Mizuho Raises Safehold (NYSE:SAFE) Price Target to $16.00

Safehold (NYSE:SAFE) had its price target upped by equities research analysts at Mizuho from $15.00 to $16.00 in a report issued on Wednesday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective suggests a potential upside of 8.73% from the company’s current price.

SAFE has been the subject of several other reports. Citigroup restated a “market outperform” rating on shares of Safehold in a research note on Monday, December 1st. The Goldman Sachs Group reiterated a “buy” rating on shares of Safehold in a research report on Saturday, November 22nd. Zacks Research raised Safehold from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Safehold in a research note on Thursday, January 22nd. Finally, Truist Financial lifted their price objective on Safehold from $16.00 to $17.00 and gave the company a “hold” rating in a research report on Wednesday, February 18th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $19.33.

Safehold Stock Performance

SAFE opened at $14.72 on Wednesday. The company’s 50 day moving average is $15.02 and its 200 day moving average is $14.84. The company has a current ratio of 34.97, a quick ratio of 34.97 and a debt-to-equity ratio of 1.88. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 9.20, a PEG ratio of 2.05 and a beta of 1.80. Safehold has a 12-month low of $12.76 and a 12-month high of $19.32.

Safehold (NYSE:SAFE) last announced its earnings results on Wednesday, February 11th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $97.87 million during the quarter, compared to analysts’ expectations of $96.71 million. Safehold had a net margin of 29.69% and a return on equity of 4.92%. On average, equities research analysts predict that Safehold will post 1.58 EPS for the current year.

Institutional Investors Weigh In On Safehold

A number of institutional investors have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in shares of Safehold by 21.1% in the first quarter. Royal Bank of Canada now owns 44,462 shares of the company’s stock valued at $833,000 after acquiring an additional 7,743 shares in the last quarter. Amundi raised its stake in Safehold by 2.6% during the 1st quarter. Amundi now owns 50,855 shares of the company’s stock valued at $906,000 after purchasing an additional 1,306 shares during the period. AQR Capital Management LLC raised its stake in Safehold by 1,106.2% during the 1st quarter. AQR Capital Management LLC now owns 195,530 shares of the company’s stock valued at $3,660,000 after purchasing an additional 179,319 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Safehold by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company’s stock worth $576,000 after purchasing an additional 1,308 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in Safehold by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company’s stock worth $8,120,000 after purchasing an additional 15,280 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Company Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.