Public Employees Retirement System of Ohio Purchases Shares of 63,499 Safehold Inc. $SAFE

Public Employees Retirement System of Ohio acquired a new stake in shares of Safehold Inc. (NYSE:SAFE) in the second quarter, Holdings Channel.com reports. The fund acquired 63,499 shares of the company’s stock, valued at approximately $997,000.

Other large investors have also modified their holdings of the company. Legal & General Group Plc acquired a new stake in shares of Safehold during the second quarter worth $4,603,000. BlackRock Inc. boosted its position in shares of Safehold by 2.1% in the 2nd quarter. BlackRock Inc. now owns 9,938,575 shares of the company’s stock valued at $156,036,000 after purchasing an additional 200,628 shares during the period. Man Group plc acquired a new position in shares of Safehold in the 2nd quarter valued at $1,540,000. Infrastructure Capital Advisors LLC purchased a new position in Safehold in the 2nd quarter worth about $1,138,000. Finally, Hsbc Holdings PLC purchased a new position in Safehold in the 2nd quarter worth about $1,726,000. 70.38% of the stock is owned by institutional investors.

Safehold Stock Down 3.0%

NYSE:SAFE opened at $14.67 on Wednesday. The firm has a market capitalization of $1.04 billion, a price-to-earnings ratio of 9.06, a PEG ratio of 4.51 and a beta of 1.73. Safehold Inc. has a 1-year low of $12.76 and a 1-year high of $17.45. The company has a current ratio of 34.37, a quick ratio of 34.36 and a debt-to-equity ratio of 1.77. The business’s fifty day moving average price is $15.87 and its 200 day moving average price is $15.37.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.42 EPS for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $114.65 million during the quarter, compared to analyst estimates of $110.78 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. On average, sell-side analysts forecast that Safehold Inc. will post 1.64 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.177 per share. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.8%. Safehold’s payout ratio is presently 43.83%.

Wall Street Analysts Forecast Growth

SAFE has been the subject of a number of analyst reports. Weiss Ratings raised shares of Safehold from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Wall Street Zen raised shares of Safehold from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. The Goldman Sachs Group cut their price target on shares of Safehold from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Zacks Research upgraded shares of Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Raymond James Financial initiated coverage on shares of Safehold in a research note on Wednesday, August 19th. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, Safehold presently has a consensus rating of “Hold” and a consensus price target of $17.17.

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.