Safehold (SAFE) – Analysts’ Recent Ratings Changes

Several analysts have recently updated their ratings and price targets for Safehold (NYSE: SAFE):

  • 8/2/2019 – Safehold was upgraded by analysts at Zacks Investment Research from a “strong sell” rating to a “strong-buy” rating. They now have a $38.00 price target on the stock. According to Zacks, “Safety, Income and Growth, Inc. acquires, owns, manages, finances and capitalizes ground net leases. Safety, Income and Growth, Inc. is based in New York, United States. “
  • 8/1/2019 – Safehold was downgraded by analysts at ValuEngine from a “buy” rating to a “hold” rating.
  • 7/31/2019 – Safehold was downgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong sell” rating. According to Zacks, “Safety, Income and Growth, Inc. acquires, owns, manages, finances and capitalizes ground net leases. Safety, Income and Growth, Inc. is based in New York, United States. “
  • 7/30/2019 – Safehold was downgraded by analysts at Barclays PLC from an “overweight” rating to an “underweight” rating. They now have a $25.00 price target on the stock, up previously from $23.00. They noted that the move was a valuation call. They noted that the move was a valuation call.
  • 7/3/2019 – Safehold was downgraded by analysts at Zacks Investment Research from a “strong-buy” rating to a “hold” rating. According to Zacks, “Safety, Income and Growth, Inc. acquires, owns, manages, finances and capitalizes ground net leases. Safety, Income and Growth, Inc. is based in New York, United States. “
  • 6/26/2019 – Safehold was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $33.00 price target on the stock. According to Zacks, “Safety, Income and Growth, Inc. acquires, owns, manages, finances and capitalizes ground net leases. Safety, Income and Growth, Inc. is based in New York, United States. “

Shares of NYSE:SAFE traded down $0.17 during trading on Tuesday, reaching $32.41. The stock had a trading volume of 1,363 shares, compared to its average volume of 83,641. The firm’s fifty day moving average is $31.48. The firm has a market cap of $1.01 billion, a PE ratio of 50.64 and a beta of 0.26. Safehold Inc has a fifty-two week low of $16.13 and a fifty-two week high of $34.14.

Safehold (NYSE:SAFE) last released its earnings results on Friday, July 26th. The company reported $0.18 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.30 by ($0.12). Safehold had a net margin of 32.29% and a return on equity of 4.57%. The company had revenue of $19.68 million during the quarter, compared to analysts’ expectations of $19.77 million. Equities analysts expect that Safehold Inc will post 1.14 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.156 dividend. This represents a $0.62 dividend on an annualized basis and a yield of 1.93%. This is an increase from Safehold’s previous quarterly dividend of $0.15. The ex-dividend date of this dividend was Thursday, June 27th. Safehold’s payout ratio is presently 96.88%.

In related news, major shareholder Istar Inc. bought 9,730 shares of the stock in a transaction that occurred on Friday, August 2nd. The stock was purchased at an average cost of $33.34 per share, for a total transaction of $324,398.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last 90 days, insiders purchased 293,433 shares of company stock valued at $8,853,729. 1.47% of the stock is owned by insiders.

A number of institutional investors have recently added to or reduced their stakes in the stock. FMR LLC grew its holdings in Safehold by 7.7% in the first quarter. FMR LLC now owns 484,299 shares of the company’s stock valued at $10,563,000 after purchasing an additional 34,628 shares during the period. BlackRock Inc. grew its stake in Safehold by 3.0% during the fourth quarter. BlackRock Inc. now owns 467,310 shares of the company’s stock worth $8,789,000 after buying an additional 13,408 shares during the period. Geode Capital Management LLC grew its stake in Safehold by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 88,180 shares of the company’s stock worth $1,658,000 after buying an additional 4,371 shares during the period. Northern Trust Corp grew its stake in Safehold by 1.1% during the fourth quarter. Northern Trust Corp now owns 86,502 shares of the company’s stock worth $1,627,000 after buying an additional 900 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in Safehold by 1.4% during the fourth quarter. Bank of New York Mellon Corp now owns 72,012 shares of the company’s stock worth $1,355,000 after buying an additional 1,004 shares during the period. Hedge funds and other institutional investors own 33.31% of the company’s stock.

Safehold Inc (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

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