Truist Financial Cuts Safehold (NYSE:SAFE) Price Target to $18.00

by · The Cerbat Gem

Safehold (NYSE:SAFE – Free Report) had its price objective reduced by Truist Financial from $20.00 to $18.00 in a research note issued to investors on Monday,Benzinga reports. Truist Financial currently has a hold rating on the stock.

Several other research analysts also recently weighed in on SAFE. JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Thursday, February 6th. The Goldman Sachs Group lowered their price objective on shares of Safehold from $28.00 to $25.00 and set a “buy” rating on the stock in a research report on Wednesday, May 14th. Morgan Stanley lowered their price objective on shares of Safehold from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research report on Tuesday, April 29th. Mizuho lowered their price objective on shares of Safehold from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Wedbush reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Safehold in a research report on Monday, March 31st. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat.com, Safehold presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

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Safehold Stock Performance

Safehold stock opened at $14.76 on Monday. The firm’s 50 day simple moving average is $16.27 and its 200-day simple moving average is $17.86. The company has a market cap of $1.06 billion, a P/E ratio of 9.97 and a beta of 1.86. The company has a debt-to-equity ratio of 1.82, a current ratio of 36.59 and a quick ratio of 36.59. Safehold has a fifty-two week low of $13.68 and a fifty-two week high of $28.80.

Safehold (NYSE:SAFE – Get Free Report) last released its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The business had revenue of $97.68 million for the quarter, compared to the consensus estimate of $95.55 million. Safehold had a net margin of 28.92% and a return on equity of 4.76%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. As a group, equities research analysts predict that Safehold will post 1.58 EPS for the current year.

Safehold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend was Monday, March 31st. Safehold’s dividend payout ratio is 47.95%.

Institutional Trading of Safehold

Large investors have recently added to or reduced their stakes in the business. Smartleaf Asset Management LLC grew its position in Safehold by 268.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock worth $26,000 after acquiring an additional 1,020 shares in the last quarter. US Bancorp DE grew its position in Safehold by 136.4% in the first quarter. US Bancorp DE now owns 2,215 shares of the company’s stock worth $41,000 after acquiring an additional 1,278 shares in the last quarter. Versant Capital Management Inc grew its position in Safehold by 73.9% in the first quarter. Versant Capital Management Inc now owns 2,377 shares of the company’s stock worth $44,000 after acquiring an additional 1,010 shares in the last quarter. Tower Research Capital LLC TRC grew its position in Safehold by 23.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock worth $83,000 after acquiring an additional 849 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its position in Safehold by 16.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company’s stock worth $156,000 after acquiring an additional 1,173 shares in the last quarter. 70.38% of the stock is owned by institutional investors.

About Safehold

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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.

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