Safehold (NYSE:SAFE) Raised to “Hold” at Zacks Research

Safehold (NYSE:SAFE) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a note issued to investors on Tuesday,Zacks.com reports.

SAFE has been the topic of several other research reports. The Goldman Sachs Group cut their target price on Safehold from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Royal Bank Of Canada downgraded Safehold from a “market outperform” rating to a “sector perform” rating and lowered their price target for the company from $18.00 to $16.00 in a report on Friday, May 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Safehold in a report on Friday, July 17th. Finally, Wall Street Zen upgraded shares of Safehold from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $18.71.

Safehold Stock Performance

NYSE:SAFE opened at $16.65 on Tuesday. Safehold has a 12 month low of $12.76 and a 12 month high of $17.45. The company has a debt-to-equity ratio of 1.91, a current ratio of 35.58 and a quick ratio of 35.59. The firm has a market capitalization of $1.19 billion, a PE ratio of 10.47, a price-to-earnings-growth ratio of 2.13 and a beta of 1.77. The business’s fifty day moving average price is $15.61 and its 200 day moving average price is $15.15.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $110.85 million for the quarter, compared to analysts’ expectations of $96.51 million. Safehold had a return on equity of 4.78% and a net margin of 28.58%. On average, sell-side analysts anticipate that Safehold will post 1.64 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Safehold

Several hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC lifted its holdings in shares of Safehold by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 1,355,407 shares of the company’s stock valued at $18,557,000 after purchasing an additional 6,255 shares during the last quarter. Long Pond Capital LP acquired a new position in Safehold during the fourth quarter worth approximately $12,936,000. Invesco Ltd. increased its position in Safehold by 4.6% during the second quarter. Invesco Ltd. now owns 619,951 shares of the company’s stock worth $9,646,000 after buying an additional 27,395 shares during the period. Goldman Sachs Group Inc. lifted its stake in Safehold by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company’s stock valued at $8,120,000 after buying an additional 15,280 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in Safehold by 339.9% in the fourth quarter. Deutsche Bank AG now owns 370,042 shares of the company’s stock valued at $5,066,000 after buying an additional 285,920 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Company Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.