Quest Partners LLC Decreases Stake in Safehold Inc. (NYSE:SAFE)

Quest Partners LLC cut its stake in shares of Safehold Inc. (NYSE:SAFE) by 25.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,641 shares of the company’s stock after selling 3,013 shares during the quarter. Quest Partners LLC’s holdings in Safehold were worth $227,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in the company. Thrivent Financial for Lutherans grew its stake in Safehold by 140.9% during the 3rd quarter. Thrivent Financial for Lutherans now owns 89,996 shares of the company’s stock valued at $2,361,000 after purchasing an additional 52,636 shares during the last quarter. Natixis Advisors LLC boosted its position in Safehold by 2.9% in the third quarter. Natixis Advisors LLC now owns 70,503 shares of the company’s stock valued at $1,849,000 after buying an additional 2,011 shares during the last quarter. KBC Group NV increased its holdings in Safehold by 79.3% in the 3rd quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after buying an additional 1,275 shares during the period. Victory Capital Management Inc. purchased a new position in Safehold during the 3rd quarter worth approximately $639,000. Finally, Sumitomo Mitsui Trust Group Inc. lifted its stake in Safehold by 8.0% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 51,190 shares of the company’s stock valued at $1,343,000 after acquiring an additional 3,812 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Safehold Trading Down 2.6 %

Shares of NYSE:SAFE opened at $20.65 on Wednesday. The business’s 50 day moving average price is $23.49 and its 200-day moving average price is $22.20. Safehold Inc. has a 1 year low of $17.91 and a 1 year high of $28.80. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of 12.14 and a beta of 1.68. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83.

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

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.43%. The ex-dividend date was Monday, September 30th. Safehold’s dividend payout ratio is presently 41.18%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SAFE. Mizuho increased their price objective 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 reissued a “neutral” rating and issued a $23.00 price objective (down previously from $25.00) on shares of Safehold in a report on Monday, November 4th. Truist Financial upped their target price on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada boosted their price target on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Finally, Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research note on Thursday, September 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.22.

Safehold Company Profile

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.