Principal Financial Group Inc. Decreases Stake in Safehold Inc. (NYSE:SAFE)

Principal Financial Group Inc. lessened its stake in shares of Safehold Inc. (NYSE:SAFEFree Report) by 0.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 232,873 shares of the company’s stock after selling 956 shares during the period. Principal Financial Group Inc. owned approximately 0.33% of Safehold worth $4,797,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of SAFE. Versant Capital Management Inc raised its stake in shares of Safehold by 197.7% in the fourth quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock worth $33,000 after purchasing an additional 931 shares during the last quarter. GAMMA Investing LLC purchased a new position in Safehold during the 4th quarter worth approximately $33,000. Roble Belko & Company Inc acquired a new stake in Safehold during the 1st quarter valued at approximately $45,000. Fifth Third Bancorp boosted its holdings in shares of Safehold by 78.0% in the 4th quarter. Fifth Third Bancorp now owns 2,482 shares of the company’s stock valued at $58,000 after acquiring an additional 1,088 shares during the last quarter. Finally, PNC Financial Services Group Inc. boosted its holdings in shares of Safehold by 195.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,523 shares of the company’s stock valued at $81,000 after acquiring an additional 2,994 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Analysts Set New Price Targets

SAFE has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a report on Wednesday, April 17th. Royal Bank of Canada decreased their price target on Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. The Goldman Sachs Group lifted their target price on shares of Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a report on Friday, June 28th. Mizuho cut shares of Safehold from a “buy” rating to a “neutral” rating and cut their price objective for the company from $22.00 to $20.00 in a report on Friday, May 10th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a research report on Thursday, May 16th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.22.

Get Our Latest Research Report on Safehold

Safehold Trading Down 0.2 %

Shares of Safehold stock opened at $18.75 on Friday. The company has a current ratio of 42.51, a quick ratio of 42.51 and a debt-to-equity ratio of 1.78. Safehold Inc. has a twelve month low of $15.00 and a twelve month high of $26.33. The firm has a market capitalization of $1.34 billion, a PE ratio of -41.67 and a beta of 1.65. The firm’s 50-day moving average price is $19.16 and its 200 day moving average price is $20.16.

Safehold (NYSE:SAFEGet Free Report) last released its earnings results on Monday, May 6th. The company reported $0.43 earnings per share for the quarter, beating the consensus estimate of $0.39 by $0.04. Safehold had a positive return on equity of 4.43% and a negative net margin of 7.87%. The business had revenue of $93.20 million for the quarter, compared to the consensus estimate of $88.20 million. During the same quarter last year, the business posted $0.41 earnings per share. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, sell-side analysts predict that Safehold Inc. will post 1.53 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be paid a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 3.78%. The ex-dividend date of this dividend is Friday, June 28th. Safehold’s dividend payout ratio is currently -157.78%.

About Safehold

(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.

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Institutional Ownership by Quarter for Safehold (NYSE:SAFE)

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