JPMorgan Chase & Co. Cuts Safehold (NYSE:SAFE) Price Target to $21.00

Safehold (NYSE:SAFE) had its price objective decreased by JPMorgan Chase & Co. from $23.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price objective would indicate a potential upside of 14.13% from the company’s current price.

A number of other equities analysts have also recently commented on SAFE. JMP Securities started coverage on shares of Safehold in a research note on Tuesday, January 23rd. They set an “outperform” rating and a $35.00 price target for the company. Jefferies Financial Group began coverage on Safehold in a research report on Thursday, January 4th. They set a “buy” rating and a $33.00 target price on the stock. Royal Bank of Canada decreased their target price on Safehold from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. The Goldman Sachs Group increased their price objective on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Mizuho cut their target price on Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, Safehold presently has an average rating of “Moderate Buy” and an average price target of $28.40.

Safehold Trading Up 1.7 %

Shares of NYSE:SAFE traded up $0.31 during midday trading on Wednesday, hitting $18.40. 327,755 shares of the stock traded hands, compared to its average volume of 352,584. The stock has a market capitalization of $1.31 billion, a PE ratio of -22.63 and a beta of 1.46. The business’s 50 day moving average is $20.21 and its two-hundred day moving average is $19.85. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78. Safehold has a one year low of $15.00 and a one year high of $30.00.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, February 12th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The firm had revenue of $103.00 million for the quarter, compared to analysts’ expectations of $84.89 million. During the same quarter in the prior year, the company posted ($6.00) earnings per share. The business’s revenue for the quarter was up 40.3% on a year-over-year basis. As a group, research analysts forecast that Safehold will post 1.52 earnings per share for the current year.

Institutional Trading of Safehold

Several institutional investors and hedge funds have recently made changes to their positions in the stock. BlackRock Inc. boosted its holdings in Safehold by 51.4% in the first quarter. BlackRock Inc. now owns 7,325,064 shares of the company’s stock valued at $211,511,000 after purchasing an additional 2,487,183 shares during the last quarter. UBS Group AG lifted its holdings in shares of Safehold by 1,002.8% in the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock worth $51,625,000 after purchasing an additional 2,006,133 shares during the last quarter. Bluefin Capital Management LLC acquired a new stake in Safehold in the 1st quarter valued at approximately $10,264,000. Aew Capital Management L P acquired a new stake in Safehold in the 4th quarter valued at approximately $25,605,000. Finally, Vanguard Group Inc. increased its position in Safehold by 11.8% in the 3rd quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock valued at $137,234,000 after acquiring an additional 816,033 shares during the period. 70.38% of the stock is currently 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.