Truist Financial Issues Pessimistic Forecast for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE) had its target price reduced by analysts at Truist Financial from $17.00 to $13.00 in a report issued on Monday, Benzinga reports. The brokerage currently has a “hold” rating on the stock. Truist Financial’s price objective would indicate a potential upside of 8.38% from the stock’s previous close.

Several other equities analysts have also commented on SAFE. Cantor Fitzgerald reiterated a “neutral” rating on shares of Safehold in a research report on Tuesday, August 4th. Weiss Ratings raised Safehold from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. JPMorgan Chase & Co. lowered Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 target price for the company. in a research note on Thursday, September 24th. Mizuho reduced their price target on shares of Safehold from $16.00 to $14.00 and set a “neutral” rating on the stock in a research report on Thursday, September 17th. Finally, Wall Street Zen raised shares of Safehold from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $15.86.

Safehold Stock Down 1.8%

Shares of NYSE:SAFE opened at $11.99 on Monday. The firm has a market capitalization of $849.49 million, a PE ratio of 7.40, a price-to-earnings-growth ratio of 3.64 and a beta of 1.73. The company has a debt-to-equity ratio of 1.77, a quick ratio of 34.36 and a current ratio of 34.37. Safehold has a 52-week low of $11.90 and a 52-week high of $17.45. The firm has a fifty day moving average of $14.95 and a 200 day moving average of $15.11.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Safehold had a return on equity of 4.76% and a net margin of 27.70%.The business had revenue of $114.65 million for the quarter, compared to the consensus estimate of $110.78 million. As a group, research analysts anticipate that Safehold will post 1.64 EPS for the current fiscal year.

Insider Activity at Safehold

In related news, Director Robin Josephs sold 9,500 shares of the firm’s stock in a transaction on Wednesday, September 9th. The stock was sold at an average price of $14.56, for a total value of $138,320.00. Following the completion of the sale, the director owned 89,068 shares of the company’s stock, valued at $1,296,830.08. This trade represents a 9.64% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 3.80% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised its stake in Safehold by 32.0% in the first quarter. PNC Financial Services Group Inc. now owns 6,094 shares of the company’s stock worth $82,000 after buying an additional 1,478 shares in the last quarter. IFM Investors Pty Ltd purchased a new position in shares of Safehold during the 1st quarter worth approximately $122,000. Caxton Associates LLP purchased a new position in shares of Safehold during the 1st quarter worth approximately $168,000. Fifth Third Bancorp raised its position in shares of Safehold by 2,595.0% in the 1st quarter. Fifth Third Bancorp now owns 12,990 shares of the company’s stock worth $176,000 after acquiring an additional 12,508 shares in the last quarter. Finally, Breakwater Capital Group bought a new position in shares of Safehold in the 1st quarter worth approximately $180,000. 70.38% of the stock is currently owned by institutional investors.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning and managing ground leases. Through its ground lease structure, Safehold acquires the land beneath commercial real estate properties and leases it to property owners under long-term agreements, allowing those owners to retain ownership of and operate the buildings on the sites.

The company’s ground lease investments support a range of property types, including multifamily housing, office buildings, hotels, life sciences facilities, student housing, industrial properties and retail assets.