JMP Securities analyst Mitch Germain lowered the firm’s price target on Safehold (SAFE) to $32 from $35 and keeps an Outperform rating on the shares. Safehold’s Q4 was “uneventful,” highlighted by limited investment activity, though the company took measures to strengthen the balance sheet, the analyst tells investors in a research note. JMP continues to view Safehold as a prime beneficiary of downward trending rates.
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