Safehold (NYSE:SAFE) Downgraded to “Hold” Rating by Zacks Research

Safehold (NYSE:SAFE) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Several other research analysts have also commented on SAFE. Citigroup reaffirmed a “market outperform” rating on shares of Safehold in a research report on Monday, December 1st. Wall Street Zen lowered shares of Safehold from a “hold” rating to a “sell” rating in a research report on Saturday, March 21st. Royal Bank Of Canada upped their price target on shares of Safehold from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Truist Financial increased their price target on shares of Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Finally, Mizuho raised their price objective on shares of Safehold from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 11th. Four investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Safehold has a consensus rating of “Hold” and an average target price of $19.33.

Safehold Price Performance

Shares of NYSE:SAFE opened at $13.95 on Wednesday. The company has a debt-to-equity ratio of 1.88, a current ratio of 34.97 and a quick ratio of 34.97. Safehold has a 12 month low of $12.76 and a 12 month high of $19.21. The firm has a market capitalization of $1.00 billion, a P/E ratio of 8.72, a P/E/G ratio of 1.89 and a beta of 1.80. The company’s fifty day moving average price is $14.98 and its 200 day moving average price is $14.72.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Wednesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.42. Safehold had a return on equity of 4.92% and a net margin of 29.69%.The company had revenue of $97.87 million for the quarter, compared to analyst estimates of $96.71 million. As a group, sell-side analysts predict that Safehold will post 1.58 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Safehold

Several institutional investors have recently made changes to their positions in the stock. Royal Bank of Canada lifted its stake in shares of Safehold by 21.1% in the first quarter. Royal Bank of Canada now owns 44,462 shares of the company’s stock valued at $833,000 after purchasing an additional 7,743 shares during the period. Amundi grew its position in Safehold by 2.6% during the first quarter. Amundi now owns 50,855 shares of the company’s stock worth $906,000 after buying an additional 1,306 shares during the period. AQR Capital Management LLC grew its position in Safehold by 1,106.2% during the first quarter. AQR Capital Management LLC now owns 195,530 shares of the company’s stock worth $3,660,000 after buying an additional 179,319 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Safehold by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company’s stock valued at $576,000 after buying an additional 1,308 shares in the last quarter. Finally, Goldman Sachs Group Inc. increased its holdings 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 in the last quarter. 70.38% of the stock is currently owned by hedge funds and other 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.