Safehold (NYSE:SAFE) Price Target Raised to $31.00

Safehold (NYSE:SAFE - Get Free Report) had its price objective hoisted by Royal Bank of Canada from $30.00 to $31.00 in a report issued on Wednesday, Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Royal Bank of Canada's price target points to a potential upside of 36.68% from the company's previous close.

Other analysts have also issued reports about the company. Raymond James raised Safehold from a "market perform" rating to an "outperform" rating and set a $34.00 target price on the stock in a research report on Thursday, September 19th. The Goldman Sachs Group lifted their price objective on Safehold from $25.00 to $38.00 and gave the stock a "buy" rating in a report on Wednesday, September 18th. JMP Securities reiterated a "market outperform" rating and set a $35.00 target price on shares of Safehold in a research note on Tuesday. Truist Financial lifted their price target on shares of Safehold from $21.00 to $22.00 and gave the stock a "hold" rating in a research note on Monday, August 5th. Finally, Wedbush increased 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 Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $28.78.

Safehold Trading Up 0.9 %

Shares of NYSE SAFE traded up $0.20 during midday trading on Wednesday, reaching $22.68. 162,536 shares of the stock were exchanged, compared to its average volume of 341,130. The stock has a 50 day moving average price of $25.16 and a 200-day moving average price of $21.94. The company has a current ratio of 38.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.76. Safehold has a 52-week low of $15.35 and a 52-week high of $28.80. The company has a market capitalization of $1.62 billion, a P/E ratio of -50.40 and a beta of 1.66.

Safehold (NYSE:SAFE - Get Free Report) last issued its earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting analysts' consensus estimates of $0.37. The firm had revenue of $90.70 million for the quarter, compared to analysts' expectations of $89.45 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The firm's revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 earnings per share. Equities research analysts expect that Safehold will post 1.59 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its holdings in shares of Safehold by 65.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company's stock worth $175,000 after purchasing an additional 2,965 shares in the last quarter. Daiwa Securities Group Inc. boosted its stake in Safehold by 7.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company's stock worth $298,000 after purchasing an additional 949 shares during the period. SG Americas Securities LLC acquired a new stake in Safehold during the 1st quarter valued at $1,979,000. Illinois Municipal Retirement Fund raised its position in Safehold by 4.7% during the first quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company's stock valued at $529,000 after buying an additional 1,156 shares during the period. Finally, Sei Investments Co. lifted its stake in Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company's stock worth $13,381,000 after acquiring an additional 249,500 shares in the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Safehold Company Profile

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.

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