Safehold (NYSE:SAFE) Earns Market Outperform Rating from JMP Securities

Safehold (NYSE:SAFE)‘s stock had its “market outperform” rating reissued by equities research analysts at JMP Securities in a research report issued on Tuesday, Benzinga reports. They presently have a $35.00 target price on the stock. JMP Securities’ target price suggests a potential upside of 81.54% from the company’s current price.

A number of other research analysts have also recently issued reports on SAFE. Royal Bank of Canada decreased their price target on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Mizuho reduced their target price on Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. JPMorgan Chase & Co. dropped their price target on Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Finally, The Goldman Sachs Group increased their price objective on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Three investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $27.44.

Safehold Trading Down 2.6 %

Shares of NYSE:SAFE opened at $19.28 on Tuesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 36.61 and a quick ratio of 36.61. The firm has a market capitalization of $1.37 billion, a P/E ratio of -42.84 and a beta of 1.48. The business’s 50-day moving average is $19.68 and its 200 day moving average is $20.09. Safehold has a 1 year low of $15.00 and a 1 year high of $29.11.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, May 6th. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.04. The firm had revenue of $93.20 million for the quarter, compared to the consensus estimate of $88.20 million. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.41 earnings per share. On average, research analysts predict that Safehold will post 1.53 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Fifth Third Bancorp boosted its position in Safehold by 1,240.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,394 shares of the company’s stock worth $25,000 after purchasing an additional 1,290 shares in the last quarter. Versant Capital Management Inc boosted its holdings in Safehold by 197.7% during the fourth quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock worth $33,000 after buying an additional 931 shares in the last quarter. GAMMA Investing LLC acquired a new stake in Safehold during the fourth quarter valued at $33,000. Roble Belko & Company Inc purchased a new position in Safehold in the first quarter valued at $45,000. Finally, PNC Financial Services Group Inc. raised its position in shares of Safehold by 195.8% in the third quarter. PNC Financial Services Group Inc. now owns 4,523 shares of the company’s stock worth $81,000 after acquiring an additional 2,994 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

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.