Franklin Resources Inc. Has $407,000 Holdings in Safehold Inc. (NYSE:SAFE)

Franklin Resources Inc. grew its holdings in shares of Safehold Inc. (NYSE:SAFE) by 17.5% in the 3rd quarter, Holdings Channel reports. The fund owned 16,631 shares of the company’s stock after buying an additional 2,472 shares during the period. Franklin Resources Inc.’s holdings in Safehold were worth $407,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. GAMMA Investing LLC boosted its holdings in shares of Safehold by 108.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after acquiring an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Safehold by 35.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after purchasing an additional 471 shares during the last quarter. KBC Group NV boosted its stake in shares of Safehold by 79.3% during the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after purchasing an additional 1,275 shares in the last quarter. Vestcor Inc bought a new stake in shares of Safehold during the third quarter worth about $110,000. Finally, FMR LLC increased its stake in shares of Safehold by 24.9% in the third quarter. FMR LLC now owns 5,840 shares of the company’s stock valued at $153,000 after buying an additional 1,163 shares during the period. Institutional investors own 70.38% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Thursday, September 19th. Royal Bank of Canada lifted their price target on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Wedbush restated a “neutral” rating and issued a $23.00 price objective (down from $25.00) on shares of Safehold in a report on Monday, November 4th. Mizuho lifted their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, The Goldman Sachs Group decreased their price target on Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat, Safehold has a consensus rating of “Moderate Buy” and a consensus target price of $28.22.

Safehold Stock Performance

Shares of Safehold stock opened at $18.48 on Wednesday. The business has a 50-day moving average price of $20.71 and a two-hundred day moving average price of $22.35. Safehold Inc. has a 1-year low of $17.91 and a 1-year high of $28.80. The company has a current ratio of 37.83, a quick ratio of 37.83 and a debt-to-equity ratio of 1.85. The company has a market cap of $1.32 billion, a P/E ratio of 10.87 and a beta of 1.66.

Safehold (NYSE:SAFE) last released its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The business had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. During the same quarter last year, the firm posted $0.33 earnings per share. The firm’s revenue was up 6.0% on a year-over-year basis. As a group, analysts anticipate that Safehold Inc. will post 1.56 EPS for the current year.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be paid a $0.177 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.71 annualized dividend and a dividend yield of 3.83%. Safehold’s dividend payout ratio is currently 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.