JMP Securities Reiterates “Market Outperform” Rating for Safehold (NYSE:SAFE)

Safehold (NYSE:SAFE)‘s stock had its “market outperform” rating restated by JMP Securities in a report issued on Tuesday, Benzinga reports. They presently have a $35.00 price target on the stock. JMP Securities’ target price indicates a potential upside of 55.21% from the company’s current price.

Other research analysts have also recently issued research reports about the stock. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Thursday, September 19th. Wedbush raised their price objective on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Truist Financial lifted their price target on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group lifted their price target on Safehold from $25.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $28.56.

Safehold Price Performance

NYSE SAFE traded down $0.97 on Tuesday, reaching $22.55. 186,290 shares of the company’s stock traded hands, compared to its average volume of 340,502. Safehold has a 12 month low of $15.35 and a 12 month high of $28.80. The company has a debt-to-equity ratio of 1.76, a current ratio of 38.83 and a quick ratio of 38.83. The stock has a 50-day simple moving average of $25.18 and a 200 day simple moving average of $21.92. The stock has a market cap of $1.61 billion, a PE ratio of -50.07 and a beta of 1.66.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The business had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. During the same period last year, the business earned $0.33 earnings per share. The business’s quarterly revenue was up 6.0% on a year-over-year basis. As a group, research analysts predict 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 made changes to their positions in the stock. Vanguard Group Inc. increased its holdings in shares of Safehold by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock valued at $161,949,000 after purchasing an additional 141,245 shares during the period. Sei Investments Co. grew its stake 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 buying an additional 249,500 shares in the last quarter. Edgestream Partners L.P. acquired a new stake in shares of Safehold in the first quarter valued at $4,400,000. SG Americas Securities LLC acquired a new position in Safehold during the 1st quarter worth $1,979,000. Finally, Angeles Wealth Management LLC acquired a new position in Safehold during the 2nd quarter worth $585,000. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

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.