Safehold (NYSE:SAFE) Now Covered by Raymond James Financial

Stock analysts at Raymond James Financial initiated coverage on shares of Safehold (NYSE:SAFE) in a research note issued to investors on Wednesday. The brokerage set a “market perform” rating on the stock.

Other analysts also recently issued reports about the company. The Goldman Sachs Group decreased their target price on Safehold from $27.00 to $23.00 and set a “buy” rating on the stock in a research report on Friday, May 15th. Cantor Fitzgerald reissued a “neutral” rating on shares of Safehold in a research note on Tuesday, August 4th. Zacks Research upgraded shares of Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Weiss Ratings raised shares of Safehold from a “hold (c-)” rating to a “hold (c)” rating in a report on Friday, July 31st. Finally, Royal Bank Of Canada lowered shares of Safehold from a “market outperform” rating to a “sector perform” rating and lowered their price target for the company from $18.00 to $16.00 in a research report on Friday, May 1st. Two equities research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $17.17.

Safehold Price Performance

NYSE:SAFE traded up $0.26 during trading hours on Wednesday, hitting $15.05. The company’s stock had a trading volume of 9,924 shares, compared to its average volume of 355,087. Safehold has a 52-week low of $12.76 and a 52-week high of $17.45. The company has a debt-to-equity ratio of 1.77, a quick ratio of 34.36 and a current ratio of 34.37. The business’s 50-day moving average is $16.00 and its two-hundred day moving average is $15.34. The company has a market capitalization of $1.07 billion, a PE ratio of 9.30, a PEG ratio of 4.52 and a beta of 1.75.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Thursday, July 30th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. Safehold had a net margin of 27.70% and a return on equity of 4.76%. The business had revenue of $114.65 million during the quarter, compared to the consensus estimate of $110.78 million. As a group, research analysts anticipate that Safehold will post 1.64 EPS for the current fiscal year.

Hedge Funds Weigh In On Safehold

Institutional investors and hedge funds have recently bought and sold shares of the stock. Long Pond Capital LP acquired a new stake in Safehold during the fourth quarter worth about $12,936,000. NewEdge Wealth LLC acquired a new position in shares of Safehold in the 2nd quarter valued at about $10,529,000. Bank of America Corp DE purchased a new stake in shares of Safehold during the 2nd quarter worth about $5,153,000. Denali Advisors LLC acquired a new stake in Safehold during the 2nd quarter worth approximately $4,861,000. Finally, Michelson Medical Research Foundation Inc. acquired a new stake in Safehold during the 2nd quarter worth approximately $4,629,000. 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.