Texas Permanent School Fund Corp reduced its stake in shares of Safehold Inc. (NYSE:SAFE – Free Report) by 1.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 35,454 shares of the company’s stock after selling 567 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Safehold were worth $841,000 at the end of the most recent reporting period.
Other hedge funds have also added to or reduced their stakes in the company. Principal Financial Group Inc. boosted its holdings in shares of Safehold by 54.8% during the 1st quarter. Principal Financial Group Inc. now owns 231,008 shares of the company’s stock valued at $6,237,000 after buying an additional 81,756 shares in the last quarter. Handelsbanken Fonder AB bought a new position in Safehold in the 2nd quarter worth about $245,000. Asset Management One Co. Ltd. boosted its stake in Safehold by 521.4% in the 2nd quarter. Asset Management One Co. Ltd. now owns 66,687 shares of the company’s stock worth $1,582,000 after purchasing an additional 55,956 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Safehold by 173.3% in the 1st quarter. Public Sector Pension Investment Board now owns 174,176 shares of the company’s stock worth $5,116,000 after purchasing an additional 110,437 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D boosted its stake in Safehold by 29.9% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 250,000 shares of the company’s stock worth $5,932,000 after purchasing an additional 57,500 shares in the last quarter. 71.44% of the stock is owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
SAFE has been the topic of a number of analyst reports. Truist Financial dropped their price target on shares of Safehold from $31.00 to $24.00 and set a “hold” rating on the stock in a research note on Monday, August 21st. B. Riley dropped their price target on shares of Safehold from $44.00 to $40.00 and set a “buy” rating on the stock in a research note on Wednesday, September 6th. TheStreet lowered Safehold from a “c-” rating to a “d” rating in a research report on Wednesday, November 1st. Royal Bank of Canada decreased their target price on Safehold from $38.00 to $33.00 and set an “outperform” rating for the company in a research report on Tuesday, November 7th. Finally, Mizuho decreased their target price on Safehold from $31.00 to $25.00 in a research report on Thursday, August 10th. Two research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, Safehold presently has an average rating of “Moderate Buy” and a consensus price target of $28.14.
Safehold Price Performance
NYSE SAFE opened at $18.87 on Tuesday. Safehold Inc. has a 52 week low of $15.00 and a 52 week high of $36.76. The firm has a market capitalization of $1.34 billion, a P/E ratio of -2.47 and a beta of 1.37. The company has a quick ratio of 38.91, a current ratio of 38.91 and a debt-to-equity ratio of 1.71. The company has a 50-day moving average price of $17.30 and a 200-day moving average price of $21.48.
Safehold (NYSE:SAFE – Get Free Report) last released its quarterly earnings results on Tuesday, October 31st. The company reported $0.33 EPS for the quarter, missing the consensus estimate of $0.35 by ($0.02). Safehold had a negative net margin of 63.25% and a negative return on equity of 0.28%. The business had revenue of $85.60 million for the quarter, compared to analysts’ expectations of $84.58 million. During the same period in the previous year, the company earned $2.06 EPS. Safehold’s revenue for the quarter was up 19.4% compared to the same quarter last year. Equities research analysts anticipate that Safehold Inc. will post 1.27 earnings per share for the current year.
Safehold Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 3.75%. The ex-dividend date of this dividend was Thursday, September 28th. Safehold’s payout ratio is currently -9.16%.
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.
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