In a report released yesterday, Stephen Laws from Raymond James maintained a Hold rating on Safehold (SAFE). The company’s shares closed last Thursday at $65.99, close to its 52-week high of $67.31.
According to TipRanks.com, Laws is a 4-star analyst with an average return of 5.3% and a 59.8% success rate. Laws covers the Financial sector, focusing on stocks such as Colony Credit Real Estate, Kkr Real Estate Finance, and Granite Point Mortgage.
Currently, the analyst consensus on Safehold is a Moderate Buy with an average price target of $70.00.
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Based on Safehold’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $37.35 million and net profit of $12.51 million. In comparison, last year the company earned revenue of $19.68 million and had a net profit of $4.52 million.
Based on the recent corporate insider activity of 50 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SAFE in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Safehold Inc. operates as a real estate investment trust, which focuses on acquiring, owning, managing and capitalizing ground leases. It seeks to provide safe & growing income, as well as capital appreciation to shareholders by building a diversified portfolio of ground leases. The company’s property is generally leased on a triple net basis with the tenant responsible for taxes, maintenance and insurance, as well as all operating costs and capital expenditures. Safety, Income & Growth was founded on April 14, 2017 and is headquartered in New York, NY.
