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

Safehold (NYSE:SAFE)‘s stock had its “market outperform” rating restated by analysts at JMP Securities in a research note issued on Thursday,Benzinga reports. They presently have a $35.00 price target on the stock. JMP Securities’ target price points to a potential upside of 101.38% from the company’s current price.

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 report on Thursday, October 31st. Morgan Stanley downgraded Safehold from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $30.00 to $19.00 in a report on Wednesday, January 15th. The Goldman Sachs Group cut their price target on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Wedbush reaffirmed a “neutral” rating and issued a $23.00 price objective (down from $25.00) on shares of Safehold in a research note on Monday, November 4th. Finally, Royal Bank of Canada upped their price target on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Safehold currently has an average rating of “Hold” and a consensus price target of $26.00.

Safehold Stock Up 5.0 %

SAFE stock traded up $0.83 during midday trading on Thursday, hitting $17.38. The stock had a trading volume of 119,728 shares, compared to its average volume of 521,485. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The firm has a market cap of $1.24 billion, a price-to-earnings ratio of 10.21 and a beta of 1.66. Safehold has a 52-week low of $15.55 and a 52-week high of $28.80. The business has a 50-day moving average of $18.40 and a two-hundred day moving average of $21.81.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Safehold had a return on equity of 4.79% and a net margin of 32.08%. During the same quarter in the previous year, the company posted $0.36 EPS. As a group, equities research analysts forecast that Safehold will post 1.57 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Safehold

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SAFE. Smartleaf Asset Management LLC grew its holdings in Safehold by 268.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock worth $26,000 after acquiring an additional 1,020 shares during the period. GAMMA Investing LLC grew its stake in shares of Safehold by 108.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after purchasing an additional 920 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Safehold by 35.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after purchasing an additional 471 shares in the last quarter. KBC Group NV lifted its stake in shares of Safehold by 79.3% in the 3rd quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after purchasing an additional 1,275 shares during the period. Finally, Vestcor Inc acquired a new position in shares of Safehold in the 3rd quarter valued at $110,000. 70.38% of the stock is 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.