Safehold (NYSE:SAFE) Upgraded to Outperform at Raymond James

Safehold (NYSE:SAFE) was upgraded by equities research analysts at Raymond James from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Thursday, Marketbeat.com reports. The firm presently has a $34.00 price target on the stock. Raymond James’ price objective points to a potential upside of 22.17% from the company’s previous close.

A number of other analysts have also recently commented on SAFE. Wedbush lifted their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Truist Financial lifted their target price on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group upped their target price on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $28.56.

Safehold Stock Performance

Shares of Safehold stock opened at $27.83 on Thursday. The company has a market capitalization of $1.99 billion, a PE ratio of -61.84 and a beta of 1.65. The company has a 50-day simple moving average of $23.80 and a two-hundred day simple moving average of $20.95. Safehold has a one year low of $15.00 and a one year high of $28.40. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.41 EPS for the quarter, topping the consensus estimate of $0.38 by $0.03. The firm had revenue of $89.90 million during the quarter, compared to analyst estimates of $87.28 million. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. Safehold’s revenue was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.35 EPS. Research analysts expect that Safehold will post 1.59 EPS for the current fiscal year.

Institutional Investors Weigh In On Safehold

Hedge funds and other institutional investors have recently made changes to their positions in the company. ProShare Advisors LLC boosted its holdings in Safehold by 7.5% during the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after buying an additional 676 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Safehold by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock worth $44,000 after acquiring an additional 702 shares in the last quarter. Daiwa Securities Group Inc. grew its position 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 acquiring an additional 949 shares during the period. Illinois Municipal Retirement Fund increased its stake in shares of Safehold by 4.7% in 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 in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Safehold by 2.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 50,800 shares of the company’s stock worth $1,189,000 after purchasing an additional 1,300 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.