Royal Bank Of Canada Issues Pessimistic Forecast for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE) had its price target cut by equities researchers at Royal Bank Of Canada from $13.00 to $12.00 in a research report issued to clients and investors on Wednesday, Benzinga reports. The brokerage currently has a “sector perform” rating on the stock. Royal Bank Of Canada‘s target price suggests a potential upside of 9.64% from the stock’s current price.

A number of other analysts have also issued reports on the company. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of Safehold in a report on Tuesday, August 4th. JPMorgan Chase & Co. lowered Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 price target for the company. in a report on Thursday, September 24th. Citizens Jmp lowered Safehold from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 14th. Zacks Research raised Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Morgan Stanley set a $12.00 price target on shares of Safehold and gave the company an “equal weight” rating in a report on Monday, October 26th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $14.00.

Safehold Stock Performance

SAFE stock traded down $0.28 during mid-day trading on Wednesday, reaching $10.95. 288,994 shares of the stock traded hands, compared to its average volume of 417,306. The firm has a market capitalization of $775.12 million, a PE ratio of 6.76, a P/E/G ratio of 3.45 and a beta of 1.82. The business has a 50-day moving average of $12.82 and a two-hundred day moving average of $14.68. Safehold has a 52 week low of $10.61 and a 52 week high of $17.45. The company has a quick ratio of 34.36, a current ratio of 34.37 and a debt-to-equity ratio of 1.77.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Tuesday, November 3rd. The company reported $0.41 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.02). Safehold had a return on equity of 4.76% and a net margin of 27.70%. The business had revenue of $118.68 million during the quarter, compared to the consensus estimate of $117.38 million. As a group, equities analysts predict that Safehold will post 1.64 EPS for the current fiscal year.

Insider Buying and Selling at Safehold

In other news, Director Robin Josephs sold 9,500 shares of the company’s stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $14.56, for a total value of $138,320.00. Following the sale, the director directly owned 89,068 shares in the company, valued at approximately $1,296,830.08. This represents a 9.64% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in SAFE. BlackRock Inc. increased its position in shares of Safehold by 2.1% during the 2nd quarter. BlackRock Inc. now owns 9,938,575 shares of the company’s stock worth $156,036,000 after purchasing an additional 200,628 shares in the last quarter. NewEdge Wealth LLC bought a new position in Safehold during the 2nd quarter valued at about $10,529,000. Bank of New York Mellon Corp boosted its position in Safehold by 4.0% in the second quarter. Bank of New York Mellon Corp now owns 411,971 shares of the company’s stock valued at $6,468,000 after buying an additional 16,016 shares in the last quarter. Bank of America Corp DE acquired a new position in Safehold in the second quarter valued at about $5,153,000. Finally, Denali Advisors LLC acquired a new position in Safehold in the second quarter valued at about $4,861,000. 70.38% of the stock is owned by institutional investors.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust that owns and manages ground leases for commercial, multifamily, and other income-producing properties. Under a ground lease, Safehold owns the land beneath a building while the property owner leases the land for a long term and retains ownership of the improvements on it.

The company’s business model is designed to provide property owners with access to capital while allowing them to maintain control of their buildings. Safehold’s ground lease investments are generally structured as long-duration leases that can support the development, acquisition, refinancing, or recapitalization of real estate assets.