Safehold (NYSE:SAFE) Given Neutral Rating at Wedbush

Safehold (NYSE:SAFE)‘s stock had its “neutral” rating reaffirmed by research analysts at Wedbush in a research note issued to investors on Monday,RTT News reports. They presently have a $20.00 target price on the stock. Wedbush’s price objective points to a potential upside of 6.71% from the stock’s previous close.

A number of other research firms have also recently weighed in on SAFE. The Goldman Sachs Group cut their price target on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research note on Thursday, February 6th. Finally, Morgan Stanley cut Safehold from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $25.67.

Safehold Stock Performance

SAFE traded up $0.64 during trading on Monday, reaching $18.74. 571,752 shares of the company were exchanged, compared to its average volume of 383,810. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82. The stock has a market cap of $1.34 billion, a P/E ratio of 12.66 and a beta of 1.75. Safehold has a 52 week low of $15.55 and a 52 week high of $28.80. The firm has a 50 day moving average of $17.65 and a 200 day moving average of $20.26.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same period in the previous year, the firm posted $0.36 EPS. On average, sell-side analysts forecast that Safehold will post 1.58 EPS for the current fiscal year.

Institutional Trading of Safehold

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Smartleaf Asset Management LLC boosted its holdings in Safehold by 268.4% during the fourth 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 in the last quarter. Tower Research Capital LLC TRC lifted its position in shares of Safehold by 23.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock valued at $83,000 after acquiring an additional 849 shares during the last quarter. Vestcor Inc bought a new stake in shares of Safehold during the 3rd quarter worth $110,000. FMR LLC grew its holdings in shares of 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. Finally, PNC Financial Services Group Inc. raised its position 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.

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.