Zacks Investment Research upgraded shares of Safehold (NYSE:SAFE) from a hold rating to a strong-buy rating in a report published on Saturday, Zacks.com reports. The brokerage currently has $33.00 price objective 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. “
A number of other research analysts also recently weighed in on the company. TheStreet upgraded Safehold from a c rating to a b- rating in a report on Wednesday, August 7th. ValuEngine downgraded Safehold from a buy rating to a hold rating in a report on Thursday, August 1st. Finally, Barclays downgraded Safehold from an overweight rating to an underweight rating and upped their target price for the stock from $23.00 to $25.00 in a report on Tuesday, July 30th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, one has given a hold rating and one has assigned a strong buy rating to the company. The company currently has an average rating of Hold and an average price target of $25.50.
Safehold (NYSE:SAFE) last released its quarterly earnings results on Friday, July 26th. The company reported $0.18 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 business had revenue of $19.68 million for the quarter, compared to the consensus estimate of $19.77 million. On average, research analysts expect that Safehold will post 1.14 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were paid a $0.156 dividend. The ex-dividend date was Thursday, June 27th. This represents a $0.62 annualized dividend and a dividend yield of 2.14%. This is an increase from Safehold’s previous quarterly dividend of $0.15. Safehold’s dividend payout ratio is presently 96.88%.
In related news, major shareholder Istar Inc. purchased 10,000 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were bought at an average price of $28.30 per share, for a total transaction of $283,000.00. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Insiders purchased a total of 279,657 shares of company stock worth $8,484,492 in the last 90 days. 1.47% of the stock is currently owned by company insiders.
Several institutional investors have recently bought and sold shares of SAFE. BNP Paribas Arbitrage SA purchased a new stake in Safehold during the 2nd quarter valued at $36,000. Nisa Investment Advisors LLC boosted its stake in Safehold by 83.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,561 shares of the company’s stock valued at $47,000 after purchasing an additional 711 shares during the last quarter. Optimum Investment Advisors purchased a new stake in Safehold during the 2nd quarter valued at $103,000. Bessemer Group Inc. purchased a new stake in Safehold during the 2nd quarter valued at $184,000. Finally, Acadian Asset Management LLC boosted its stake in Safehold by 49.4% during the 2nd quarter. Acadian Asset Management LLC now owns 7,446 shares of the company’s stock valued at $225,000 after purchasing an additional 2,462 shares during the last quarter. Institutional investors own 19.74% 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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