Safehold (NYSE:SAFE) Now Covered by Analysts at Raymond James Financial

Key Points

• Raymond James initiated coverage of Safehold with a “market perform” rating. Overall analyst sentiment remains “Hold,” with two Buy, seven Hold, and one Sell rating, and an average price target of $17.17.
• Safehold shares rose 1.7% to $15.05, while the company’s latest quarterly results matched expectations with EPS of $0.42 and exceeded revenue estimates, reporting $114.65 million.
• Institutional ownership stands at 70.38%, with BlackRock holding the largest reported position after increasing its stake by 2.1% during the second quarter.

Equities research analysts at Raymond James Financial started coverage on shares of Safehold (NYSE:SAFE - Get Free Report) in a research report issued on Wednesday. The firm set a "market perform" rating on the stock.

Other equities analysts also recently issued reports about the company. Royal Bank Of Canada downgraded Safehold from a "market outperform" rating to a "sector perform" rating and lowered their price objective for the stock from $18.00 to $16.00 in a research report on Friday, May 1st. Zacks Research upgraded shares of Safehold from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 21st. Cantor Fitzgerald reissued a "neutral" rating on shares of Safehold in a research report on Tuesday, August 4th. Wall Street Zen raised shares of Safehold from a "sell" rating to a "hold" rating in a research report on Saturday, July 4th. Finally, The Goldman Sachs Group decreased their price target on Safehold from $27.00 to $23.00 and set a "buy" rating for the company in a report on Friday, May 15th. Two equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Safehold has an average rating of "Hold" and an average target price of $17.17.

Safehold Stock Up 1.7%

Shares of NYSE:SAFE traded up $0.26 during trading on Wednesday, hitting $15.05. The company's stock had a trading volume of 9,924 shares, compared to its average volume of 355,087. The company has a market capitalization of $1.07 billion, a PE ratio of 9.30, a P/E/G ratio of 4.52 and a beta of 1.75. The company has a debt-to-equity ratio of 1.77, a quick ratio of 34.36 and a current ratio of 34.37. Safehold has a fifty-two week low of $12.76 and a fifty-two week high of $17.45. The business has a 50 day moving average price of $16.00 and a two-hundred day moving average price of $15.34.

Safehold (NYSE:SAFE - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The firm had revenue of $114.65 million during the quarter, compared to analysts' expectations of $110.78 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. As a group, research analysts expect that Safehold will post 1.64 EPS for the current fiscal year.

Institutional Investors Weigh In On Safehold

Several hedge funds have recently made changes to their positions in SAFE. BlackRock Inc. lifted its position in Safehold by 2.1% during the 2nd quarter. BlackRock Inc. now owns 9,938,575 shares of the company's stock worth $156,036,000 after acquiring an additional 200,628 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Safehold by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 1,355,407 shares of the company's stock worth $18,557,000 after purchasing an additional 6,255 shares during the period. Long Pond Capital LP purchased a new position in Safehold in the 4th quarter valued at $12,936,000. NewEdge Wealth LLC purchased a new position in Safehold in the 2nd quarter valued at $10,529,000. Finally, Invesco Ltd. increased its stake in Safehold by 4.6% in the 2nd quarter. Invesco Ltd. now owns 619,951 shares of the company's stock valued at $9,646,000 after buying an additional 27,395 shares during the period. Institutional investors and hedge funds 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source