Safehold (NYSE:SAFE) Downgraded to Sell Rating by Wall Street Zen

Wall Street Zen downgraded shares of Safehold (NYSE:SAFE) from a hold rating to a sell rating in a report issued on Saturday morning.

A number of other analysts have also issued reports on SAFE. Truist Financial raised their target price on shares of Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday, February 18th. The Goldman Sachs Group reissued a “buy” rating on shares of Safehold in a research note on Saturday, November 22nd. Citigroup reaffirmed a “market outperform” rating on shares of Safehold in a research report on Monday, December 1st. Morgan Stanley cut shares of Safehold from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $16.00 to $14.00 in a research note on Thursday, January 22nd. Finally, Zacks Research upgraded Safehold from a “hold” rating to a “strong-buy” rating in a report on Monday, January 26th. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $19.33.

Safehold Stock Performance

Shares of SAFE opened at $13.77 on Friday. Safehold has a 12-month low of $12.76 and a 12-month high of $19.21. The stock has a market cap of $988.42 million, a P/E ratio of 8.61, a PEG ratio of 1.91 and a beta of 1.80. The company has a current ratio of 34.97, a quick ratio of 34.97 and a debt-to-equity ratio of 1.88. The company has a 50-day moving average of $15.05 and a two-hundred day moving average of $14.76.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.42 EPS for the quarter, meeting the consensus estimate of $0.42. The business had revenue of $97.87 million for the quarter, compared to analyst estimates of $96.71 million. Safehold had a net margin of 29.69% and a return on equity of 4.92%. As a group, research analysts predict that Safehold will post 1.58 EPS for the current fiscal year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st will be issued a $0.177 dividend. The ex-dividend date is Tuesday, March 31st. This represents a $0.71 dividend on an annualized basis and a yield of 5.1%. Safehold’s payout ratio is currently 44.38%.

Institutional Investors Weigh In On Safehold

A number of hedge funds have recently bought and sold shares of the business. Ameritas Investment Partners Inc. lifted its position in shares of Safehold by 13.8% during the second quarter. Ameritas Investment Partners Inc. now owns 5,735 shares of the company’s stock worth $89,000 after purchasing an additional 695 shares during the last quarter. Hantz Financial Services Inc. boosted its holdings in shares of Safehold by 39.9% in the 3rd quarter. Hantz Financial Services Inc. now owns 2,604 shares of the company’s stock valued at $40,000 after buying an additional 743 shares during the period. Franklin Resources Inc. grew its position in shares of Safehold by 5.6% during the 2nd quarter. Franklin Resources Inc. now owns 16,462 shares of the company’s stock valued at $256,000 after buying an additional 878 shares during the last quarter. Federation des caisses Desjardins du Quebec boosted its stake in Safehold by 25.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,429 shares of the company’s stock valued at $61,000 after acquiring an additional 908 shares during the period. Finally, Aberdeen Group plc boosted its position in Safehold by 4.9% during the 4th quarter. Aberdeen Group plc now owns 19,892 shares of the company’s stock valued at $272,000 after purchasing an additional 922 shares during the period. Institutional investors and hedge funds 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.