JPMorgan Chase & Co. Cuts Safehold (NYSE:SAFE) Price Target to $21.00

Safehold (NYSE:SAFE) had its price target cut by analysts at JPMorgan Chase & Co. from $23.00 to $21.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “neutral” rating on the stock. JPMorgan Chase & Co.‘s price target would indicate a potential upside of 14.13% from the stock’s previous close.

SAFE has been the topic of several other research reports. Jefferies Financial Group started coverage on shares of Safehold in a report on Thursday, January 4th. They issued a “buy” rating and a $33.00 target price on the stock. JMP Securities assumed coverage on shares of Safehold in a research note on Tuesday, January 23rd. They set an “outperform” rating and a $35.00 price target on the stock. Mizuho decreased their price target on shares of Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. The Goldman Sachs Group upped their price target on shares of Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Royal Bank of Canada decreased their price target on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Three investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $28.40.

Safehold Price Performance

Shares of SAFE traded up $0.31 during mid-day trading on Wednesday, reaching $18.40. The stock had a trading volume of 327,755 shares, compared to its average volume of 352,584. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of -22.63 and a beta of 1.46. Safehold has a 12 month low of $15.00 and a 12 month high of $30.00. The business has a fifty day moving average of $20.21 and a 200 day moving average of $19.85. The company has a debt-to-equity ratio of 1.78, a quick ratio of 36.61 and a current ratio of 36.61.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, February 12th. The company reported $0.36 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. The business had revenue of $103.00 million during the quarter, compared to analyst estimates of $84.89 million. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The company’s revenue was up 40.3% on a year-over-year basis. During the same period in the prior year, the business posted ($6.00) earnings per share. Equities analysts predict that Safehold will post 1.52 EPS for the current year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SAFE. Fifth Third Bancorp boosted its holdings in shares of Safehold by 1,240.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,394 shares of the company’s stock valued at $25,000 after buying an additional 1,290 shares in the last quarter. State of Wyoming bought a new stake in shares of Safehold in the 2nd quarter valued at about $25,000. Tower Research Capital LLC TRC boosted its holdings in shares of Safehold by 470.4% in the 3rd quarter. Tower Research Capital LLC TRC now owns 1,717 shares of the company’s stock valued at $31,000 after buying an additional 1,416 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Safehold by 197.7% in the 4th quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock valued at $33,000 after buying an additional 931 shares in the last quarter. Finally, GAMMA Investing LLC bought a new stake in shares of Safehold in the 4th quarter valued at about $33,000. 70.38% of the stock is currently owned by institutional investors.

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.