Wedbush Reaffirms Neutral Rating for Safehold (NYSE:SAFE)

Safehold (NYSE:SAFE)‘s stock had its “neutral” rating reaffirmed by Wedbush in a report released on Monday, RTT News reports. They currently have a $23.00 target price on the stock, down from their prior target price of $25.00. Wedbush’s price target indicates a potential upside of 11.30% from the company’s previous close.

Other equities research analysts also recently issued research reports about the company. Mizuho upped their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada upped their target price on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research note on Tuesday, October 29th. Truist Financial increased their price objective on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group reduced their price objective on shares of Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Safehold has a consensus rating of “Moderate Buy” and a consensus price target of $28.22.

Safehold Trading Down 2.5 %

Shares of SAFE stock opened at $20.67 on Monday. Safehold has a fifty-two week low of $16.27 and a fifty-two week high of $28.80. The company has a 50 day moving average price of $24.88 and a 200 day moving average price of $22.03. The stock has a market capitalization of $1.48 billion, a P/E ratio of 12.16 and a beta of 1.68. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The company had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. During the same quarter last year, the company posted $0.33 EPS. The firm’s revenue was up 6.0% compared to the same quarter last year. Equities research analysts predict that Safehold will post 1.57 EPS for the current fiscal year.

Hedge Funds Weigh In On Safehold

Hedge funds have recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after purchasing an additional 920 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of Safehold by 35.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after acquiring an additional 471 shares during the period. ProShare Advisors LLC grew its position in shares of Safehold by 7.5% during the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after acquiring an additional 676 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd acquired a new position in shares of Safehold in the 2nd quarter valued at $204,000. Finally, Quest Partners LLC acquired a new position in shares of Safehold in the 2nd quarter valued at $225,000. Hedge funds and other 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.