Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in Safehold Inc. (NYSE:SAFE – Get Rating) during the third quarter, according to its most recent filing with the SEC. The firm purchased 2,935 shares of the company’s stock, valued at approximately $78,000.
A number of other institutional investors and hedge funds have also made changes to their positions in SAFE. Rockefeller Capital Management L.P. boosted its position in shares of Safehold by 495.9% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 1,460 shares of the company’s stock worth $38,000 after purchasing an additional 1,215 shares in the last quarter. FMR LLC boosted its position in shares of Safehold by 17.8% in the 2nd quarter. FMR LLC now owns 1,643 shares of the company’s stock worth $58,000 after purchasing an additional 248 shares in the last quarter. First Manhattan Co. acquired a new stake in shares of Safehold in the 1st quarter worth $81,000. Tower Research Capital LLC TRC boosted its position in shares of Safehold by 204.1% in the 3rd quarter. Tower Research Capital LLC TRC now owns 3,205 shares of the company’s stock worth $85,000 after purchasing an additional 2,151 shares in the last quarter. Finally, Mutual of America Capital Management LLC boosted its position in shares of Safehold by 27.6% in the 2nd quarter. Mutual of America Capital Management LLC now owns 2,600 shares of the company’s stock worth $92,000 after purchasing an additional 563 shares in the last quarter. 25.61% of the stock is currently owned by hedge funds and other institutional investors.
Analysts Set New Price Targets
Separately, Truist Financial lowered their price objective on Safehold from $46.00 to $33.00 and set a “hold” rating for the company in a research report on Friday, December 2nd. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, Safehold presently has a consensus rating of “Moderate Buy” and an average target price of $55.50.
Safehold Stock Performance
Safehold (NYSE:SAFE – Get Rating) last issued its quarterly earnings results on Tuesday, February 14th. The company reported $0.40 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.02. Safehold had a return on equity of 4.72% and a net margin of 50.10%. The company had revenue of $73.37 million during the quarter, compared to analysts’ expectations of $73.08 million. During the same quarter in the previous year, the firm posted $0.38 EPS. The firm’s revenue was up 41.1% compared to the same quarter last year. Analysts predict that Safehold Inc. will post 1.55 EPS for the current fiscal year.
Safehold Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were given a dividend of $0.177 per share. The ex-dividend date of this dividend was Thursday, December 29th. This represents a $0.71 dividend on an annualized basis and a yield of 2.35%. Safehold’s dividend payout ratio is currently 32.13%.
Safehold Company Profile
Safehold, Inc operates as a real estate investment trust, which focuses on acquiring, owning, managing and capitalizing ground leases. It seeks to provide safe & growing income, as well as capital appreciation to shareholders by building a diversified portfolio of ground leases. The firm’s property is generally leased on a triple net basis with the tenant responsible for taxes, maintenance and insurance, as well as all operating costs and capital expenditures.
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