Safehold (NYSE:SAFE) Stock Rating Lowered by Morgan Stanley

Safehold (NYSE:SAFE) was downgraded by analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a report issued on Wednesday, MarketBeat reports. They presently have a $19.00 price objective on the stock, down from their previous price objective of $30.00. Morgan Stanley’s target price would suggest a potential upside of 11.35% from the stock’s current price.

SAFE has been the subject of a number of other research reports. The Goldman Sachs Group reduced their price target on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Mizuho increased their price objective on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. JMP Securities reiterated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Tuesday, October 29th. Royal Bank of Canada boosted their price objective on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wedbush reiterated a “neutral” rating and issued a $23.00 target price (down previously from $25.00) on shares of Safehold in a research report on Monday, November 4th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.00.

Safehold Stock Performance

Shares of NYSE:SAFE opened at $17.06 on Wednesday. The business has a 50-day moving average of $19.59 and a two-hundred day moving average of $22.17. The firm has a market capitalization of $1.22 billion, a PE ratio of 10.04 and a beta of 1.67. Safehold has a 12 month low of $15.55 and a 12 month high of $28.80. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83.

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC increased its stake in shares of Safehold by 108.7% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after acquiring an additional 920 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Safehold by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after purchasing an additional 471 shares during the period. KBC Group NV boosted its holdings in shares of Safehold by 79.3% during the 3rd quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after buying an additional 1,275 shares during the period. Vestcor Inc acquired a new stake in shares of Safehold in the third quarter valued at about $110,000. Finally, FMR LLC increased its position in Safehold by 24.9% in the 3rd quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after buying an additional 1,163 shares during the period. 70.38% of the stock is owned by hedge funds and other institutional investors.

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.