Swiss National Bank Increases Position in Safehold Inc. (NYSE:SAFE)

Swiss National Bank boosted its holdings in Safehold Inc. (NYSE:SAFE) by 40.5% during the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 83,114 shares of the company’s stock after purchasing an additional 23,972 shares during the quarter. Swiss National Bank owned about 0.60% of Safehold worth $2,441,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Capstone Investment Advisors LLC bought a new position in shares of Safehold in the first quarter worth approximately $2,937,000. Principal Financial Group Inc. lifted its stake in shares of Safehold by 54.8% in the first quarter. Principal Financial Group Inc. now owns 231,008 shares of the company’s stock worth $6,237,000 after buying an additional 81,756 shares in the last quarter. Tower Research Capital LLC TRC lifted its stake in shares of Safehold by 454.9% in the first quarter. Tower Research Capital LLC TRC now owns 4,339 shares of the company’s stock worth $117,000 after buying an additional 3,557 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. lifted its stake in shares of Safehold by 49.9% in the first quarter. Meiji Yasuda Asset Management Co Ltd. now owns 11,336 shares of the company’s stock worth $333,000 after buying an additional 3,774 shares in the last quarter. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Safehold by 63.9% in the first quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 42,530 shares of the company’s stock worth $1,249,000 after buying an additional 16,574 shares in the last quarter. Hedge funds and other institutional investors own 71.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on SAFE shares. The Goldman Sachs Group started coverage on shares of Safehold in a research report on Wednesday, August 23rd. They issued a “buy” rating and a $25.00 price target on the stock. Truist Financial decreased their price target on shares of Safehold from $31.00 to $24.00 and set a “hold” rating on the stock in a research report on Monday, August 21st. Royal Bank of Canada decreased their price target on shares of Safehold from $41.00 to $38.00 and set an “outperform” rating on the stock in a research report on Monday, August 14th. Finally, Mizuho reduced their price objective on shares of Safehold from $31.00 to $25.00 in a research note on Thursday, August 10th. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, Safehold has a consensus rating of “Moderate Buy” and a consensus price target of $29.83.

Safehold Stock Performance

SAFE opened at $19.35 on Wednesday. The stock has a market capitalization of $1.24 billion, a price-to-earnings ratio of -3.91 and a beta of 1.32. The company has a fifty day moving average of $22.74 and a 200 day moving average of $25.85. Safehold Inc. has a fifty-two week low of $19.35 and a fifty-two week high of $40.69. The company has a debt-to-equity ratio of 1.78, a quick ratio of 39.19 and a current ratio of 39.19.

Safehold (NYSE:SAFE) last posted its earnings results on Tuesday, August 1st. The company reported $0.35 earnings per share for the quarter, missing the consensus estimate of $0.36 by ($0.01). The company had revenue of $85.70 million for the quarter, compared to analysts’ expectations of $82.90 million. Safehold had a negative net margin of 14.88% and a positive return on equity of 0.35%. The business’s revenue was up 41.9% on a year-over-year basis. During the same period in the previous year, the business posted ($4.00) earnings per share. As a group, sell-side analysts forecast that Safehold Inc. will post 1.49 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, July 14th. Investors of record on Friday, June 30th were paid a dividend of $0.177 per share. The ex-dividend date of this dividend was Thursday, June 29th. This represents a $0.71 annualized dividend and a yield of 3.66%. Safehold’s payout ratio is -14.33%.

Insider Activity at Safehold

In other Safehold news, CEO Jay Sugarman acquired 65,420 shares of the stock in a transaction on Tuesday, August 8th. The stock was acquired at an average price 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 of the company’s stock, valued at $3,347,944.40. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 4.50% of the stock is currently owned by corporate insiders.

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.