Safehold (NYSE:SAFE) Lowered to Underweight Rating by JPMorgan Chase & Co.

Safehold (NYSE:SAFE) was downgraded by research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research report issued on Thursday, Marketbeat Ratings reports. They presently have a $14.00 price target on the stock. JPMorgan Chase & Co.‘s target price points to a potential upside of 8.34% from the stock’s current price.

Several other equities research analysts have also recently issued reports on SAFE. Weiss Ratings upgraded Safehold from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Cantor Fitzgerald reissued a “neutral” rating on shares of Safehold in a research report on Tuesday, August 4th. Raymond James Financial began coverage on Safehold in a report on Wednesday, August 19th. They issued a “market perform” rating for the company. Zacks Research raised Safehold from a “strong sell” rating to a “hold” rating in a report on Tuesday, July 21st. Finally, Wall Street Zen upgraded shares of Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat.com, Safehold presently has an average rating of “Hold” and an average target price of $16.43.

Safehold Price Performance

SAFE stock opened at $12.92 on Thursday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 34.36 and a current ratio of 34.37. The stock’s 50 day moving average price is $15.32 and its 200 day moving average price is $15.19. The firm has a market cap of $915.14 million, a P/E ratio of 7.98, a PEG ratio of 4.01 and a beta of 1.73. Safehold has a 1 year low of $12.76 and a 1 year high of $17.45.

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

Insider Activity

In other news, Director Robin Josephs sold 9,500 shares of the business’s stock in a transaction on Wednesday, September 9th. The shares were sold at an average price of $14.56, for a total value of $138,320.00. Following the sale, the director owned 89,068 shares in the company, valued at approximately $1,296,830.08. The trade was a 9.64% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. PNC Financial Services Group Inc. boosted its position in shares of Safehold by 32.0% during 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 during the period. IFM Investors Pty Ltd acquired a new stake in shares of Safehold during the first quarter worth $122,000. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in shares of Safehold during the 2nd quarter worth approximately $189,000. Caxton Associates LLP acquired a new position in Safehold in the 1st quarter valued at $168,000. Finally, Fifth Third Bancorp increased its stake in Safehold by 2,595.0% in the first quarter. Fifth Third Bancorp now owns 12,990 shares of the company’s stock valued at $176,000 after acquiring an additional 12,508 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

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.