Principal Financial Group Inc. Increases Stock Position in Safehold Inc. (NYSE:SAFE)

Principal Financial Group Inc. grew its position in Safehold Inc. (NYSE:SAFEFree Report) by 54.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 231,008 shares of the company’s stock after purchasing an additional 81,756 shares during the period. Principal Financial Group Inc. owned about 1.66% of Safehold worth $6,237,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in SAFE. NewEdge Wealth LLC increased its holdings in Safehold by 45.6% during the first quarter. NewEdge Wealth LLC now owns 2,813,990 shares of the company’s stock worth $82,647,000 after buying an additional 881,858 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Safehold by 24.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,241,562 shares of the company’s stock worth $64,154,000 after buying an additional 443,049 shares during the last quarter. Norges Bank purchased a new stake in Safehold during the fourth quarter worth about $10,320,000. Price T Rowe Associates Inc. MD increased its holdings in Safehold by 11.1% during the second quarter. Price T Rowe Associates Inc. MD now owns 1,797,511 shares of the company’s stock worth $63,578,000 after buying an additional 179,541 shares during the last quarter. Finally, State Street Corp increased its holdings in Safehold by 21.5% during the first quarter. State Street Corp now owns 982,513 shares of the company’s stock worth $54,645,000 after buying an additional 173,541 shares during the last quarter. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Insider Buying and Selling at Safehold

In related news, CEO Jay Sugarman bought 65,420 shares of the company’s stock in a transaction on Tuesday, August 8th. The stock was acquired at an average cost of $21.40 per share, for a total transaction of $1,399,988.00. Following the completion of the transaction, the chief executive officer now directly owns 156,446 shares in the company, valued at approximately $3,347,944.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 4.50% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on SAFE. Royal Bank of Canada decreased their price objective on shares of Safehold from $41.00 to $38.00 and set an “outperform” rating for the company in a report on Monday, August 14th. The Goldman Sachs Group initiated coverage on shares of Safehold in a research report on Wednesday, August 23rd. They set a “buy” rating and a $25.00 target price for the company. Mizuho cut their target price on shares of Safehold from $31.00 to $25.00 in a research report on Thursday, August 10th. Finally, Truist Financial cut their target price on shares of Safehold from $31.00 to $24.00 and set a “hold” rating for the company in a research report on Monday, August 21st. Two analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $29.83.

Check Out Our Latest Analysis on SAFE

Safehold Price Performance

SAFE stock opened at $21.28 on Friday. The firm has a 50 day moving average of $22.91 and a 200-day moving average of $26.23. The company has a current ratio of 39.19, a quick ratio of 39.19 and a debt-to-equity ratio of 1.78. Safehold Inc. has a 12 month low of $19.51 and a 12 month high of $41.51. The firm has a market capitalization of $1.36 billion, a P/E ratio of -4.29 and a beta of 1.30.

Safehold (NYSE:SAFEGet Free Report) last released its quarterly earnings data on Tuesday, August 1st. The company reported $0.35 EPS for the quarter, missing analysts’ consensus estimates of $0.36 by ($0.01). Safehold had a negative net margin of 14.88% and a positive return on equity of 0.35%. The firm had revenue of $85.70 million during the quarter, compared to the consensus estimate of $82.90 million. During the same quarter last year, the business posted ($4.00) earnings per share. Safehold’s revenue was up 41.9% compared to the same quarter last year. As a group, sell-side analysts predict that Safehold Inc. will post 1.49 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Shareholders of record on Friday, June 30th were given a dividend of $0.177 per share. The ex-dividend date was Thursday, June 29th. This represents a $0.71 annualized dividend and a yield of 3.33%. Safehold’s payout ratio is presently -14.33%.

Safehold Profile

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Safehold (NYSE:SAFE)

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