Safehold (NYSE:SAFE) PT Raised to $38.00

Safehold (NYSE:SAFE) had its price objective hoisted by equities researchers at The Goldman Sachs Group from $25.00 to $38.00 in a research note issued on Wednesday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. The Goldman Sachs Group’s price target would suggest a potential upside of 38.23% from the stock’s previous close.

A number of other brokerages have also weighed in on SAFE. Wedbush increased their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Truist Financial raised their price objective on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Safehold currently has an average rating of “Moderate Buy” and an average target price of $28.56.

Safehold Stock Down 1.3 %

SAFE opened at $27.49 on Wednesday. The company has a market cap of $1.96 billion, a PE ratio of -61.84 and a beta of 1.65. The business has a 50 day moving average price of $23.80 and a two-hundred day moving average price of $20.95. Safehold has a 52 week low of $15.00 and a 52 week high of $28.80. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $87.28 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The company’s revenue was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS. As a group, research analysts anticipate that Safehold will post 1.59 EPS for the current year.

Hedge Funds Weigh In On Safehold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Truist Financial Corp grew its holdings in shares of Safehold by 10.7% during the 2nd quarter. Truist Financial Corp now owns 21,179 shares of the company’s stock valued at $409,000 after acquiring an additional 2,040 shares in the last quarter. Algert Global LLC boosted its holdings in Safehold by 7.3% during the second quarter. Algert Global LLC now owns 68,076 shares of the company’s stock valued at $1,313,000 after acquiring an additional 4,656 shares during the period. Long Pond Capital LP boosted its holdings in Safehold by 14.9% during the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after acquiring an additional 345,661 shares during the period. Public Sector Pension Investment Board lifted its stake in shares of Safehold by 6.5% in the second quarter. Public Sector Pension Investment Board now owns 98,999 shares of the company’s stock valued at $1,910,000 after buying an additional 6,085 shares during the period. Finally, Sei Investments Co. lifted its stake in shares of Safehold by 3.2% in the second quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock valued at $12,926,000 after buying an additional 20,483 shares during the period. 70.38% of the stock is currently owned by hedge funds and other 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.