Wednesday, June 29, 2022

Safehold Inc. (NYSE:SAFE) Finding Strong Support

Many stocks have been testing new highs in 2020, and one of the most notable is Safehold Inc. (SAFE). Currently, SAFE is trading at $62.53 and the avg recommendation for the stock is Moderate Buy. while the current analyst price target stands at $51.00.

To add more color to this target, the company’s high over the last year is $66.70 and the low is $26.61. Over the last 52 weeks, SAFE is down -6.25% while the S&P 500 is down -0.75%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, SAFE reported a profit of $16.58 million. Safehold Inc. also saw revenues increase to $40.16 million. In addition, SAFE has free cash flow of $7.44 million as of 03-2020 The company’s EBITDA came in at $20.12 million which compares well with its peers.

SAFE booked profit margins of 18.70%, its Return on Equity (ROE) is 2.90%, and its Return on Assets is 1.30%. All told, it is clear that, SAFE needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. SAFE has a short ratio of 3.44 and outstanding shares of 43.79M.

Company Outlook

SAFE has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.17 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at 0.94. Investors should also keep an eye on sector updates as SAFE has historically followed its peers on positive news.

All told, Safehold Inc. SAFE has strung together solid data and demonstrated underlying fundamentals. At its current valuation, SAFE represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

Safehold Inc. SAFE is now commanding a market cap of 3.14B and a float of 17.05M. SAFE is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of SAFE stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in SAFE, either long or short, and we have not been compensated for this article.

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