fund raised its holdings in shares of Safehold by 4.7% during the first quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company’s stock valued at $529,000 after buying an additional 1,156 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Safehold Company Profile

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.