KBC Group NV Raises Position in Safehold Inc. (NYSE:SAFE)

KBC Group NV grew its position in shares of Safehold Inc. (NYSE:SAFE) by 79.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 2,883 shares of the company’s stock after acquiring an additional 1,275 shares during the period. KBC Group NV’s holdings in Safehold were worth $76,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in SAFE. GAMMA Investing LLC grew its position in shares of Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after buying an additional 920 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its stake in Safehold by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after acquiring an additional 471 shares in the last quarter. ProShare Advisors LLC grew its holdings in Safehold by 7.5% in the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after purchasing an additional 676 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Safehold in the second quarter worth about $204,000. Finally, Quest Partners LLC bought a new position in shares of Safehold during the second quarter valued at approximately $225,000. Institutional investors own 70.38% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. The Goldman Sachs Group cut their price target on Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Royal Bank of Canada boosted their target price on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Mizuho raised their price target on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research report on Tuesday, October 29th. Finally, Truist Financial raised their price objective on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Safehold has an average rating of “Moderate Buy” and an average price target of $28.22.

Safehold Stock Performance

Shares of NYSE SAFE opened at $20.81 on Friday. The firm’s 50-day moving average price is $23.72 and its 200-day moving average price is $22.15. Safehold Inc. has a 52-week low of $17.91 and a 52-week high of $28.80. The company has a market cap of $1.49 billion, a PE ratio of 12.21 and a beta of 1.68. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE) last announced its earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The business had revenue of $90.70 million during the quarter, compared to analyst estimates of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.33 EPS. As a group, analysts anticipate that Safehold Inc. will post 1.56 EPS for the current year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 3.40%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio is 41.18%.

Safehold Company Profile

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.