Safehold price target lowered to $17 from $20 at Wedbush

Wedbush lowered the firm’s price target on Safehold (SAFE) to $17 from $20 and keeps a Neutral rating on the shares. The firm says the company’s Q1 report was a bit nonlinear as Safehold continues to grapple with an on-again/off-again customer base as it relates to its ground lease offering. For the time being, with the stock still stuck in macro purgatory, Wedbush remains on the sidelines.