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

Safehold (NYSE:SAFE) had its target price decreased by JPMorgan Chase & Co. from $23.00 to $21.00 in a research note issued to investors on Wednesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the stock.

SAFE has been the topic of a number of other reports. JMP Securities started coverage on Safehold in a report on Tuesday, January 23rd. They set an outperform rating and a $35.00 target price on the stock. Jefferies Financial Group started coverage on shares of Safehold in a research note on Thursday, January 4th. They issued a buy rating and a $33.00 price objective on the stock. The Goldman Sachs Group increased their target price 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. 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 report on Thursday, March 7th. Finally, Royal Bank of Canada cut their price objective on Safehold from $33.00 to $32.00 and set an outperform rating for the company in a research report on Thursday, February 15th. Three research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, Safehold presently has a consensus rating of Moderate Buy and a consensus price target of $28.40.

Safehold Trading Up 2.2 %

Shares of NYSE:SAFE opened at $18.95 on Wednesday. Safehold has a twelve month low of $15.00 and a twelve month high of $29.59. The company has a current ratio of 36.61, a quick ratio of 36.61 and a debt-to-equity ratio of 1.78. The firm has a market cap of $1.35 billion, a P/E ratio of -23.40 and a beta of 1.46. The company has a 50 day moving average of $20.10 and a 200-day moving average of $19.85.

Safehold (NYSE:SAFE) last released its 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. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The firm had revenue of $103.00 million during the quarter, compared to the consensus estimate of $84.89 million. During the same period in the prior year, the firm posted ($6.00) earnings per share. The firm’s revenue for the quarter was up 40.3% compared to the same quarter last year. As a group, analysts anticipate that Safehold will post 1.52 earnings per share for the current fiscal year.

Safehold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.177 dividend. The ex-dividend date was Wednesday, March 27th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.74%. Safehold’s payout ratio is currently -86.42%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the business. BlackRock Inc. boosted its position in Safehold by 51.4% during the 1st quarter. BlackRock Inc. now owns 7,325,064 shares of the company’s stock worth $211,511,000 after acquiring an additional 2,487,183 shares during the period. UBS Group AG grew its position in Safehold by 1,002.8% during the fourth quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock valued at $51,625,000 after purchasing an additional 2,006,133 shares in the last quarter. Bluefin Capital Management LLC acquired a new position in Safehold in the 1st quarter valued at approximately $10,264,000. Aew Capital Management L P purchased a new stake in Safehold in the 4th quarter worth approximately $25,605,000. Finally, Vanguard Group Inc. boosted its stake in shares of Safehold by 11.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock valued at $137,234,000 after buying an additional 816,033 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

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.