Safehold (NYSE:SAFE) Price Target Cut to $46.00 by Analysts at Truist Financial

Safehold (NYSE:SAFEGet Rating) had its target price reduced by Truist Financial from $68.00 to $46.00 in a report released on Monday morning, The Fly reports. They currently have a na rating on the stock.

A number of other research firms also recently weighed in on SAFE. Zacks Investment Research downgraded Safehold from a hold rating to a sell rating in a research report on Friday, April 22nd. B. Riley dropped their price objective on Safehold from $110.00 to $80.00 in a report on Tuesday, April 26th. Mizuho downgraded Safehold from a buy rating to a neutral rating and dropped their price objective for the company from $96.00 to $75.00 in a report on Thursday, January 20th. TheStreet downgraded Safehold from a b- rating to a c+ rating in a report on Monday, April 18th. Finally, Morgan Stanley dropped their price objective on Safehold from $150.00 to $140.00 and set an overweight rating for the company in a report on Tuesday, March 15th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of Hold and a consensus target price of $79.00.

Shares of SAFE opened at $40.54 on Monday. The stock has a fifty day moving average price of $49.97 and a two-hundred day moving average price of $62.11. Safehold has a 52-week low of $40.21 and a 52-week high of $95.29. The company has a market cap of $2.51 billion, a price-to-earnings ratio of 27.58 and a beta of 0.07.

Safehold (NYSE:SAFEGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. Safehold had a return on equity of 4.78% and a net margin of 39.77%. The firm had revenue of $60.40 million during the quarter, compared to the consensus estimate of $59.38 million. During the same quarter in the previous year, the company posted $0.32 EPS. The business’s revenue for the quarter was up 38.9% compared to the same quarter last year. On average, sell-side analysts forecast that Safehold will post 1.76 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, April 15th. Shareholders of record on Thursday, March 31st were paid a $0.17 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.68%. Safehold’s payout ratio is 46.26%.

In other Safehold news, major shareholder Istar Inc. bought 3,240,000 shares of the firm’s stock in a transaction on Monday, March 7th. The stock was purchased at an average cost of $59.00 per share, with a total value of $191,160,000.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.56% of the stock is currently owned by insiders.

Large investors have recently bought and sold shares of the business. FMR LLC boosted its position in shares of Safehold by 7.7% during the first quarter. FMR LLC now owns 484,299 shares of the company’s stock worth $10,563,000 after buying an additional 34,628 shares during the period. Morgan Stanley boosted its position in shares of Safehold by 18.1% during the second quarter. Morgan Stanley now owns 107,391 shares of the company’s stock worth $8,431,000 after buying an additional 16,487 shares during the period. PNC Financial Services Group Inc. boosted its position in shares of Safehold by 248.2% during the third quarter. PNC Financial Services Group Inc. now owns 3,928 shares of the company’s stock worth $283,000 after buying an additional 2,800 shares during the period. Advisor Group Holdings Inc. boosted its position in shares of Safehold by 16.6% during the third quarter. Advisor Group Holdings Inc. now owns 6,766 shares of the company’s stock worth $487,000 after buying an additional 962 shares during the period. Finally, Russell Investments Group Ltd. boosted its position in shares of Safehold by 78.6% during the third quarter. Russell Investments Group Ltd. now owns 6,651 shares of the company’s stock worth $477,000 after buying an additional 2,928 shares during the period. 25.61% of the stock is owned by hedge funds and other institutional investors.

Safehold Company Profile (Get Rating)

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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

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