Principal Financial Group Inc. Sells 6,705 Shares of Safehold Inc. (NYSE:SAFE)

Principal Financial Group Inc. trimmed its stake in Safehold Inc. (NYSE:SAFE) by 3.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 215,957 shares of the company’s stock after selling 6,705 shares during the period. Principal Financial Group Inc.’s holdings in Safehold were worth $5,665,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SAFE. Long Pond Capital LP lifted its position in Safehold by 14.9% during the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after acquiring an additional 345,661 shares during the last quarter. State Street Corp lifted its position in shares of Safehold by 2.0% during the 3rd quarter. State Street Corp now owns 2,618,033 shares of the company’s stock worth $69,131,000 after purchasing an additional 51,035 shares during the last quarter. Geode Capital Management LLC boosted its stake in Safehold by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock valued at $32,734,000 after purchasing an additional 38,074 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Safehold by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after purchasing an additional 39,320 shares during the period. Finally, Sei Investments Co. grew its holdings in Safehold by 3.2% in the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock valued at $12,926,000 after buying an additional 20,483 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SAFE shares. Wedbush reiterated a “neutral” rating and set a $23.00 price target (down from $25.00) on shares of Safehold in a report on Monday, November 4th. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Thursday, September 19th. JMP Securities restated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a report on Tuesday, October 29th. Royal Bank of Canada increased their target price on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, The Goldman Sachs Group lowered 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. Four equities 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $28.22.

Safehold Trading Up 0.8 %

Shares of SAFE opened at $18.48 on Thursday. 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 stock has a market cap of $1.32 billion, a PE ratio of 10.87 and a beta of 1.66. Safehold Inc. has a 1 year low of $17.91 and a 1 year high of $28.80. The stock has a 50 day simple moving average of $20.61 and a 200-day simple moving average of $22.32.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. During the same period last year, the business earned $0.33 earnings per share. The business’s revenue was up 6.0% on a year-over-year basis. On average, sell-side analysts predict that Safehold Inc. will post 1.56 EPS for the current fiscal year.

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be given a $0.177 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a yield of 3.83%. Safehold’s dividend payout ratio (DPR) is presently 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.