Vanguard Group Inc. Increases Stake in Safehold Inc. (NYSE:SAFE)

Vanguard Group Inc. raised its holdings in Safehold Inc. (NYSE:SAFE) by 0.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 7,720,358 shares of the company’s stock after acquiring an additional 10,585 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Safehold worth $180,656,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of SAFE. Versant Capital Management Inc raised its stake in shares of Safehold by 197.7% in the fourth quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock valued at $33,000 after acquiring an additional 931 shares in the last quarter. GAMMA Investing LLC purchased a new position in shares of Safehold in the 4th quarter valued at about $33,000. Fifth Third Bancorp grew its position in shares of Safehold by 78.0% during the fourth quarter. Fifth Third Bancorp now owns 2,482 shares of the company’s stock worth $58,000 after buying an additional 1,088 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of Safehold by 195.8% during the third quarter. PNC Financial Services Group Inc. now owns 4,523 shares of the company’s stock worth $81,000 after buying an additional 2,994 shares during the period. Finally, abrdn plc acquired a new stake in Safehold in the fourth quarter valued at approximately $211,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Trading Up 1.6 %

SAFE opened at $18.79 on Thursday. The company has a quick ratio of 42.51, a current ratio of 42.51 and a debt-to-equity ratio of 1.78. Safehold Inc. has a 52 week low of $15.00 and a 52 week high of $26.33. The business’s 50 day moving average is $19.14 and its two-hundred day moving average is $20.19. The firm has a market cap of $1.34 billion, a price-to-earnings ratio of -41.76 and a beta of 1.65.

Safehold (NYSE:SAFE) last announced its earnings results on Monday, May 6th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. The business had revenue of $93.20 million for the quarter, compared to analysts’ expectations of $88.20 million. Safehold had a negative net margin of 7.87% and a positive return on equity of 4.43%. The company’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. On average, research analysts predict that Safehold Inc. will post 1.53 EPS for the current year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a $0.177 dividend. The ex-dividend date is Friday, June 28th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.77%. Safehold’s payout ratio is -157.78%.

Analysts Set New Price Targets

Several research analysts have commented on SAFE shares. JMP Securities reiterated a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Thursday, May 16th. Royal Bank of Canada dropped their target price on Safehold from $32.00 to $29.00 and set an “outperform” rating on the stock in a report on Wednesday, May 8th. Mizuho cut Safehold from a “buy” rating to a “neutral” rating and cut their price target for the company from $22.00 to $20.00 in a research note on Friday, May 10th. The Goldman Sachs Group upped their price objective on Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Finally, JPMorgan Chase & Co. decreased their target price on Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Safehold has a consensus rating of “Moderate Buy” and an average target price of $27.22.

About Safehold

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. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk.