Safehold (NYSE:SAFE) Rating Increased to Outperform at Raymond James

Safehold (NYSE:SAFE) was upgraded by analysts at Raymond James from a “market perform” rating to an “outperform” rating in a note issued to investors on Thursday, Marketbeat reports. The brokerage currently has a $34.00 price objective on the stock. Raymond James’ price objective points to a potential upside of 26.21% from the stock’s current price.

SAFE has been the topic of several other research reports. The Goldman Sachs Group upped their target price on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday. Truist Financial upped their target price on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Finally, Wedbush increased their price objective on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.56.

Safehold Trading Down 2.0 %

NYSE:SAFE opened at $26.94 on Thursday. The stock has a fifty day moving average price of $23.94 and a two-hundred day moving average price of $21.00. The stock has a market capitalization of $1.92 billion, a price-to-earnings ratio of -59.87 and a beta of 1.65. 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 1 year low of $15.00 and a 1 year high of $28.80.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Monday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. The firm 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 revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.35 earnings per share. As a group, sell-side analysts anticipate that Safehold will post 1.59 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Safehold

Several large investors have recently added to or reduced their stakes in SAFE. UBS Group AG lifted its position in Safehold by 1,002.8% during the fourth quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock worth $51,625,000 after buying an additional 2,006,133 shares during the period. Peregrine Capital Management LLC purchased a new position in shares of Safehold in the 1st quarter worth about $7,227,000. Long Pond Capital LP raised its holdings in shares of Safehold by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after purchasing an additional 345,661 shares during the period. Sei Investments Co. raised its holdings in shares of Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after purchasing an additional 249,500 shares during the period. Finally, Heitman Real Estate Securities LLC purchased a new position in shares of Safehold in the 4th quarter worth about $5,005,000. 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.