The Goldman Sachs Group Lowers Safehold (NYSE:SAFE) Price Target to $25.00

Safehold (NYSE:SAFE) had its price target dropped by analysts at The Goldman Sachs Group from $28.00 to $25.00 in a research report issued on Wednesday,Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective suggests a potential upside of 63.61% from the stock’s current price.

Several other equities research analysts also recently commented on SAFE. Morgan Stanley dropped their target price on Safehold from $19.00 to $17.00 and set an “equal weight” rating on the stock in a report on Tuesday, April 29th. JMP Securities restated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Thursday, February 6th. Wedbush restated a “neutral” rating and set a $20.00 price objective on shares of Safehold in a research note on Monday, March 31st. Finally, Mizuho lowered their price objective on Safehold from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $25.38.

Safehold Stock Up 0.7%

SAFE opened at $15.28 on Wednesday. The company has a quick ratio of 36.59, a current ratio of 36.59 and a debt-to-equity ratio of 1.82. The firm has a market cap of $1.09 billion, a P/E ratio of 10.32 and a beta of 1.86. Safehold has a 52 week low of $13.68 and a 52 week high of $28.80. The business’s fifty day simple moving average is $16.55 and its 200 day simple moving average is $18.03.

Safehold (NYSE:SAFE) last released its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Safehold had a return on equity of 4.76% and a net margin of 28.92%. The firm had revenue of $97.68 million for the quarter, compared to the consensus estimate of $95.55 million. During the same period in the prior year, the business posted $0.43 earnings per share. The firm’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Safehold will post 1.58 EPS for the current fiscal year.

Institutional Trading of Safehold

Hedge funds and other institutional investors have recently modified their holdings of the company. Barclays PLC grew its holdings in shares of Safehold by 317.9% in the 3rd quarter. Barclays PLC now owns 85,932 shares of the company’s stock worth $2,254,000 after acquiring an additional 65,370 shares during the last quarter. SG Americas Securities LLC grew its holdings in shares of Safehold by 265.4% during the fourth quarter. SG Americas Securities LLC now owns 24,071 shares of the company’s stock valued at $445,000 after buying an additional 17,484 shares in the last quarter. abrdn plc grew its holdings in shares of Safehold by 30.6% during the fourth quarter. abrdn plc now owns 13,505 shares of the company’s stock valued at $248,000 after buying an additional 3,166 shares in the last quarter. Farmers & Merchants Investments Inc. grew its holdings in shares of Safehold by 5.4% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 100,335 shares of the company’s stock valued at $1,854,000 after buying an additional 5,133 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Safehold by 1,683.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,750 shares of the company’s stock valued at $4,209,000 after buying an additional 214,979 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

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.