Safehold (NYSE:SAFE) PT Lowered to $52.00 at JPMorgan Chase & Co.

Safehold (NYSE:SAFEGet Rating) had its price target reduced by equities researchers at JPMorgan Chase & Co. from $66.00 to $52.00 in a research note issued on Wednesday, The Fly reports. JPMorgan Chase & Co.‘s target price would suggest a potential upside of 20.15% from the stock’s previous close.

Several other analysts have also commented on SAFE. TheStreet lowered shares of Safehold from a “b-” rating to a “c+” rating in a report on Monday, April 18th. Zacks Investment Research lowered shares of Safehold from a “hold” rating to a “sell” rating in a research note on Friday, April 22nd. Truist Financial cut their price objective on shares of Safehold from $68.00 to $46.00 and set a “na” rating on the stock in a report on Monday. B. Riley lowered their target price on shares of Safehold from $110.00 to $80.00 in a report on Tuesday, April 26th. Finally, Morgan Stanley dropped their price target on Safehold from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 15th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Safehold presently has a consensus rating of “Hold” and a consensus target price of $79.00.

SAFE opened at $43.28 on Wednesday. The stock’s 50 day moving average price is $50.31 and its 200-day moving average price is $62.26. Safehold has a 52-week low of $40.21 and a 52-week high of $95.29. The stock has a market capitalization of $2.68 billion, a PE ratio of 29.44 and a beta of 0.07.

Safehold (NYSE:SAFEGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. Safehold had a net margin of 39.77% and a return on equity of 4.78%. The business had revenue of $60.40 million for the quarter, compared to the consensus estimate of $59.38 million. During the same period in the previous year, the firm earned $0.32 EPS. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. As a group, analysts forecast that Safehold will post 1.76 earnings per share for the current fiscal year.

In other news, major shareholder Istar Inc. purchased 3,240,000 shares of the business’s stock in a transaction dated Monday, March 7th. The shares were purchased at an average price of $59.00 per share, for a total transaction of $191,160,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.56% of the company’s stock.

Several large investors have recently made changes to their positions in SAFE. NewEdge Wealth LLC boosted its position in shares of Safehold by 154.9% during the third quarter. NewEdge Wealth LLC now owns 1,277,803 shares of the company’s stock valued at $91,861,000 after buying an additional 776,597 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Safehold by 14.0% during the 4th quarter. BlackRock Inc. now owns 2,859,230 shares of the company’s stock valued at $228,309,000 after acquiring an additional 351,663 shares during the last quarter. Hood River Capital Management LLC purchased a new stake in shares of Safehold during the 3rd quarter valued at about $16,143,000. State Street Corp grew its stake in shares of Safehold by 21.5% in the first quarter. State Street Corp now owns 982,513 shares of the company’s stock worth $54,645,000 after acquiring an additional 173,541 shares during the period. Finally, Norges Bank purchased a new position in shares of Safehold during the fourth quarter valued at approximately $13,545,000. 25.61% of the stock is currently owned by hedge funds and other institutional investors.

Safehold Company Profile (Get Rating)

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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

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