Safehold (NYSE:SAFE) Rating Lowered to Strong Sell at Zacks Research

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

A number of other brokerages also recently commented on SAFE. Wall Street Zen downgraded shares of Safehold from a “hold” rating to a “sell” rating in a research report on Saturday, May 2nd. The Goldman Sachs Group reduced their target price on shares of Safehold from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Truist Financial upped their price objective on shares of Safehold from $16.00 to $17.00 and gave the company a “hold” rating in a research note on Wednesday, February 18th. Mizuho lifted their price target on shares of Safehold from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, March 11th. Finally, Royal Bank Of Canada downgraded shares of Safehold from a “market outperform” rating to a “sector perform” rating and lowered their price objective for the company from $18.00 to $16.00 in a research report on Friday, May 1st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $18.75.

Safehold Stock Up 1.4%

Shares of NYSE:SAFE opened at $15.19 on Wednesday. The firm’s 50 day moving average price is $14.73 and its 200 day moving average price is $14.52. The stock has a market cap of $1.09 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. Safehold has a fifty-two week low of $12.76 and a fifty-two week high of $17.16. The company has a quick ratio of 35.59, a current ratio of 35.58 and a debt-to-equity ratio of 1.91.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.40 earnings per share for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Safehold had a return on equity of 4.78% and a net margin of 28.58%.The company had revenue of $110.85 million for the quarter, compared to analyst estimates of $96.51 million. As a group, equities research analysts predict that Safehold will post 1.64 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Safehold

Several large investors have recently made changes to their positions in the company. Hantz Financial Services Inc. boosted its holdings in shares of Safehold by 39.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,604 shares of the company’s stock worth $40,000 after purchasing an additional 743 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Safehold by 5.6% in the second quarter. Franklin Resources Inc. now owns 16,462 shares of the company’s stock valued at $256,000 after acquiring an additional 878 shares during the last quarter. Federation des caisses Desjardins du Quebec lifted its holdings in Safehold by 25.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,429 shares of the company’s stock valued at $61,000 after acquiring an additional 908 shares during the last quarter. Aberdeen Group plc raised its position in Safehold by 4.9% in the fourth quarter. Aberdeen Group plc now owns 19,892 shares of the company’s stock valued at $272,000 after purchasing an additional 922 shares during the period. Finally, State of Tennessee Department of Treasury raised its position in Safehold by 6.0% in the second quarter. State of Tennessee Department of Treasury now owns 18,567 shares of the company’s stock valued at $289,000 after purchasing an additional 1,048 shares during the period. 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.