Safehold (NYSE:SAFE) Cut to Hold at Zacks Research

Zacks Research downgraded shares of Safehold (NYSE:SAFE) from a strong-buy rating to a hold rating in a research note published on Wednesday morning,Zacks.com reports.

Other equities analysts also recently issued reports about the company. Truist Financial raised their price objective on Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, February 18th. Citigroup reiterated a “market outperform” rating on shares of Safehold in a report on Monday, December 1st. Morgan Stanley downgraded shares of Safehold from an “equal weight” rating to an “underweight” rating and dropped their target price for the stock from $16.00 to $14.00 in a research report on Thursday, January 22nd. Royal Bank Of Canada lifted 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. Finally, Mizuho boosted their price objective on shares of Safehold from $15.00 to $16.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 11th. Four equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, Safehold currently has an average rating of “Hold” and a consensus price target of $19.33.

Safehold Stock Down 3.6%

Shares of NYSE SAFE opened at $13.45 on Wednesday. Safehold has a 52-week low of $12.76 and a 52-week high of $19.21. The firm has a fifty day moving average of $14.95 and a 200-day moving average of $14.70. The stock has a market capitalization of $965.39 million, a PE ratio of 8.41, a P/E/G ratio of 1.89 and a beta of 1.80. The company has a quick ratio of 34.97, a current ratio of 34.97 and a debt-to-equity ratio of 1.88.

Safehold (NYSE:SAFE) last issued its earnings results on Wednesday, February 11th. The company reported $0.42 earnings per share 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 business had revenue of $97.87 million for the quarter, compared to analyst estimates of $96.71 million. On average, analysts anticipate that Safehold will post 1.58 EPS for the current year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 5.3%. The ex-dividend date is Tuesday, March 31st. Safehold’s dividend payout ratio (DPR) is presently 44.38%.

Hedge Funds Weigh In On Safehold

Institutional investors and hedge funds have recently bought and sold shares of the stock. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in shares of Safehold during the fourth quarter valued at approximately $31,000. Hantz Financial Services Inc. boosted its stake in shares of Safehold by 39.9% in the third quarter. Hantz Financial Services Inc. now owns 2,604 shares of the company’s stock valued at $40,000 after purchasing an additional 743 shares during the period. Russell Investments Group Ltd. grew 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 valued at $52,000 after purchasing an additional 1,789 shares in the last quarter. Advisory Services Network LLC acquired a new stake in Safehold during the 3rd quarter valued at $57,000. Finally, Federation des caisses Desjardins du Quebec increased its stake in Safehold by 25.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,429 shares of the company’s stock worth $61,000 after buying an additional 908 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

About Safehold

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.