Safehold (NYSE:SAFE) Stock Rating Lowered by Morgan Stanley

Safehold (NYSE:SAFE - Get Free Report) was downgraded by equities research analysts at Morgan Stanley from an "overweight" rating to an "equal weight" rating in a report issued on Wednesday, Marketbeat reports. They presently have a $19.00 target price on the stock, down from their prior target price of $30.00. Morgan Stanley's price objective suggests a potential upside of 12.69% from the stock's current price.

Several other equities research analysts have also recently issued reports on the stock. JMP Securities reaffirmed a "market outperform" rating and set a $35.00 price target on shares of Safehold in a research note on Tuesday, October 29th. Wedbush reiterated a "neutral" rating and issued a $23.00 target price (down from $25.00) on shares of Safehold in a research note on Monday, November 4th. Royal Bank of Canada raised their price target on Safehold from $30.00 to $31.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Mizuho upped their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Finally, The Goldman Sachs Group decreased their target price on shares of Safehold from $29.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Five research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, Safehold presently has an average rating of "Hold" and an average target price of $26.00.

Safehold Price Performance

Shares of SAFE stock traded up $0.32 during trading hours on Wednesday, hitting $16.86. The company's stock had a trading volume of 783,308 shares, compared to its average volume of 601,190. The company has a current ratio of 37.83, a quick ratio of 37.83 and a debt-to-equity ratio of 1.85. The business has a fifty day moving average of $19.73 and a 200-day moving average of $22.24. Safehold has a twelve month low of $15.55 and a twelve month high of $28.80. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 9.92 and a beta of 1.67.

Safehold (NYSE:SAFE - Get Free Report) last announced its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting analysts' consensus estimates of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The firm had revenue of $90.70 million for the quarter, compared to analysts' expectations of $89.45 million. During the same quarter in the prior year, the firm earned $0.33 EPS. Safehold's quarterly revenue was up 6.0% on a year-over-year basis. As a group, equities research analysts anticipate that Safehold will post 1.56 EPS for the current year.

Hedge Funds Weigh In On Safehold

Several hedge funds and other institutional investors have recently made changes to their positions in SAFE. Long Pond Capital LP raised its position in Safehold by 14.9% in the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company's stock valued at $51,361,000 after purchasing an additional 345,661 shares during the period. State Street Corp grew its stake in shares of Safehold by 2.0% in the third quarter. State Street Corp now owns 2,618,033 shares of the company's stock valued at $69,131,000 after buying an additional 51,035 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Safehold by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company's stock valued at $32,734,000 after buying an additional 38,074 shares during the period. Charles Schwab Investment Management Inc. lifted its position in Safehold by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company's stock worth $18,039,000 after acquiring an additional 39,320 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in Safehold by 3.2% in the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company's stock worth $12,926,000 after acquiring an additional 20,483 shares during the period. Institutional investors and hedge funds own 70.38% of the company's stock.

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.