Royal Bank of Canada Lowers Safehold (NYSE:SAFE) Price Target to $29.00

Safehold (NYSE:SAFE) had its price objective decreased by research analysts at Royal Bank of Canada from $32.00 to $29.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the stock. Royal Bank of Canada’s target price indicates a potential upside of 48.95% from the stock’s current price.

SAFE has been the subject of several other reports. JMP Securities reiterated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Tuesday. JPMorgan Chase & Co. reduced their price target on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Mizuho dropped their price objective on shares of Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, March 7th. Finally, The Goldman Sachs Group lifted their target price on shares of Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Three equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat, Safehold presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.44.

Safehold Stock Performance

Safehold stock traded down $0.33 on Wednesday, hitting $19.47. The company’s stock had a trading volume of 141,629 shares, compared to its average volume of 339,171. Safehold has a one year low of $15.00 and a one year high of $29.11. The firm has a market cap of $1.39 billion, a P/E ratio of -23.96 and a beta of 1.48. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78. The company has a fifty day moving average price of $19.69 and a 200-day moving average price of $20.10.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, May 6th. The company reported $0.43 earnings per share for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The business had revenue of $93.20 million for the quarter, compared to analysts’ expectations of $88.20 million. During the same quarter in the previous year, the firm posted $0.41 earnings per share. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities analysts anticipate that Safehold will post 1.53 earnings per share for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SAFE. UBS Group AG raised its position in shares of Safehold by 1,002.8% during the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock valued at $51,625,000 after acquiring an additional 2,006,133 shares during the last quarter. Aew Capital Management L P bought a new stake in shares of Safehold in the fourth quarter valued at about $25,605,000. Vanguard Group Inc. boosted its position in Safehold by 11.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock worth $137,234,000 after acquiring an additional 816,033 shares during the last quarter. Peregrine Capital Management LLC bought a new position in Safehold in the first quarter valued at $7,227,000. Finally, Sei Investments Co. grew its holdings in shares of Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after acquiring an additional 249,500 shares in the last quarter. 70.38% of the stock is currently owned by 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.