JPMorgan Chase & Co. Buys 279,664 Shares of Safehold Inc. $SAFE

JPMorgan Chase & Co. grew its stake in shares of Safehold Inc. (NYSE:SAFE) by 24.7% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 1,411,158 shares of the company’s stock after buying an additional 279,664 shares during the quarter. JPMorgan Chase & Co.’s holdings in Safehold were worth $21,859,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of SAFE. Geode Capital Management LLC boosted its holdings in shares of Safehold by 5.2% during the 2nd quarter. Geode Capital Management LLC now owns 1,341,663 shares of the company’s stock valued at $20,878,000 after acquiring an additional 65,941 shares in the last quarter. Invesco Ltd. boosted its stake in shares of Safehold by 4.6% during the second quarter. Invesco Ltd. now owns 619,951 shares of the company’s stock valued at $9,646,000 after purchasing an additional 27,395 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Safehold by 0.6% during the second quarter. Bank of New York Mellon Corp now owns 434,234 shares of the company’s stock worth $6,757,000 after purchasing an additional 2,470 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Safehold by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company’s stock valued at $8,120,000 after buying an additional 15,280 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Safehold by 2.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 346,067 shares of the company’s stock valued at $6,478,000 after buying an additional 8,348 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SAFE. Truist Financial boosted their target price on shares of Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a report on Wednesday, February 18th. Mizuho boosted their price objective on shares of Safehold from $14.00 to $15.00 and gave the stock a “neutral” rating in a research note on Monday, January 12th. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Safehold in a research report on Thursday, January 22nd. Royal Bank Of Canada lifted their target price on Safehold from $17.00 to $18.00 and gave the stock an “outperform” rating in a report on Friday, February 20th. Finally, Citigroup reissued a “market outperform” rating on shares of Safehold in a research note on Monday, December 1st. One analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, Safehold has an average rating of “Hold” and a consensus price target of $19.22.

Safehold Price Performance

Shares of NYSE SAFE opened at $16.14 on Monday. The company has a market capitalization of $1.16 billion, a PE ratio of 10.09, a P/E/G ratio of 2.23 and a beta of 1.80. The company has a quick ratio of 34.97, a current ratio of 34.97 and a debt-to-equity ratio of 1.88. Safehold Inc. has a twelve month low of $12.76 and a twelve month high of $19.53. The firm has a fifty day simple moving average of $14.71 and a 200 day simple moving average of $14.85.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Wednesday, February 11th. The company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. Safehold had a return on equity of 4.92% and a net margin of 29.69%.The firm had revenue of $97.87 million during the quarter, compared to the consensus estimate of $96.71 million. On average, sell-side analysts forecast that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, January 15th. Shareholders of record on Tuesday, December 30th were issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date was Tuesday, December 30th. Safehold’s payout ratio is presently 44.38%.

Safehold Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.