Safehold (NYSE:SAFE) Price Target Raised to $38.00

Safehold (NYSE:SAFE) had its price target raised by stock analysts at The Goldman Sachs Group from $25.00 to $38.00 in a research note issued on Wednesday, Benzinga reports. The firm currently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would indicate a potential upside of 39.71% from the company’s previous close.

A number of other equities research analysts have also recently issued reports on SAFE. Wedbush lifted their price target on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Truist Financial increased their price objective on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $27.88.

Safehold Stock Up 2.2 %

SAFE opened at $27.20 on Wednesday. The company has a fifty day moving average of $23.63 and a two-hundred day moving average of $20.90. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83. Safehold has a fifty-two week low of $15.00 and a fifty-two week high of $27.33. The stock has a market capitalization of $1.94 billion, a price-to-earnings ratio of -60.44 and a beta of 1.65.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $87.28 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. Safehold’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. On average, research analysts expect that Safehold will post 1.59 earnings per share for the current year.

Institutional Investors Weigh In On Safehold

A number of hedge funds have recently modified their holdings of SAFE. UBS Group AG grew its stake in Safehold by 1,002.8% during the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock valued at $51,625,000 after acquiring an additional 2,006,133 shares in the last quarter. Peregrine Capital Management LLC purchased a new stake in shares of Safehold in the first quarter valued at approximately $7,227,000. Long Pond Capital LP grew its position in shares of Safehold by 14.9% in the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after purchasing an additional 345,661 shares in the last quarter. Sei Investments Co. increased its holdings in shares of Safehold by 62.4% in the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after purchasing an additional 249,500 shares during the last quarter. Finally, Heitman Real Estate Securities LLC purchased a new position in Safehold during the fourth quarter worth approximately $5,005,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Company Profile

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.