Northern Trust Corp Grows Stock Holdings in Safehold Inc. (NYSE:SAFE)

Northern Trust Corp raised its stake in Safehold Inc. (NYSE:SAFE) by 17.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 628,137 shares of the company’s stock after buying an additional 93,173 shares during the period. Northern Trust Corp owned about 0.88% of Safehold worth $11,608,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in SAFE. T. Rowe Price Investment Management Inc. lifted its position in shares of Safehold by 8.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,266,769 shares of the company’s stock worth $78,850,000 after purchasing an additional 336,458 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of Safehold by 7.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 47,303 shares of the company’s stock worth $875,000 after purchasing an additional 3,418 shares during the period. Hsbc Holdings PLC lifted its position in shares of Safehold by 10.9% in the 4th quarter. Hsbc Holdings PLC now owns 45,992 shares of the company’s stock worth $849,000 after purchasing an additional 4,504 shares during the period. Tower Research Capital LLC TRC lifted its position in shares of Safehold by 23.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock worth $83,000 after purchasing an additional 849 shares during the period. Finally, MetLife Investment Management LLC lifted its position in shares of Safehold by 5.4% in the 4th quarter. MetLife Investment Management LLC now owns 33,005 shares of the company’s stock worth $610,000 after purchasing an additional 1,692 shares during the period. 70.38% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. Wedbush reaffirmed a “neutral” rating and issued a $20.00 price target on shares of Safehold in a research report on Monday, March 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research report on Thursday, February 6th. Morgan Stanley reduced their price objective on shares of Safehold from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group reduced their price objective on shares of Safehold from $28.00 to $25.00 and set a “buy” rating for the company in a research note on Wednesday. Finally, Mizuho reduced their price objective on shares of Safehold from $25.00 to $19.00 and set a “neutral” rating for the company in a research note on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $25.38.

Safehold Trading Up 2.0%

Shares of Safehold stock opened at $15.64 on Friday. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82. Safehold Inc. has a 12-month low of $13.68 and a 12-month high of $28.80. The firm has a market capitalization of $1.12 billion, a price-to-earnings ratio of 10.57 and a beta of 1.86. The firm’s 50 day simple moving average is $16.48 and its two-hundred day simple moving average is $17.98.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $97.68 million for the quarter, compared to the consensus estimate of $95.55 million. Safehold had a net margin of 28.92% and a return on equity of 4.76%. The business’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same period in the prior year, the firm earned $0.43 EPS. Analysts predict that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st were issued a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Monday, March 31st. Safehold’s dividend payout ratio (DPR) is currently 47.95%.

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.