Rhumbline Advisers reduced its stake in Safehold Inc. (NYSE:SAFE) by 5.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 49,242 shares of the company’s stock after selling 3,091 shares during the period. Rhumbline Advisers owned 0.09% of Safehold worth $3,865,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. raised its stake in Safehold by 3.3% in the first quarter. Ameriprise Financial Inc. now owns 66,427 shares of the company’s stock worth $4,657,000 after buying an additional 2,100 shares in the last quarter. Alliancebernstein L.P. increased its stake in shares of Safehold by 29.8% during the first quarter. Alliancebernstein L.P. now owns 851,266 shares of the company’s stock valued at $59,674,000 after purchasing an additional 195,376 shares in the last quarter. BNP Paribas Arbitrage SA increased its stake in shares of Safehold by 111.3% during the first quarter. BNP Paribas Arbitrage SA now owns 7,659 shares of the company’s stock valued at $537,000 after purchasing an additional 4,034 shares in the last quarter. Harvest Fund Management Co. Ltd increased its stake in shares of Safehold by 69.2% during the first quarter. Harvest Fund Management Co. Ltd now owns 467 shares of the company’s stock valued at $32,000 after purchasing an additional 191 shares in the last quarter. Finally, Swiss National Bank increased its stake in shares of Safehold by 4.8% during the first quarter. Swiss National Bank now owns 30,300 shares of the company’s stock valued at $2,124,000 after purchasing an additional 1,400 shares in the last quarter. 25.61% of the stock is owned by institutional investors.
A number of equities analysts have weighed in on the stock. Zacks Investment Research downgraded shares of Safehold from a “hold” rating to a “sell” rating in a research note on Friday. Truist raised their target price on shares of Safehold from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, July 30th. Truist Securities raised their target price on shares of Safehold from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Saturday, July 31st. Finally, B. Riley reiterated a “buy” rating and set a $86.07 price target (down previously from $100.00) on shares of Safehold in a report on Tuesday, July 27th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $84.01.
Shares of SAFE stock opened at $80.60 on Friday. Safehold Inc. has a 12-month low of $52.06 and a 12-month high of $95.29. The firm’s 50 day moving average is $86.89 and its 200 day moving average is $77.65. The stock has a market capitalization of $4.30 billion, a P/E ratio of 68.89 and a beta of -0.47.
Safehold (NYSE:SAFE) last issued its earnings results on Thursday, July 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.33 by ($0.05). Safehold had a return on equity of 4.48% and a net margin of 36.87%. The company had revenue of $44.21 million during the quarter, compared to analysts’ expectations of $45.25 million. On average, analysts predict that Safehold Inc. will post 1.31 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Investors of record on Thursday, September 30th will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a yield of 0.84%. The ex-dividend date of this dividend is Wednesday, September 29th. Safehold’s dividend payout ratio is currently 58.12%.
Safehold Company Profile
Safehold Inc operates as a real estate investment trust, which focuses on acquiring, owning, managing and capitalizing ground leases. It seeks to provide safe & growing income, as well as capital appreciation to shareholders by building a diversified portfolio of ground leases. The firm’s property is generally leased on a triple net basis with the tenant responsible for taxes, maintenance and insurance, as well as all operating costs and capital expenditures.
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