Mizuho Issues Pessimistic Forecast for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE) had its price objective decreased by equities researchers at Mizuho from $16.00 to $14.00 in a note issued to investors on Thursday, Benzinga reports. The brokerage presently has a “neutral” rating on the stock. Mizuho’s price target indicates a potential upside of 1.41% from the stock’s previous close.

A number of other research analysts also recently issued reports on SAFE. Cantor Fitzgerald restated a “neutral” rating on shares of Safehold in a research note on Tuesday, August 4th. Raymond James Financial started coverage on shares of Safehold in a research report on Wednesday, August 19th. They set a “market perform” rating for the company. Weiss Ratings raised shares of Safehold from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Zacks Research raised Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $16.83.

Safehold Stock Performance

Shares of Safehold stock opened at $13.80 on Thursday. The company has a market cap of $977.67 million, a PE ratio of 8.53, a price-to-earnings-growth ratio of 4.11 and a beta of 1.73. The business has a 50 day moving average price of $15.63 and a 200-day moving average price of $15.28. Safehold has a 52 week low of $12.76 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 announced its earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. Safehold had a net margin of 27.70% and a return on equity of 4.76%. The company had revenue of $114.65 million during the quarter, compared to the consensus estimate of $110.78 million. Equities analysts anticipate that Safehold will post 1.64 earnings per share for the current fiscal year.

Insider Buying and Selling at Safehold

In related news, Director Robin Josephs sold 9,500 shares of the firm’s stock in a transaction that occurred on Wednesday, September 9th. The shares were 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 of the company’s stock, valued at $1,296,830.08. This trade represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Company insiders own 3.80% of the company’s stock.

Hedge Funds Weigh In On Safehold

A number of institutional investors have recently made changes to their positions in the stock. BlackRock Inc. raised 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 valued at $156,036,000 after buying an additional 200,628 shares in the last quarter. NewEdge Wealth LLC purchased a new position in Safehold in the second quarter worth $10,529,000. Bank of New York Mellon Corp increased its stake 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 acquiring an additional 16,016 shares during the last quarter. Bank of America Corp DE bought a new position in Safehold in the second quarter valued at $5,153,000. Finally, Denali Advisors LLC purchased a new stake in Safehold during the second quarter valued at about $4,861,000. Institutional investors own 70.38% of the company’s stock.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning and managing ground leases. Through its ground lease structure, Safehold acquires the land beneath commercial real estate properties and leases it to property owners under long-term agreements, allowing those owners to retain ownership of and operate the buildings on the sites.

The company’s ground lease investments support a range of property types, including multifamily housing, office buildings, hotels, life sciences facilities, student housing, industrial properties and retail assets.