Safehold (NYSE:SAFE) Earns Market Outperform Rating from JMP Securities

Safehold (NYSE:SAFE)‘s stock had its “market outperform” rating restated by equities research analysts at JMP Securities in a report released on Tuesday, Benzinga reports. They presently have a $35.00 price target on the stock. JMP Securities’ target price indicates a potential upside of 57.87% from the stock’s previous close.

SAFE has been the subject of several other research reports. The Goldman Sachs Group raised their price objective on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Truist Financial raised their price objective on 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 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 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. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.78.

Safehold Stock Performance

NYSE:SAFE opened at $22.17 on Tuesday. The stock has a market cap of $1.58 billion, a P/E ratio of -49.27 and a beta of 1.66. The firm’s fifty day simple moving average is $25.16 and its 200 day simple moving average is $21.94. Safehold has a twelve month low of $15.35 and a twelve month high of $28.80. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. The business had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The firm’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.33 earnings per share. As a group, research analysts predict that Safehold will post 1.59 EPS for the current year.

Institutional Investors Weigh In On Safehold

Large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its holdings in Safehold by 1.8% in 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 in the last quarter. Sei Investments Co. increased its holdings in 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 buying an additional 249,500 shares in the last quarter. Edgestream Partners L.P. bought a new stake in shares of Safehold during the 1st quarter valued at about $4,400,000. SG Americas Securities LLC bought a new stake in shares of Safehold during the 1st quarter valued at about $1,979,000. Finally, Angeles Wealth Management LLC bought a new stake in shares of Safehold during the 2nd quarter valued at about $585,000. 70.38% of the stock is currently owned by 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.