Safehold’s (SAFE) “Neutral” Rating Reiterated at Wedbush

Safehold (NYSE:SAFE)‘s stock had its “neutral” rating restated by investment analysts at Wedbush in a research report issued on Monday,RTT News reports. They currently have a $20.00 target price on the stock. Wedbush’s target price would indicate a potential upside of 6.71% from the stock’s current price.

Other research analysts also recently issued research reports about the stock. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Thursday, February 6th. Morgan Stanley lowered Safehold from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $30.00 to $19.00 in a research report on Wednesday, January 15th. Finally, The Goldman Sachs Group reduced their price target on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $25.67.

Safehold Price Performance

Shares of Safehold stock traded up $0.64 during trading on Monday, hitting $18.74. 571,752 shares of the company were exchanged, compared to its average volume of 383,810. The firm has a 50 day moving average price of $17.65 and a 200 day moving average price of $20.26. The stock has a market capitalization of $1.34 billion, a price-to-earnings ratio of 12.66 and a beta of 1.75. The company has a quick ratio of 36.59, a current ratio of 36.59 and a debt-to-equity ratio of 1.82. Safehold has a fifty-two week low of $15.55 and a fifty-two week high of $28.80.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same period in the prior year, the firm posted $0.36 earnings per share. On average, equities analysts expect that Safehold will post 1.58 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Safehold

A number of hedge funds have recently bought and sold shares of the company. Smartleaf Asset Management LLC lifted its holdings in Safehold by 268.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock worth $26,000 after buying an additional 1,020 shares during the last quarter. Tower Research Capital LLC TRC lifted its stake in Safehold by 23.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock worth $83,000 after purchasing an additional 849 shares during the last quarter. Vestcor Inc acquired a new position in Safehold in the third quarter worth $110,000. FMR LLC increased its stake in Safehold by 24.9% during the third quarter. FMR LLC now owns 5,840 shares of the company’s stock valued at $153,000 after purchasing an additional 1,163 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its holdings in shares of Safehold by 16.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company’s stock worth $156,000 after purchasing an additional 1,173 shares during the period. 70.38% of the stock is currently 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.