Bank of America Corp DE Sells 13,362 Shares of Safehold Inc. (NYSE:SAFE)

Bank of America Corp DE reduced its holdings in Safehold Inc. (NYSE:SAFE) by 9.9% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,109 shares of the company’s stock after selling 13,362 shares during the quarter. Bank of America Corp DE owned 0.17% of Safehold worth $2,257,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the company. BNP Paribas Financial Markets acquired a new position in shares of Safehold during the fourth quarter worth about $1,781,000. Ameriprise Financial Inc. boosted its position in Safehold by 12.5% during the fourth quarter. Ameriprise Financial Inc. now owns 138,874 shares of the company’s stock valued at $2,570,000 after purchasing an additional 15,465 shares during the last quarter. American Trust Investment Advisors LLC boosted its position in Safehold by 35.6% during the fourth quarter. American Trust Investment Advisors LLC now owns 32,195 shares of the company’s stock valued at $595,000 after purchasing an additional 8,445 shares during the last quarter. Anson Funds Management LP boosted its position in Safehold by 33.4% during the fourth quarter. Anson Funds Management LP now owns 156,775 shares of the company’s stock valued at $2,897,000 after purchasing an additional 39,229 shares during the last quarter. Finally, Jane Street Group LLC raised its stake in Safehold by 18.1% in the fourth quarter. Jane Street Group LLC now owns 53,032 shares of the company’s stock valued at $980,000 after buying an additional 8,122 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Safehold Trading Down 1.4%

Shares of SAFE stock opened at $14.86 on Tuesday. The stock’s fifty day moving average price is $15.69 and its two-hundred day moving average price is $17.49. The company has a market cap of $1.07 billion, a PE ratio of 10.04 and a beta of 1.86. Safehold Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $28.80. The company has a debt-to-equity ratio of 1.82, a quick ratio of 36.59 and a current ratio of 36.59.

Safehold (NYSE:SAFE) last issued its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $97.68 million for the quarter, compared to the consensus estimate of $95.55 million. Safehold had a return on equity of 4.76% and a net margin of 28.92%. The company’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.43 EPS. Equities analysts predict that Safehold Inc. will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.76%. The ex-dividend date was Monday, March 31st. Safehold’s dividend payout ratio is presently 47.95%.

Analyst Ratings Changes

SAFE has been the topic of several research analyst reports. Mizuho dropped their price objective on Safehold from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. The Goldman Sachs Group lowered their target price on Safehold from $28.00 to $25.00 and set a “buy” rating on the stock in a research note on Wednesday, May 14th. Wedbush restated a “neutral” rating and set a $20.00 price objective on shares of Safehold in a research note on Monday, March 31st. Morgan Stanley lowered their price objective on Safehold from $19.00 to $17.00 and set an “equal weight” rating on the stock in a research note on Tuesday, April 29th. Finally, Royal Bank of Canada lowered their price objective on Safehold from $21.00 to $20.00 and set an “outperform” rating on the stock in a research note on Monday, May 19th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $23.50.

About Safehold

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.