Safehold (NYSE:SAFE) Upgraded at Zacks Research

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

SAFE has been the subject of several other reports. The Goldman Sachs Group reduced their target price on Safehold from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Royal Bank Of Canada cut Safehold from a “market outperform” rating to a “sector perform” rating and dropped their price target for the company from $18.00 to $16.00 in a research note on Friday, May 1st. Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Safehold in a report on Friday, July 17th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $18.71.

Safehold Trading Down 3.5%

NYSE SAFE opened at $16.07 on Tuesday. The firm has a market cap of $1.15 billion, a P/E ratio of 10.11, a P/E/G ratio of 2.13 and a beta of 1.77. The company has a debt-to-equity ratio of 1.91, a current ratio of 35.58 and a quick ratio of 35.59. The stock’s 50-day moving average is $15.64 and its 200-day moving average is $15.17. Safehold has a one year low of $12.76 and a one year high of $17.45.

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 the consensus estimate of $0.43 by ($0.03). Safehold had a net margin of 28.58% and a return on equity of 4.78%. The business had revenue of $110.85 million for the quarter, compared to the consensus estimate of $96.51 million. Sell-side analysts anticipate that Safehold will post 1.64 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Safehold’s payout ratio is currently 44.65%.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Breakwater Capital Group lifted its position in shares of Safehold by 13.4% during the 2nd quarter. Breakwater Capital Group now owns 15,054 shares of the company’s stock worth $236,000 after buying an additional 1,775 shares in the last quarter. Bank of America Corp DE grew its holdings in shares of Safehold by 110.4% in the first quarter. Bank of America Corp DE now owns 337,284 shares of the company’s stock valued at $4,563,000 after acquiring an additional 177,001 shares in the last quarter. Amundi grew its holdings in shares of Safehold by 27.2% in the first quarter. Amundi now owns 49,316 shares of the company’s stock valued at $667,000 after acquiring an additional 10,542 shares in the last quarter. Royal Bank of Canada increased its position in shares of Safehold by 121.2% during the first quarter. Royal Bank of Canada now owns 90,756 shares of the company’s stock valued at $1,228,000 after acquiring an additional 49,736 shares during the last quarter. Finally, Infrastructure Capital Advisors LLC increased its position in shares of Safehold by 23.6% during the first quarter. Infrastructure Capital Advisors LLC now owns 57,833 shares of the company’s stock valued at $782,000 after acquiring an additional 11,050 shares during the last quarter. 70.38% of the stock is 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.