Safehold (NYSE:SAFE) Upgraded by Zacks Research to Strong-Buy Rating

Zacks Research upgraded shares of Safehold (NYSE:SAFE) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning,Zacks.com reports.

Other research analysts have also recently issued reports about the company. Mizuho raised their target price on Safehold from $14.00 to $15.00 and gave the stock a “neutral” rating in a research report on Monday, January 12th. Cantor Fitzgerald set a $17.00 target price on shares of Safehold and gave the company a “neutral” rating in a research note on Wednesday, October 1st. The Goldman Sachs Group reissued a “buy” rating on shares of Safehold in a research report on Saturday, November 22nd. Morgan Stanley lowered Safehold from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $16.00 to $14.00 in a research note on Thursday, January 22nd. Finally, Royal Bank Of Canada cut their target price on Safehold from $20.00 to $17.00 and set an “outperform” rating for the company in a research report on Thursday, November 6th. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $19.00.

Safehold Stock Performance

Shares of NYSE SAFE traded down $0.20 during mid-day trading on Monday, hitting $13.76. The company had a trading volume of 78,213 shares, compared to its average volume of 427,589. Safehold has a 12 month low of $12.76 and a 12 month high of $19.53. The firm has a market cap of $987.06 million, a P/E ratio of 8.75, a PEG ratio of 1.96 and a beta of 1.84. The business’s 50-day simple moving average is $13.97 and its 200-day simple moving average is $14.74. The company has a debt-to-equity ratio of 1.86, a current ratio of 36.91 and a quick ratio of 36.91.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Wednesday, November 5th. The company reported $0.41 EPS for the quarter, beating the consensus estimate of $0.40 by $0.01. Safehold had a return on equity of 4.78% and a net margin of 29.67%.The firm had revenue of $96.16 million during the quarter, compared to analysts’ expectations of $95.25 million. During the same quarter in the prior year, the firm posted $0.37 EPS. The company’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts predict that Safehold will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, January 15th. Investors of record on Tuesday, December 30th were issued a $0.177 dividend. The ex-dividend date of this dividend was Tuesday, December 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 5.1%. Safehold’s dividend payout ratio (DPR) is currently 45.22%.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Hantz Financial Services Inc. raised its position in shares of Safehold by 928.2% during the second quarter. Hantz Financial Services Inc. now owns 1,861 shares of the company’s stock worth $29,000 after acquiring an additional 1,680 shares during the last quarter. Russell Investments Group Ltd. raised its holdings in Safehold by 115.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 3,344 shares of the company’s stock worth $52,000 after purchasing an additional 1,789 shares during the last quarter. Advisory Services Network LLC bought a new position in shares of Safehold in the 3rd quarter valued at about $57,000. GAMMA Investing LLC boosted its stake in shares of Safehold by 117.2% in the 2nd quarter. GAMMA Investing LLC now owns 3,923 shares of the company’s stock valued at $61,000 after purchasing an additional 2,117 shares during the last quarter. Finally, Versant Capital Management Inc grew its position in shares of Safehold by 179.1% during the 3rd quarter. Versant Capital Management Inc now owns 4,225 shares of the company’s stock worth $65,000 after buying an additional 2,711 shares during the period. 70.38% of the stock is currently owned by institutional investors.

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.