Safehold Inc. (NYSE:SAFE) Shares Sold by Illinois Municipal Retirement Fund

Illinois Municipal Retirement Fund lowered its position in shares of Safehold Inc. (NYSE:SAFE) by 6.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 24,502 shares of the company’s stock after selling 1,728 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Safehold were worth $573,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of Safehold by 11.8% during the third quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock valued at $137,234,000 after acquiring an additional 816,033 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Safehold by 20.4% in the third quarter. Charles Schwab Investment Management Inc. now owns 572,894 shares of the company’s stock valued at $10,198,000 after purchasing an additional 97,166 shares during the last quarter. Mesirow Institutional Investment Management Inc. increased its holdings in shares of Safehold by 3.9% in the third quarter. Mesirow Institutional Investment Management Inc. now owns 497,696 shares of the company’s stock valued at $8,859,000 after purchasing an additional 18,730 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Safehold by 6.6% in the third quarter. Bank of New York Mellon Corp now owns 421,911 shares of the company’s stock valued at $7,510,000 after purchasing an additional 26,078 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in shares of Safehold by 3.0% in the third quarter. State of New Jersey Common Pension Fund D now owns 257,500 shares of the company’s stock valued at $4,584,000 after purchasing an additional 7,500 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on SAFE. JMP Securities began coverage on Safehold in a report on Tuesday, January 23rd. They issued an “outperform” rating and a $35.00 price target for the company. Royal Bank of Canada cut their price target on Safehold from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Mizuho cut their price target on Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a report on Thursday, March 7th. Jefferies Financial Group started coverage on Safehold in a research report on Thursday, January 4th. They issued a “buy” rating and a $33.00 price objective for the company. Finally, The Goldman Sachs Group increased their price objective on Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.40.

Safehold Trading Down 2.7 %

SAFE opened at $18.24 on Wednesday. Safehold Inc. has a 52 week low of $15.00 and a 52 week high of $29.11. The business has a fifty day simple moving average of $19.85 and a 200-day simple moving average of $19.98. The firm has a market cap of $1.30 billion, a P/E ratio of -22.51 and a beta of 1.46. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Monday, February 12th. The company reported $0.36 EPS for the quarter, topping the consensus estimate of $0.35 by $0.01. The business had revenue of $103.00 million during the quarter, compared to analyst estimates of $84.89 million. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The company’s quarterly revenue was up 40.3% on a year-over-year basis. During the same period last year, the business posted ($6.00) earnings per share. On average, equities analysts expect that Safehold Inc. will post 1.53 earnings per share for the current year.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 3.88%. The ex-dividend date was Wednesday, March 27th. Safehold’s payout ratio is currently -87.65%.

About Safehold

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.