Safehold (NYSE:SAFE) Raised to "Hold" at Zacks Research

Key Points

• Zacks Research upgraded Safehold from a “strong sell” to a “hold” rating, adding to a mixed but slightly more neutral analyst view of the stock.
• Overall sentiment remains cautious: Safehold now has an average Hold rating, with a consensus price target of $18.71 and several firms having recently cut or adjusted their recommendations and targets.
• The stock was trading at $16.65 and fell 0.4% on the day; the company also recently reported quarterly EPS of $0.40, missing estimates, though revenue came in above expectations.

Safehold (NYSE:SAFE - Get Free Report) was upgraded by Zacks Research from a "strong sell" rating to a "hold" rating in a research note issued to investors on Tuesday,Zacks.com reports.

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

Safehold Stock Down 0.4%

Shares of NYSE SAFE opened at $16.65 on Tuesday. Safehold has a 52-week low of $12.76 and a 52-week high of $17.45. The business's 50 day moving average is $15.61 and its two-hundred day moving average is $15.15. The firm has a market cap of $1.19 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 2.13 and a beta of 1.77. 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 - Get Free Report) last issued 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 net margin of 28.58% and a return on equity of 4.78%. The firm had revenue of $110.85 million during the quarter, compared to analyst estimates of $96.51 million. Research analysts predict that Safehold will post 1.64 EPS for the current year.

Hedge Funds Weigh In On Safehold

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Breakwater Capital Group grew its position in shares of Safehold by 13.4% during the second 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 increased its stake in shares of Safehold by 110.4% during the first quarter. Bank of America Corp DE now owns 337,284 shares of the company's stock worth $4,563,000 after buying an additional 177,001 shares during the period. Amundi raised its holdings in 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 raised its holdings in Safehold by 121.2% in 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 in the last quarter. Finally, Infrastructure Capital Advisors LLC lifted its stake in Safehold by 23.6% in the first quarter. Infrastructure Capital Advisors LLC now owns 57,833 shares of the company's stock worth $782,000 after acquiring an additional 11,050 shares during the last quarter. Hedge funds and other 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.

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