Safehold (NYSE:SAFE) Downgraded by Morgan Stanley to Equal Weight

Safehold (NYSE:SAFE) was downgraded by stock analysts at Morgan Stanley from an “overweight” rating to an “equal weight” rating in a research note issued to investors on Wednesday, Marketbeat reports. They presently have a $19.00 price target on the stock, down from their prior price target of $30.00. Morgan Stanley’s price target indicates a potential upside of 15.01% from the company’s current price.

A number of other equities analysts also recently issued reports on the stock. Royal Bank of Canada lifted their price objective on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wedbush reaffirmed a “neutral” rating and issued a $23.00 price objective (down from $25.00) on shares of Safehold in a research report on Monday, November 4th. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research report on Thursday, September 19th. Mizuho raised their target price on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, The Goldman Sachs Group dropped their target price on shares of Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $26.00.

Safehold Price Performance

Shares of NYSE:SAFE opened at $16.52 on Wednesday. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. The stock’s 50 day moving average is $19.73 and its 200-day moving average is $22.24. Safehold has a twelve month low of $15.55 and a twelve month high of $28.80. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.72 and a beta of 1.67.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The company had revenue of $90.70 million during the quarter, compared to the consensus estimate of $89.45 million. During the same period in the previous year, the firm posted $0.33 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Sell-side analysts forecast that Safehold will post 1.56 EPS for the current fiscal year.

Hedge Funds Weigh In On Safehold

A number of large investors have recently made changes to their positions in SAFE. GAMMA Investing LLC lifted its holdings in shares of Safehold by 108.7% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after buying an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Safehold by 35.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after buying an additional 471 shares in the last quarter. KBC Group NV boosted its stake in Safehold by 79.3% during the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after buying an additional 1,275 shares during the period. Vestcor Inc purchased a new position in Safehold during the third quarter worth about $110,000. Finally, FMR LLC increased its stake in Safehold by 24.9% in the 3rd quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after acquiring an additional 1,163 shares during the last quarter. 70.38% of the stock is owned by institutional investors.

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.