Wedbush Reaffirms Neutral Rating for Safehold (NYSE:SAFE)

Safehold (NYSE:SAFE)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a research report issued to clients and investors on Friday,Benzinga reports. They presently have a $19.00 target price on the stock, down from their prior target price of $20.00. Wedbush’s price target suggests a potential upside of 10.02% from the stock’s previous close.

Several other analysts also recently issued reports on SAFE. Mizuho upped their price target on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Royal Bank of Canada raised their price target on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Morgan Stanley lowered shares of Safehold from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $30.00 to $19.00 in a report on Wednesday, January 15th. Finally, JMP Securities reiterated a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Thursday. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.56.

Safehold Price Performance

Shares of NYSE:SAFE traded down $0.59 during trading on Friday, reaching $17.27. 290,734 shares of the company’s stock traded hands, compared to its average volume of 529,098. The firm has a market cap of $1.23 billion, a PE ratio of 10.16 and a beta of 1.66. The company has a 50-day simple moving average of $18.33 and a 200-day simple moving average of $21.79. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. Safehold has a fifty-two week low of $15.55 and a fifty-two week high of $28.80.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Safehold had a return on equity of 4.79% and a net margin of 32.08%. During the same period in the previous year, the firm earned $0.36 EPS. As a group, analysts predict that Safehold will post 1.57 earnings per share for the current year.

Institutional Investors Weigh In On Safehold

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SAFE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Safehold by 266.5% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 349,631 shares of the company’s stock worth $9,171,000 after buying an additional 254,227 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Safehold by 1,683.3% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,750 shares of the company’s stock worth $4,209,000 after purchasing an additional 214,979 shares in the last quarter. B&I Capital AG lifted its stake in shares of Safehold by 75.3% during the fourth quarter. B&I Capital AG now owns 417,503 shares of the company’s stock valued at $7,715,000 after acquiring an additional 179,376 shares during the period. Heitman Real Estate Securities LLC acquired a new position in Safehold in the third quarter valued at approximately $3,683,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Safehold during the 4th quarter valued at $2,217,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

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.