The Goldman Sachs Group Issues Pessimistic Forecast for Safehold (NYSE:SAFE) Stock Price

Safehold (NYSE:SAFE) had its target price lowered by stock analysts at The Goldman Sachs Group from $29.00 to $24.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has a “buy” rating on the stock. The Goldman Sachs Group’s price objective would suggest a potential upside of 45.45% from the company’s previous close.

Other research analysts have also recently issued reports about the company. Royal Bank of Canada boosted their target price on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities restated a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research note on Tuesday, October 29th. Wedbush reiterated a “neutral” rating and issued a $23.00 price target (down previously from $25.00) on shares of Safehold in a research note on Monday, November 4th. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a report on Thursday, September 19th. Finally, Mizuho raised their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $26.88.

Safehold Stock Down 2.7 %

Shares of NYSE:SAFE opened at $16.50 on Tuesday. Safehold has a 12-month low of $16.30 and a 12-month high of $28.80. The company has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.71 and a beta of 1.67. The business has a 50-day moving average price of $20.10 and a 200 day moving average price of $22.29. The company has a current ratio of 37.83, a quick ratio of 37.83 and a debt-to-equity ratio of 1.85.

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

Institutional Investors Weigh In On Safehold

A number of institutional investors and hedge funds have recently bought and sold shares of SAFE. Angeles Wealth Management LLC acquired a new stake in shares of Safehold during the second quarter worth about $585,000. Victory Capital Management Inc. purchased a new position in Safehold during the 3rd quarter worth approximately $639,000. Charles Schwab Investment Management Inc. increased its position in Safehold by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock worth $18,039,000 after buying an additional 39,320 shares during the period. Barclays PLC lifted its stake in Safehold by 317.9% in the third quarter. Barclays PLC now owns 85,932 shares of the company’s stock valued at $2,254,000 after buying an additional 65,370 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in Safehold by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock valued at $32,734,000 after buying an additional 38,074 shares during the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

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.