Safehold (NYSE:SAFE) Price Target Raised to $25.00

Safehold (NYSE:SAFE) had its price target lifted by equities researchers at Mizuho from $20.00 to $25.00 in a research note issued to investors on Thursday, Benzinga reports. The firm currently has a “neutral” rating on the stock. Mizuho’s target price would indicate a potential upside of 20.77% from the company’s previous close.

A number of other research firms have also commented on SAFE. Truist Financial increased their price objective on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, August 5th. JMP Securities reiterated a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Tuesday. Wedbush boosted 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 Wednesday, July 31st. Royal Bank of Canada raised their target price on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday. Finally, Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, Safehold presently has an average rating of “Moderate Buy” and a consensus target price of $28.44.

Safehold Price Performance

Safehold stock opened at $20.70 on Thursday. Safehold has a 52 week low of $16.14 and a 52 week high of $28.80. The firm has a market capitalization of $1.48 billion, a PE ratio of 12.18 and a beta of 1.66. The company has a quick ratio of 38.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. The firm’s 50-day simple moving average is $25.07 and its 200 day simple moving average is $21.94.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $90.70 million during the quarter, compared to the consensus estimate of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.33 EPS. On average, equities research analysts predict that Safehold will post 1.58 EPS for the current fiscal year.

Institutional Investors Weigh In On Safehold

A number of institutional investors have recently modified their holdings of SAFE. Vanguard Group Inc. lifted its holdings in Safehold by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after buying an additional 141,245 shares during the last quarter. Long Pond Capital LP lifted its stake in Safehold by 14.9% during the second 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 last quarter. Sei Investments Co. boosted its holdings in Safehold by 3.2% in the second quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock worth $12,926,000 after purchasing an additional 20,483 shares during the period. Bank of New York Mellon Corp increased its stake in Safehold by 7.9% during the second quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock valued at $9,080,000 after purchasing an additional 34,404 shares during the last quarter. Finally, Peregrine Capital Management LLC raised its holdings in shares of Safehold by 10.0% during the second quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock worth $7,443,000 after purchasing an additional 35,046 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

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.