Safehold (NYSE:SAFE) Earns "Neutral" Rating from Wedbush

Safehold (NYSE:SAFE - Get Free Report)'s stock had its "neutral" rating reaffirmed by stock analysts at Wedbush in a research report issued on Monday, RTT News reports. They currently have a $23.00 target price on the stock, down from their previous target price of $25.00. Wedbush's price objective indicates a potential upside of 8.54% from the stock's previous close.

Several other equities research analysts have also commented on the stock. Mizuho boosted their price objective on shares of Safehold from $20.00 to $25.00 and gave the stock a "neutral" rating in a research report on Thursday. JMP Securities restated a "market outperform" rating and issued a $35.00 target price on shares of Safehold in a report on Tuesday, October 29th. Raymond James raised shares of Safehold from a "market perform" rating to an "outperform" rating and set a $34.00 target price on the stock in a research note on Thursday, September 19th. Truist Financial upped their price target on Safehold from $21.00 to $22.00 and gave the company a "hold" rating in a research report on Monday, August 5th. Finally, The Goldman Sachs Group lowered their target price on Safehold from $38.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $28.22.

Safehold Trading Up 2.4 %

Shares of SAFE traded up $0.49 during midday trading on Monday, reaching $21.19. The company had a trading volume of 630,475 shares, compared to its average volume of 346,590. The firm has a 50 day simple moving average of $24.97 and a 200-day simple moving average of $22.01. The company has a quick ratio of 38.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. The stock has a market cap of $1.51 billion, a PE ratio of 12.46 and a beta of 1.68. Safehold has a 1-year low of $16.27 and a 1-year high of $28.80.

Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The business had revenue of $90.70 million during the quarter, compared to analyst estimates of $89.45 million. During the same period last year, the business posted $0.33 earnings per share. The company's quarterly revenue was up 6.0% on a year-over-year basis. Research analysts forecast that Safehold will post 1.57 EPS for the current fiscal year.

Institutional Trading of Safehold

A number of hedge funds and other institutional investors have recently bought and sold shares of SAFE. GAMMA Investing LLC lifted its holdings in Safehold by 108.7% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company's stock valued at $46,000 after purchasing an additional 920 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its position in Safehold by 35.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company's stock valued at $47,000 after acquiring an additional 471 shares in the last quarter. ProShare Advisors LLC grew 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 buying an additional 676 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Safehold during the 2nd quarter valued at approximately $204,000. Finally, Quest Partners LLC bought a new stake in Safehold during the 2nd quarter valued at about $225,000. Institutional investors 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.