Safehold (NYSE:SAFE) Rating Lowered to “Market Perform” at Citizens Jmp

Safehold (NYSE:SAFE) was downgraded by stock analysts at Citizens Jmp from an “outperform” rating to a “market perform” rating in a research note issued to investors on Wednesday, October 14th, MarketBeat.com reports.

SAFE has been the topic of a number of other research reports. Royal Bank Of Canada lowered their target price on shares of Safehold from $16.00 to $13.00 and set a “sector perform” rating on the stock in a report on Friday, October 9th. JPMorgan Chase & Co. lowered shares of Safehold from a “neutral” rating to an “underweight” rating and set a $14.00 target price on the stock. in a report on Thursday, September 24th. Zacks Research upgraded shares of Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Cantor Fitzgerald restated a “neutral” rating on shares of Safehold in a research report on Tuesday, August 4th. Finally, Wall Street Zen upgraded shares of Safehold from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, Safehold currently has an average rating of “Hold” and an average target price of $14.17.

Safehold Stock Down 3.7%

SAFE stock traded down $0.43 during midday trading on Wednesday, hitting $10.94. The company’s stock had a trading volume of 1,084,825 shares, compared to its average volume of 410,871. Safehold has a 52-week low of $10.61 and a 52-week high of $17.45. The firm has a 50-day simple moving average of $13.22 and a 200-day simple moving average of $14.76. The company has a quick ratio of 34.36, a current ratio of 34.37 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $775.05 million, a P/E ratio of 6.76, a PEG ratio of 3.37 and a beta of 1.78.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The business had revenue of $114.65 million for the quarter, compared to analysts’ expectations of $110.78 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. As a group, equities analysts forecast that Safehold will post 1.63 EPS for the current year.

Insiders Place Their Bets

In other news, Director Robin Josephs sold 9,500 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $14.56, for a total transaction of $138,320.00. Following the completion of the transaction, the director directly owned 89,068 shares in the company, valued at approximately $1,296,830.08. This represents a 9.64% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders own 3.80% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Safehold by 2.1% during the 2nd quarter. BlackRock Inc. now owns 9,938,575 shares of the company’s stock valued at $156,036,000 after acquiring an additional 200,628 shares during the period. NewEdge Wealth LLC bought a new position in shares of Safehold during the second quarter valued at approximately $10,529,000. Bank of New York Mellon Corp lifted its stake in shares of Safehold by 4.0% during the second quarter. Bank of New York Mellon Corp now owns 411,971 shares of the company’s stock worth $6,468,000 after buying an additional 16,016 shares during the period. Bank of America Corp DE acquired a new position in Safehold during the second quarter worth about $5,153,000. Finally, Denali Advisors LLC acquired a new position in shares of Safehold during the second quarter worth $4,861,000. 70.38% of the stock is currently owned by institutional investors.

About Safehold

Safehold Inc (NYSE: SAFE) is a real estate investment trust that owns and manages ground leases for commercial, multifamily, and other income-producing properties. Under a ground lease, Safehold owns the land beneath a building while the property owner leases the land for a long term and retains ownership of the improvements on it.

The company’s business model is designed to provide property owners with access to capital while allowing them to maintain control of their buildings. Safehold’s ground lease investments are generally structured as long-duration leases that can support the development, acquisition, refinancing, or recapitalization of real estate assets.