Peregrine Capital Management LLC Has $5.04 Million Stock Holdings in Safehold Inc. $SAFE

Peregrine Capital Management LLC trimmed its stake in Safehold Inc. (NYSE:SAFE) by 3.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 324,087 shares of the company’s stock after selling 12,467 shares during the quarter. Peregrine Capital Management LLC owned about 0.45% of Safehold worth $5,043,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in Safehold by 3.7% in the first quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company’s stock worth $8,120,000 after purchasing an additional 15,280 shares during the period. Strs Ohio acquired a new stake in Safehold in the first quarter worth $555,000. New York State Teachers Retirement System grew its holdings in Safehold by 12.1% in the first quarter. New York State Teachers Retirement System now owns 51,068 shares of the company’s stock worth $956,000 after purchasing an additional 5,509 shares during the period. Vanguard Group Inc. grew its holdings in Safehold by 1.2% in the first quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company’s stock worth $146,352,000 after purchasing an additional 93,236 shares during the period. Finally, Cubist Systematic Strategies LLC grew its holdings in shares of Safehold by 48.6% during the first quarter. Cubist Systematic Strategies LLC now owns 64,744 shares of the company’s stock valued at $1,212,000 after buying an additional 21,187 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on SAFE shares. JPMorgan Chase & Co. reduced their price objective on shares of Safehold from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Mizuho lifted their price objective on shares of Safehold from $16.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, September 11th. Cantor Fitzgerald set a $17.00 price objective on shares of Safehold and gave the company a “neutral” rating in a report on Wednesday, October 1st. JMP Securities reduced their price objective on shares of Safehold from $32.00 to $28.00 and set a “market outperform” rating for the company in a report on Tuesday, August 12th. Finally, Truist Financial reduced their price objective on shares of Safehold from $18.00 to $16.00 and set a “hold” rating for the company in a report on Thursday, September 11th. Three research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $19.89.

Safehold Stock Down 1.1%

Safehold stock opened at $15.63 on Wednesday. Safehold Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $23.90. The stock has a market cap of $1.12 billion, a PE ratio of 10.93, a price-to-earnings-growth ratio of 1.42 and a beta of 1.85. The firm’s 50-day simple moving average is $15.82 and its 200 day simple moving average is $15.40. The company has a debt-to-equity ratio of 1.85, a quick ratio of 36.02 and a current ratio of 36.02.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Tuesday, May 3rd. The company reported $0.30 earnings per share for the quarter. The business had revenue of $50.20 million for the quarter. Safehold had a net margin of 27.45% and a return on equity of 4.70%. Research analysts predict that Safehold Inc. will post 1.58 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were given a $0.177 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.71 annualized dividend and a yield of 4.5%. Safehold’s payout ratio is currently 49.65%.

Safehold 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.