Safehold (NYSE:SAFE) Price Target Lowered to $30.00 at The Goldman Sachs Group

Safehold (NYSE:SAFE) had its price target reduced by equities researchers at The Goldman Sachs Group from $38.00 to $30.00 in a research note issued on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s price target points to a potential upside of 43.47% from the company’s previous close.

A number of other research analysts also recently issued reports on the stock. JMP Securities restated a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research report on Tuesday. Royal Bank of Canada boosted their price target 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 target on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Wedbush boosted their price target on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, Safehold has a consensus rating of “Moderate Buy” and a consensus price target of $28.44.

Safehold Trading Down 1.7 %

SAFE traded down $0.37 during trading on Friday, reaching $20.91. 176,592 shares of the company’s stock were exchanged, compared to its average volume of 343,771. Safehold has a one year low of $16.14 and a one year high of $28.80. The company has a current ratio of 37.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $1.49 billion, a PE ratio of 12.32 and a beta of 1.66. The firm has a fifty day moving average price of $25.13 and a two-hundred day moving average price of $21.94.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. During the same period in the previous year, the firm posted $0.33 EPS. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities research analysts forecast that Safehold will post 1.58 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in shares of Safehold by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after acquiring an additional 141,245 shares in the last quarter. Long Pond Capital LP grew its stake in shares of Safehold by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after acquiring an additional 345,661 shares in the last quarter. Sei Investments Co. grew its position in Safehold by 3.2% during the second quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock valued at $12,926,000 after buying an additional 20,483 shares during the period. Bank of New York Mellon Corp grew its position in Safehold by 7.9% during the second quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock valued at $9,080,000 after buying an additional 34,404 shares during the period. Finally, Peregrine Capital Management LLC grew its position in Safehold by 10.0% during the second quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock valued at $7,443,000 after buying an additional 35,046 shares during the period. Institutional investors and hedge funds 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.