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(Abridged) In a recent work we explored the dependence of galaxy stellarpopulation properties derived from broad-band spectral energy distributionfitting on the fitting parameters, e.g. SFHs, age grid, metallicity, IMF, dustreddening, reddening law, filter setup and wavelength coverage. In this paperwe consider also redshift as a free parameter in the fit and study whether onecan obtain reasonable estimates of photometric redshifts and stellar populationproperties at once. We use mock star-forming as well as passive galaxies placedat various redshifts (0.5 to 3) as test particles. Mock star-forming galaxiesare extracted from a semi-analytical galaxy formation model. We show that forhigh-z star-forming galaxies photometric redshifts, stellar masses andreddening can be determined simultaneously when using a broad wavelengthcoverage and a wide template setup in the fit. Masses are similarly wellrecovered (median ~ 0.2 dex) as at fixed redshift. For old galaxies with littlerecent star formation masses are better recovered than in the fixed redshiftcase, such that the median recovered stellar mass improves by up to 0.3 dexwhereas the uncertainty in the redshift accuracy increases by only ~ 0.05.However, a failure in redshift recovery also means a failure in mass recovery.As at fixed redshift mismatches in SFH and degeneracies between age, dust andnow also redshift cause underestimated ages, overestimated reddening andunderestimated masses. Stellar masses are best determined at low redshiftwithout reddening in the fit (median underestimation ~ 0.1 dex for similarlywell recovered redshifts). Not surprisingly, the recovery of properties issubstantially better for passive galaxies. In all cases, the recovery ofphysical parameters is crucially dependent on the wavelength coverage adoptedin the fitting. Scaling relations for the transformation of stellar masses areprovided.

Recovering galaxy stellar population properties from broad-band spectral energy distribution fitting II. The case with unknown redshift