Safehold (NYSE:SAFE) Given New $18.00 Price Target at Royal Bank Of Canada

Safehold (NYSE:SAFE) had its price objective increased by equities research analysts at Royal Bank Of Canada from $17.00 to $18.00 in a research note issued to investors on Friday,Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Royal Bank Of Canada’s target price points to a potential upside of 14.72% from the stock’s previous close.

Several other analysts have also issued reports on the stock. Mizuho lifted their target price on shares of Safehold from $14.00 to $15.00 and gave the company a “neutral” rating in a research report on Monday, January 12th. Citigroup reaffirmed a “market outperform” rating on shares of Safehold in a research note on Monday, December 1st. Truist Financial boosted their price objective on Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday. Weiss Ratings reissued a “hold (c-)” rating on shares of Safehold in a report on Thursday, January 22nd. Finally, Morgan Stanley downgraded Safehold from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $16.00 to $14.00 in a research report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $19.22.

Safehold Price Performance

Shares of SAFE stock traded up $0.07 during trading hours on Friday, hitting $15.69. 46,188 shares of the company’s stock were exchanged, compared to its average volume of 400,752. Safehold has a fifty-two week low of $12.76 and a fifty-two week high of $19.53. The firm has a market cap of $1.13 billion, a P/E ratio of 9.79, a P/E/G ratio of 2.16 and a beta of 1.86. The company has a quick ratio of 34.97, a current ratio of 34.97 and a debt-to-equity ratio of 1.88. The firm has a 50 day moving average of $14.42 and a two-hundred day moving average of $14.76.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The firm had revenue of $97.87 million for the quarter, compared to analysts’ expectations of $96.71 million. Safehold had a net margin of 29.69% and a return on equity of 4.92%. Sell-side analysts forecast that Safehold will post 1.58 EPS for the current year.

Hedge Funds Weigh In On Safehold

A number of institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in shares of Safehold by 24.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,411,158 shares of the company’s stock worth $21,859,000 after purchasing an additional 279,664 shares during the last quarter. Geode Capital Management LLC boosted its stake in Safehold by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,355,407 shares of the company’s stock worth $18,557,000 after buying an additional 6,255 shares during the period. Long Pond Capital LP acquired a new stake in shares of Safehold during the fourth quarter valued at about $12,936,000. Invesco Ltd. increased its position in shares of Safehold by 4.6% during the second quarter. Invesco Ltd. now owns 619,951 shares of the company’s stock valued at $9,646,000 after acquiring an additional 27,395 shares during the last quarter. Finally, Algert Global LLC raised its stake in shares of Safehold by 137.4% in the 3rd quarter. Algert Global LLC now owns 486,386 shares of the company’s stock valued at $7,534,000 after acquiring an additional 281,478 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Company Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.