The Goldman Sachs Group Lowers Safehold (NYSE:SAFE) Price Target to $30.00

Safehold (NYSE:SAFE) had its target price decreased by The Goldman Sachs Group from $38.00 to $30.00 in a note issued to investors on Friday, Benzinga reports. The brokerage presently has a “buy” rating on the stock. The Goldman Sachs Group’s target price would indicate a potential upside of 43.47% from the stock’s previous close.

SAFE has been the subject of a number of other research reports. Mizuho lifted their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday. JMP Securities reissued a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a research report on Tuesday. Truist Financial lifted their price objective on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Thursday, September 19th. Finally, Wedbush raised their target price on shares of Safehold from $20.00 to $25.00 and gave the stock 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’s stock. Based on data from MarketBeat, Safehold has an average rating of “Moderate Buy” and an average target price of $28.44.

Safehold Stock Down 1.7 %

Safehold stock traded down $0.37 during mid-day trading on Friday, reaching $20.91. The company’s stock had a trading volume of 176,592 shares, compared to its average volume of 343,771. The company has a market capitalization of $1.49 billion, a price-to-earnings ratio of 12.32 and a beta of 1.66. Safehold has a 12 month low of $16.14 and a 12 month high of $28.80. The business’s 50 day simple moving average is $25.13 and its 200 day simple moving average is $21.94. The company has a debt-to-equity ratio of 1.85, a quick ratio of 38.83 and a current ratio of 37.83.

Safehold (NYSE:SAFE) last released its earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The business had revenue of $90.70 million during the quarter, compared to the consensus estimate of $89.45 million. During the same quarter last year, the firm earned $0.33 earnings per share. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, research analysts anticipate that Safehold will post 1.58 earnings per share for the current year.

Institutional Trading of Safehold

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Safehold by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after buying an additional 471 shares in the last quarter. ProShare Advisors LLC grew its holdings in shares of Safehold by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after purchasing an additional 676 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Safehold by 108.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after purchasing an additional 920 shares during the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Safehold by 7.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock valued at $298,000 after purchasing an additional 949 shares during the last quarter. Finally, Illinois Municipal Retirement Fund grew its holdings in shares of Safehold by 4.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company’s stock valued at $529,000 after purchasing an additional 1,156 shares during the last quarter. Institutional investors and hedge funds 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.