Sumitomo Mitsui DS Asset Management Company Ltd Invests $204,000 in Safehold Inc. (NYSE:SAFE)

Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Safehold Inc. (NYSE:SAFE) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 10,598 shares of the company’s stock, valued at approximately $204,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in SAFE. GAMMA Investing LLC bought a new stake in shares of Safehold during the fourth quarter worth $33,000. Roble Belko & Company Inc bought a new stake in Safehold during the 1st quarter worth about $45,000. PNC Financial Services Group Inc. increased its position in Safehold by 65.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock valued at $175,000 after acquiring an additional 2,965 shares in the last quarter. ProShare Advisors LLC raised its stake in shares of Safehold by 7.5% in the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after acquiring an additional 676 shares during the last quarter. Finally, Victory Capital Management Inc. acquired a new position in shares of Safehold during the fourth quarter worth approximately $224,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Stock Up 1.0 %

Safehold stock opened at $25.06 on Tuesday. The firm has a market capitalization of $1.79 billion, a price-to-earnings ratio of -55.69 and a beta of 1.65. The company’s 50 day simple moving average is $22.16 and its 200 day simple moving average is $20.51. The company has a debt-to-equity ratio of 1.76, a current ratio of 38.83 and a quick ratio of 38.83. Safehold Inc. has a fifty-two week low of $15.00 and a fifty-two week high of $26.05.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The company had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $87.28 million. During the same period last year, the firm posted $0.35 earnings per share. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, sell-side analysts anticipate that Safehold Inc. will post 1.59 EPS for the current year.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were issued a $0.177 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.71 annualized dividend and a dividend yield of 2.83%. Safehold’s dividend payout ratio (DPR) is currently -155.56%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on SAFE. Truist Financial boosted their price objective on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. The Goldman Sachs Group upped their price target on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Wedbush lifted their price objective on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. JMP Securities restated a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research report on Thursday, May 16th. Finally, Royal Bank of Canada lowered their price target on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $28.22.

Safehold Company 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.