Zacks Research Downgrades Safehold (NYSE:SAFE) to Strong Sell

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

SAFE has been the subject of a number of other research reports. The Goldman Sachs Group dropped their price objective on shares of Safehold from $27.00 to $23.00 and set a “buy” rating for the company in a report on Friday, May 15th. Wall Street Zen downgraded shares of Safehold from a “hold” rating to a “sell” rating in a report on Saturday, May 2nd. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Safehold in a report on Tuesday, April 21st. Royal Bank Of Canada downgraded shares of Safehold from a “market outperform” rating to a “sector perform” rating and cut their price target for the stock from $18.00 to $16.00 in a report on Friday, May 1st. Finally, Mizuho upped their price objective on shares of Safehold from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, March 11th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $18.75.

Safehold Stock Up 1.4%

Shares of NYSE SAFE opened at $15.19 on Wednesday. The firm has a market capitalization of $1.09 billion, a PE ratio of 9.55, a price-to-earnings-growth ratio of 1.91 and a beta of 1.86. The company has a current ratio of 35.58, a quick ratio of 35.59 and a debt-to-equity ratio of 1.91. Safehold has a 1 year low of $12.76 and a 1 year high of $17.16. The firm’s 50-day moving average is $14.73 and its 200-day moving average is $14.52.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.40 EPS for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). The business had revenue of $110.85 million during the quarter, compared to the consensus estimate of $96.51 million. Safehold had a return on equity of 4.78% and a net margin of 28.58%. Equities analysts expect that Safehold will post 1.64 EPS for the current year.

Hedge Funds Weigh In On Safehold

Institutional investors and hedge funds have recently made changes to their positions in the business. Addison Capital Co increased its holdings in shares of Safehold by 30.2% during the 4th quarter. Addison Capital Co now owns 179,465 shares of the company’s stock valued at $2,457,000 after purchasing an additional 41,600 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in Safehold by 24.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,411,158 shares of the company’s stock worth $21,859,000 after acquiring an additional 279,664 shares in the last quarter. Thrivent Financial for Lutherans grew its holdings in shares of Safehold by 92.8% during the third quarter. Thrivent Financial for Lutherans now owns 163,504 shares of the company’s stock worth $2,533,000 after buying an additional 78,686 shares in the last quarter. Gabelli Funds LLC purchased a new stake in shares of Safehold during the third quarter worth $3,343,000. Finally, Algert Global LLC grew its holdings in shares of Safehold by 137.4% during the third quarter. Algert Global LLC now owns 486,386 shares of the company’s stock worth $7,534,000 after buying an additional 281,478 shares in the last quarter. 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.