Royal Bank Of Canada Issues Pessimistic Forecast for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE – Get Free Report) had its price objective cut by investment analysts at Royal Bank Of Canada from $13.00 to $12.00 in a report issued on Wednesday, Benzinga reports. The firm presently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s target price suggests a potential upside of 9.64% from the company’s current price.

A number of other equities research analysts also recently issued reports on SAFE. UBS Group downgraded shares of Safehold to a “market perform” rating in a research report on Wednesday, October 14th. The Goldman Sachs Group restated a “buy” rating and set a $19.00 price target on shares of Safehold in a report on Wednesday, October 21st. Citizens Jmp downgraded shares of Safehold from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 14th. JPMorgan Chase & Co. lowered Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 price objective for the company. in a report on Thursday, September 24th. Finally, Truist Financial cut their price objective on Safehold from $17.00 to $13.00 and set a “hold” rating for the company in a report on Monday, September 28th. Two research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $14.00.

View Our Latest Analysis on SAFE

Safehold Stock Down 2.5%

NYSE:SAFE traded down $0.28 on Wednesday, hitting $10.95. 288,994 shares of the company’s stock traded hands, compared to its average volume of 417,306. The company has a market cap of $775.12 million, a PE ratio of 6.76, a price-to-earnings-growth ratio of 3.45 and a beta of 1.82. Safehold has a 1 year low of $10.61 and a 1 year high of $17.45. The company has a current ratio of 34.37, a quick ratio of 34.36 and a debt-to-equity ratio of 1.77. The firm has a 50-day moving average price of $12.82 and a 200-day moving average price of $14.68.

Safehold (NYSE:SAFE – Get Free Report) last posted its quarterly earnings results on Tuesday, November 3rd. The company reported $0.41 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). The company had revenue of $118.68 million during the quarter, compared to analysts’ expectations of $117.38 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. Equities analysts anticipate that Safehold will post 1.64 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Robin Josephs sold 9,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total transaction of $138,320.00. Following the transaction, the director owned 89,068 shares of the company’s stock, valued at approximately $1,296,830.08. This trade represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 3.80% of the company’s stock.

Institutional Trading of Safehold

Several large investors have recently added to or reduced their stakes in the business. Hollow Brook Wealth Management LLC bought a new stake in Safehold during the third quarter worth approximately $261,000. Asset Management One Co. Ltd. raised its position in shares of Safehold by 7.6% in the third quarter. Asset Management One Co. Ltd. now owns 64,417 shares of the company’s stock valued at $758,000 after purchasing an additional 4,546 shares during the period. Signaturefd LLC raised its position in shares of Safehold by 312.6% in the third quarter. Signaturefd LLC now owns 8,429 shares of the company’s stock valued at $99,000 after purchasing an additional 6,386 shares during the period. Sterling Capital Management LLC raised its position in shares of Safehold by 15.7% in the third quarter. Sterling Capital Management LLC now owns 22,579 shares of the company’s stock valued at $266,000 after purchasing an additional 3,071 shares during the period. Finally, Inspire Investing LLC acquired a new stake in shares of Safehold in the third quarter worth $36,000. 70.38% of the stock is owned by institutional investors.

Safehold Company Profile

(Get Free Report)

Safehold Inc (NYSE: SAFE) is a real estate investment trust that owns and manages ground leases for commercial, multifamily, and other income-producing properties. Under a ground lease, Safehold owns the land beneath a building while the property owner leases the land for a long term and retains ownership of the improvements on it.

The company’s business model is designed to provide property owners with access to capital while allowing them to maintain control of their buildings. Safehold’s ground lease investments are generally structured as long-duration leases that can support the development, acquisition, refinancing, or recapitalization of real estate assets.

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Analyst Recommendations for Safehold (NYSE:SAFE)

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