Safehold (NYSE:SAFE) Price Target Lowered to $19.00 at Mizuho

Safehold (NYSE:SAFE) had its price objective dropped by equities researchers at Mizuho from $25.00 to $19.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has a “neutral” rating on the stock. Mizuho’s price objective suggests a potential upside of 5.19% from the stock’s current price.

SAFE has been the subject of several other reports. Wedbush reiterated a “neutral” rating and set a $20.00 price target on shares of Safehold in a report on Monday. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a report on Thursday, February 6th. Morgan Stanley downgraded Safehold from an “overweight” rating to an “equal weight” rating and dropped their target price 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 report on Tuesday, January 7th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $25.00.

Safehold Price Performance

Shares of SAFE stock traded down $0.28 on Thursday, hitting $18.06. 94,377 shares of the company’s stock were exchanged, compared to its average volume of 382,387. Safehold has a 12 month low of $15.55 and a 12 month high of $28.80. The company has a debt-to-equity ratio of 1.82, a current ratio of 36.59 and a quick ratio of 36.59. The company has a 50 day moving average of $17.72 and a 200 day moving average of $20.18. The stock has a market cap of $1.29 billion, a P/E ratio of 12.21 and a beta of 1.62.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, meeting 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 prior year, the company posted $0.36 EPS. On average, equities research analysts predict that Safehold will post 1.58 EPS for the current year.

Hedge Funds Weigh In On Safehold

Several hedge funds and other institutional investors have recently bought and sold shares of SAFE. T. Rowe Price Investment Management Inc. raised its position in shares of Safehold by 8.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,266,769 shares of the company’s stock worth $78,850,000 after acquiring an additional 336,458 shares in the last quarter. State Street Corp increased its holdings in Safehold by 2.0% in the third quarter. State Street Corp now owns 2,618,033 shares of the company’s stock worth $69,131,000 after purchasing an additional 51,035 shares in the last quarter. American Century Companies Inc. increased its holdings in Safehold by 11.1% in the fourth quarter. American Century Companies Inc. now owns 1,515,743 shares of the company’s stock worth $28,011,000 after purchasing an additional 150,976 shares in the last quarter. 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 period. Finally, JPMorgan Chase & Co. boosted its holdings in shares of Safehold by 58.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,051,078 shares of the company’s stock worth $19,424,000 after buying an additional 388,899 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

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.