JMP Securities Reaffirms Market Outperform Rating for Safehold (NYSE:SAFE)

Safehold (NYSE:SAFE - Get Free Report)'s stock had its "market outperform" rating reaffirmed by equities researchers at JMP Securities in a research report issued on Tuesday, Benzinga reports. They presently have a $35.00 price objective on the stock. JMP Securities' price target points to a potential upside of 55.69% from the stock's current price.

A number of other equities research analysts also recently weighed in on SAFE. The Goldman Sachs Group raised their target price on Safehold from $25.00 to $38.00 and gave the company a "buy" rating in a report on Wednesday, September 18th. Wedbush raised their price objective on Safehold from $20.00 to $25.00 and gave the company a "neutral" rating in a report on Wednesday, July 31st. Raymond James raised Safehold from a "market perform" rating to an "outperform" rating and set a $34.00 price objective on the stock in a report on Thursday, September 19th. Finally, Truist Financial raised their price objective on Safehold from $21.00 to $22.00 and gave the company a "hold" rating in a report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Safehold presently has an average rating of "Moderate Buy" and a consensus price target of $28.56.

Safehold Price Performance

Shares of SAFE stock traded down $1.04 during trading hours on Tuesday, reaching $22.48. The company's stock had a trading volume of 496,022 shares, compared to its average volume of 341,984. The firm's 50 day simple moving average is $25.16 and its 200-day simple moving average is $21.94. The company has a market capitalization of $1.61 billion, a price-to-earnings ratio of -49.96 and a beta of 1.66. Safehold has a fifty-two week low of $15.35 and a fifty-two week high of $28.80. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76.

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 the consensus estimate of $89.45 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The company's revenue was up 6.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.33 EPS. Sell-side analysts forecast that Safehold will post 1.59 earnings per share for the current year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. GAMMA Investing LLC raised its position in shares of Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock worth $46,000 after acquiring an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Safehold by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company's stock worth $47,000 after acquiring an additional 471 shares in the last quarter. PNC Financial Services Group Inc. raised its position 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 acquiring an additional 2,965 shares in the last quarter. ProShare Advisors LLC raised its position in shares of Safehold by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company's stock worth $200,000 after acquiring an additional 676 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Safehold in the 2nd quarter worth about $204,000. 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.