Daiwa Securities Group Inc. Raises Stock Position in Safehold Inc. (NYSE:SAFE)

Daiwa Securities Group Inc. lifted its position in shares of Safehold Inc. (NYSE:SAFE) by 5.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 14,893 shares of the company’s stock after acquiring an additional 823 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Safehold were worth $391,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Angeles Wealth Management LLC purchased a new stake in Safehold during the second quarter worth $585,000. Victory Capital Management Inc. acquired a new position in shares of Safehold during the 3rd quarter worth $639,000. Bank of New York Mellon Corp boosted its position in shares of Safehold by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock worth $9,080,000 after buying an additional 34,404 shares in the last quarter. Toth Financial Advisory Corp acquired a new stake in Safehold in the 3rd quarter valued at about $766,000. Finally, Long Pond Capital LP grew its stake in Safehold by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after acquiring an additional 345,661 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on SAFE. The Goldman Sachs Group reduced their price target on shares of Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Wedbush reaffirmed a “neutral” rating and issued a $23.00 target price (down previously from $25.00) on shares of Safehold in a research note on Monday, November 4th. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a report on Thursday, September 19th. Truist Financial boosted their price target on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Tuesday, October 29th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $28.22.

Safehold Price Performance

SAFE stock opened at $21.36 on Friday. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 12.56 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 Inc. has a 52-week low of $17.91 and a 52-week high of $28.80. The stock’s fifty day simple moving average is $23.00 and its 200-day simple moving average is $22.21.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the company earned $0.33 EPS. Equities research analysts expect that Safehold Inc. will post 1.56 EPS for the current year.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 3.31%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio (DPR) is 41.18%.

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.