Allspring Global Investments Holdings LLC Invests $335,000 in Safehold Inc. (NYSE:SAFE)

Allspring Global Investments Holdings LLC bought a new position in shares of Safehold Inc. (NYSE:SAFE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 12,771 shares of the company’s stock, valued at approximately $335,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Vanguard Group Inc. increased its position in shares of Safehold by 1.8% during the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after purchasing an additional 141,245 shares in the last quarter. Sei Investments Co. increased its position in Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after acquiring an additional 249,500 shares during the period. Edgestream Partners L.P. acquired a new position in Safehold in the 1st quarter valued at about $4,400,000. SG Americas Securities LLC acquired a new position in Safehold in the 1st quarter valued at about $1,979,000. Finally, Angeles Wealth Management LLC acquired a new position in Safehold in the 2nd quarter valued at about $585,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

Analyst Ratings Changes

SAFE has been the topic of several recent research reports. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research report on Thursday, September 19th. Wedbush boosted their price target on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. The Goldman Sachs Group dropped their price target on Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday. Truist Financial boosted their price target on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Finally, JMP Securities reiterated a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $28.44.

Safehold Stock Performance

NYSE SAFE opened at $20.70 on Friday. The business’s 50 day moving average is $24.97 and its two-hundred day moving average is $21.96. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.18 and a beta of 1.66. The company has a current ratio of 37.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.85. Safehold Inc. has a 12-month low of $16.14 and a 12-month high of $28.80.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, hitting the consensus estimate of $0.37. The business had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.33 EPS. Research analysts expect that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 3.42%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio (DPR) is 41.18%.

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.