Zacks Investment Research upgraded shares of Safehold (NYSE:SAFE) from a hold rating to a buy rating in a research report sent to investors on Wednesday morning, Zacks.com reports. They currently have $44.00 price objective on the stock.

According to Zacks, “Safety, Income and Growth, Inc. acquires, owns, manages, finances and capitalizes ground net leases. Safety, Income and Growth, Inc. is based in New York, United States. “

Several other analysts also recently commented on the stock. Barclays reiterated a sell rating and issued a $29.00 price target on shares of Safehold in a research report on Sunday, October 13th. ValuEngine downgraded shares of Safehold from a hold rating to a sell rating in a research report on Wednesday, October 2nd. Finally, TheStreet upgraded shares of Safehold from a c rating to a b- rating in a research note on Wednesday, August 7th.

Shares of NYSE SAFE traded up $0.39 during trading hours on Wednesday, reaching $42.86. The stock had a trading volume of 9,966 shares, compared to its average volume of 135,317. The firm has a market cap of $1.65 billion, a price-to-earnings ratio of 66.91 and a beta of 0.46. Safehold has a fifty-two week low of $16.53 and a fifty-two week high of $42.80. The firm has a 50-day moving average of $35.90 and a 200-day moving average of $31.70.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Thursday, October 24th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. Safehold had a return on equity of 4.70% and a net margin of 32.27%. The company had revenue of $22.31 million for the quarter, compared to analyst estimates of $21.74 million. Equities analysts anticipate that Safehold will post 1.03 EPS for the current fiscal year.

In other Safehold news, major shareholder Istar Inc. purchased 87,450 shares of the stock in a transaction dated Thursday, September 12th. The shares were acquired at an average cost of $28.51 per share, for a total transaction of $2,493,199.50. Also, CEO Jay Sugarman bought 2,700 shares of Safehold stock in a transaction on Monday, November 25th. The stock was purchased at an average price of $39.00 per share, for a total transaction of $105,300.00. Following the completion of the acquisition, the chief executive officer now owns 34,464 shares in the company, valued at approximately $1,344,096. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 350,870 shares of company stock valued at $10,941,252. Corporate insiders own 1.47% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in SAFE. Tower Research Capital LLC TRC purchased a new stake in Safehold in the 3rd quarter worth approximately $33,000. BNP Paribas Arbitrage SA acquired a new position in Safehold in the second quarter valued at approximately $36,000. Nisa Investment Advisors LLC boosted its stake in Safehold by 83.6% in the second quarter. Nisa Investment Advisors LLC now owns 1,561 shares of the company’s stock valued at $47,000 after acquiring an additional 711 shares during the period. Optimum Investment Advisors bought a new position in shares of Safehold during the second quarter valued at approximately $103,000. Finally, Metropolitan Life Insurance Co NY grew its holdings in shares of Safehold by 918.9% during the third quarter. Metropolitan Life Insurance Co NY now owns 4,259 shares of the company’s stock valued at $130,000 after purchasing an additional 3,841 shares during the last quarter. 20.97% of the stock is currently owned by institutional investors and hedge funds.

About Safehold

Safehold Inc (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

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