NewEdge Wealth LLC Sells 170,714 Shares of Safehold Inc. (NYSE:SAFE)

NewEdge Wealth LLC reduced its stake in Safehold Inc. (NYSE:SAFE) by 6.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,343,360 shares of the company’s stock after selling 170,714 shares during the quarter. Safehold comprises 0.8% of NewEdge Wealth LLC’s holdings, making the stock its 27th largest position. NewEdge Wealth LLC’s holdings in Safehold were worth $43,305,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently bought and sold shares of SAFE. Allspring Global Investments Holdings LLC acquired a new position in shares of Safehold in the third quarter valued at approximately $335,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in Safehold by 35.4% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after purchasing an additional 471 shares during the period. abrdn plc acquired a new position in Safehold in the 3rd quarter valued at $271,000. First Trust Direct Indexing L.P. acquired a new position in Safehold in the 3rd quarter valued at $234,000. Finally, Angeles Wealth Management LLC increased its position in Safehold by 77.5% during the 3rd quarter. Angeles Wealth Management LLC now owns 53,817 shares of the company’s stock worth $1,412,000 after buying an additional 23,498 shares during the period. 70.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SAFE has been the subject of a number of recent research reports. Royal Bank of Canada boosted their target price on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. JMP Securities restated a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research report on Thursday, February 6th. Mizuho raised their target price on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. The Goldman Sachs Group cut their price target on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley lowered Safehold from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Safehold currently has a consensus rating of “Hold” and an average target price of $25.56.

Safehold Stock Performance

Shares of NYSE:SAFE opened at $17.97 on Thursday. Safehold Inc. has a 1 year low of $15.55 and a 1 year high of $28.80. The stock has a market capitalization of $1.28 billion, a price-to-earnings ratio of 12.14 and a beta of 1.66. The company has a debt-to-equity ratio of 1.82, a current ratio of 36.59 and a quick ratio of 36.59. The company’s 50 day simple moving average is $17.32 and its 200 day simple moving average is $21.25.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same period last year, the business posted $0.36 EPS. As a group, research analysts predict that Safehold Inc. will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were issued a $0.177 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.94%. Safehold’s dividend payout ratio (DPR) is currently 47.30%.

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.