Safehold (NYSE:SAFE) Raised to “Strong-Buy” at Zacks Research

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

Other equities research analysts have also issued research reports about the company. The Goldman Sachs Group restated a “buy” rating on shares of Safehold in a research note on Saturday, November 22nd. Cantor Fitzgerald set a $17.00 price target on shares of Safehold and gave the stock a “neutral” rating in a research report on Wednesday, October 1st. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Safehold in a report on Thursday, January 22nd. Mizuho increased their price objective on shares of Safehold from $14.00 to $15.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, Safehold presently has an average rating of “Hold” and a consensus target price of $19.00.

Safehold Price Performance

SAFE opened at $13.96 on Monday. Safehold has a twelve month low of $12.76 and a twelve month high of $19.53. The firm has a market cap of $1.00 billion, a price-to-earnings ratio of 8.89, a PEG ratio of 1.96 and a beta of 1.84. The company has a current ratio of 36.91, a quick ratio of 36.91 and a debt-to-equity ratio of 1.86. The company has a fifty day simple moving average of $13.97 and a 200 day simple moving average of $14.74.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Wednesday, November 5th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.01. The firm had revenue of $96.16 million for the quarter, compared to analyst estimates of $95.25 million. Safehold had a net margin of 29.67% and a return on equity of 4.78%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.37 EPS. Equities research analysts expect that Safehold will post 1.58 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SAFE. JPMorgan Chase & Co. boosted its stake in Safehold by 19.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 1,131,494 shares of the company’s stock valued at $17,606,000 after purchasing an additional 182,006 shares during the period. Summit Global Investments bought a new stake in Safehold during the 2nd quarter valued at $330,000. First Citizens Bank & Trust Co. boosted its position in Safehold by 200.9% during the 2nd quarter. First Citizens Bank & Trust Co. now owns 30,796 shares of the company’s stock worth $479,000 after acquiring an additional 20,561 shares during the period. GAMMA Investing LLC grew its stake in shares of Safehold by 117.2% in the second quarter. GAMMA Investing LLC now owns 3,923 shares of the company’s stock worth $61,000 after purchasing an additional 2,117 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Safehold by 5.2% in the second quarter. Geode Capital Management LLC now owns 1,341,663 shares of the company’s stock worth $20,878,000 after purchasing an additional 65,941 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors.

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.