Nisa Investment Advisors LLC lessened its position in shares of Safehold Inc. (NYSE:SAFE – Free Report) by 17.2% in the third quarter, HoldingsChannel.com reports. The firm owned 19,598 shares of the company’s stock after selling 4,076 shares during the quarter. Nisa Investment Advisors LLC’s holdings in Safehold were worth $518,000 at the end of the most recent quarter.
Several other hedge funds have also recently added to or reduced their stakes in SAFE. Vanguard Group Inc. lifted its stake in shares of Safehold by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock valued at $161,949,000 after purchasing an additional 141,245 shares during the period. Long Pond Capital LP lifted its stake in Safehold by 14.9% in the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after buying an additional 345,661 shares during the period. Sei Investments Co. boosted its holdings in shares of Safehold by 3.2% during the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock worth $12,926,000 after buying an additional 20,483 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Safehold by 7.9% during 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. Finally, Peregrine Capital Management LLC grew its position in shares of Safehold by 10.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock worth $7,443,000 after buying an additional 35,046 shares during the period. Institutional investors own 70.38% of the company’s stock.
Wall Street Analysts Forecast Growth
SAFE has been the topic of several research analyst reports. Mizuho increased their target price on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wedbush restated a “neutral” rating and issued a $23.00 target price (down from $25.00) on shares of Safehold in a research note on Monday. Royal Bank of Canada boosted their target price on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a report on Tuesday, October 29th. Finally, Truist Financial boosted their price objective on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat.com, Safehold presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.22.
Get Our Latest Stock Analysis on SAFE
Safehold Stock Down 2.5 %
Shares of NYSE:SAFE opened at $20.67 on Wednesday. The business’s 50 day moving average is $24.88 and its 200 day moving average is $22.03. Safehold Inc. has a 12-month low of $16.27 and a 12-month high of $28.80. The stock has a market cap of $1.48 billion, a price-to-earnings ratio of 12.16 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 – Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The business’s revenue for the quarter was up 6.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.33 EPS. On average, sell-side analysts forecast that Safehold Inc. will post 1.57 earnings per share for the current fiscal year.
Safehold Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a dividend of $0.177 per share. The ex-dividend date was Monday, September 30th. This represents a $0.71 annualized dividend and a dividend yield of 3.43%. Safehold’s dividend payout ratio is currently 41.18%.
Safehold Company Profile
(Free Report)
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.
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