Safehold (NYSE:SAFE) Earns Outperform Rating from Analysts at BNP Paribas

BNP Paribas assumed coverage on shares of Safehold (NYSE:SAFE – Get Rating) in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. The brokerage issued an outperform rating on the stock.

Separately, Truist Financial dropped their price target on Safehold from $46.00 to $33.00 and set a hold rating for the company in a research report on Friday, December 2nd. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, Safehold has an average rating of Moderate Buy and a consensus target price of $55.50.

Safehold Price Performance

Shares of SAFE stock opened at $29.95 on Thursday. The company has a market cap of $1.87 billion, a price-to-earnings ratio of 13.55 and a beta of 0.65. The stock has a 50 day simple moving average of $31.79 and a 200-day simple moving average of $30.64. Safehold has a 1-year low of $23.65 and a 1-year high of $59.34.

Safehold (NYSE:SAFE – Get Rating) last announced its earnings results on Tuesday, February 14th. The company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.02. Safehold had a return on equity of 4.72% and a net margin of 50.10%. The business had revenue of $73.37 million during the quarter, compared to the consensus estimate of $73.08 million. During the same period in the prior year, the company posted $0.38 EPS. The business’s quarterly revenue was up 41.1% on a year-over-year basis. Analysts anticipate that Safehold will post 1.55 earnings per share for the current fiscal year.

Institutional Trading of Safehold

Several large investors have recently added to or reduced their stakes in SAFE. Long Pond Capital LP purchased a new stake in Safehold in the 2nd quarter valued at $34,106,000. T. Rowe Price Investment Management Inc. grew its holdings in Safehold by 24.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,241,562 shares of the company’s stock valued at $64,154,000 after buying an additional 443,049 shares in the last quarter. Norges Bank purchased a new stake in Safehold in the 4th quarter valued at $10,320,000. Mesirow Institutional Investment Management Inc. purchased a new stake in Safehold in the 3rd quarter valued at $9,017,000. Finally, Price T Rowe Associates Inc. MD grew its holdings in Safehold by 11.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 1,797,511 shares of the company’s stock valued at $63,578,000 after buying an additional 179,541 shares in the last quarter. 25.61% of the stock is currently owned by hedge funds and other institutional investors.

About Safehold

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Safehold, Inc engages in acquiring, owning, managing, and capitalizing ground leases. It also offers capital solutions. The company was founded on April 14, 2017 and is headquartered in New York, NY.