Cantor Fitzgerald Initiates Coverage on Safehold (NYSE:SAFE)

Equities researchers at Cantor Fitzgerald assumed coverage on shares of Safehold (NYSE:SAFE) in a report released on Wednesday, MarketBeat.com reports. The brokerage set a “neutral” rating and a $17.00 price target on the stock. Cantor Fitzgerald’s target price suggests a potential upside of 10.20% from the stock’s current price.

A number of other equities analysts also recently weighed in on SAFE. Truist Financial cut their target price on Safehold from $18.00 to $16.00 and set a “hold” rating on the stock in a research note on Thursday, September 11th. Mizuho boosted their target price on Safehold from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. cut their target price on Safehold from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. Finally, JMP Securities cut their target price on Safehold from $32.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 12th. Three equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $19.89.

Safehold Price Performance

Shares of NYSE SAFE opened at $15.43 on Wednesday. Safehold has a twelve month low of $13.43 and a twelve month high of $26.13. The stock’s 50 day moving average price is $15.51 and its 200-day moving average price is $15.68. The company has a market capitalization of $1.11 billion, a PE ratio of 10.79, a PEG ratio of 1.40 and a beta of 1.85. The company has a quick ratio of 36.02, a current ratio of 36.02 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE) last announced its earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.39. Safehold had a return on equity of 4.70% and a net margin of 27.45%.The firm had revenue of $93.84 million for the quarter, compared to the consensus estimate of $94.05 million. During the same quarter in the previous year, the business earned $0.41 EPS. The company’s revenue was up 4.3% compared to the same quarter last year. On average, equities analysts anticipate that Safehold will post 1.58 EPS for the current year.

Institutional Investors Weigh In On Safehold

A number of hedge funds and other institutional investors have recently bought and sold shares of SAFE. Hantz Financial Services Inc. raised its holdings in Safehold by 928.2% during the 2nd quarter. Hantz Financial Services Inc. now owns 1,861 shares of the company’s stock valued at $29,000 after acquiring an additional 1,680 shares during the period. US Bancorp DE raised its holdings in Safehold by 136.4% during the 1st quarter. US Bancorp DE now owns 2,215 shares of the company’s stock valued at $41,000 after acquiring an additional 1,278 shares during the period. Versant Capital Management Inc raised its holdings in Safehold by 73.9% during the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company’s stock valued at $44,000 after acquiring an additional 1,010 shares during the period. Russell Investments Group Ltd. raised its holdings in Safehold by 115.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,344 shares of the company’s stock valued at $52,000 after acquiring an additional 1,789 shares during the period. Finally, GAMMA Investing LLC raised its holdings in Safehold by 117.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,923 shares of the company’s stock valued at $61,000 after acquiring an additional 2,117 shares during the period. Institutional investors 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.