Bank of New York Mellon Corp Has $9.39 Million Position in Safehold Inc. (NYSE:SAFE)

Bank of New York Mellon Corp lessened its position in Safehold Inc. (NYSE:SAFE) by 16.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,833 shares of the company’s stock after selling 77,695 shares during the period. Bank of New York Mellon Corp owned 0.62% of Safehold worth $9,393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of SAFE. Principal Financial Group Inc. increased 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 valued at $6,237,000 after buying an additional 81,756 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of Safehold by 521.4% in the second quarter. Asset Management One Co. Ltd. now owns 66,687 shares of the company’s stock valued at $1,582,000 after buying an additional 55,956 shares during the period. Public Sector Pension Investment Board boosted its position in shares of Safehold by 173.3% during the 1st quarter. Public Sector Pension Investment Board now owns 174,176 shares of the company’s stock valued at $5,116,000 after purchasing an additional 110,437 shares in the last quarter. State of New Jersey Common Pension Fund D boosted its position in shares of Safehold by 29.9% during the 2nd quarter. State of New Jersey Common Pension Fund D now owns 250,000 shares of the company’s stock valued at $5,932,000 after purchasing an additional 57,500 shares in the last quarter. Finally, Steward Financial Group LLC boosted its position in shares of Safehold by 198.6% during the 1st quarter. Steward Financial Group LLC now owns 8,910 shares of the company’s stock valued at $265,000 after purchasing an additional 5,926 shares in the last quarter. Institutional investors and hedge funds own 71.44% of the company’s stock.

Safehold Stock Down 0.5 %

Shares of NYSE:SAFE opened at $18.57 on Friday. The business’s 50 day simple moving average is $17.31 and its two-hundred day simple moving average is $21.61. The firm has a market cap of $1.32 billion, a P/E ratio of -2.43 and a beta of 1.37. The company has a debt-to-equity ratio of 1.71, a quick ratio of 38.91 and a current ratio of 38.91. Safehold Inc. has a 52-week low of $15.00 and a 52-week high of $36.76.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Tuesday, October 31st. The company reported $0.33 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.35 by ($0.02). Safehold had a negative return on equity of 0.28% and a negative net margin of 63.25%. The firm had revenue of $85.60 million during the quarter, compared to the consensus estimate of $84.58 million. During the same quarter in the previous year, the company posted $2.06 EPS. The firm’s revenue was up 19.4% on a year-over-year basis. As a group, research analysts forecast that Safehold Inc. will post 1.27 EPS for the current fiscal year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, October 13th. Stockholders of record on Friday, September 29th were issued a $0.177 dividend. The ex-dividend date was Thursday, September 28th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.81%. Safehold’s dividend payout ratio is presently -9.16%.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Royal Bank of Canada cut their target price on Safehold from $38.00 to $33.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 7th. TheStreet lowered Safehold from a “c-” rating to a “d” rating in a research report on Wednesday, November 1st. B. Riley cut their target price on Safehold from $44.00 to $40.00 and set a “buy” rating on the stock in a research report on Wednesday, September 6th. The Goldman Sachs Group cut their target price on Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, September 28th. Finally, Mizuho cut their target price on Safehold from $31.00 to $25.00 in a research report on Thursday, August 10th. Two equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $28.14.

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.