Allspring Global Investments Holdings LLC Has $486,000 Stock Position in Safehold Inc. (NYSE:SAFE)

Allspring Global Investments Holdings LLC reduced its position in Safehold Inc. (NYSE:SAFE) by 88.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 26,562 shares of the company’s stock after selling 201,188 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Safehold were worth $486,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Smartleaf Asset Management LLC lifted its stake in Safehold by 268.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock valued at $26,000 after purchasing an additional 1,020 shares during the last quarter. Versant Capital Management Inc lifted its position in Safehold by 73.9% during the first quarter. Versant Capital Management Inc now owns 2,377 shares of the company’s stock worth $44,000 after acquiring an additional 1,010 shares during the last quarter. Tower Research Capital LLC TRC lifted its position in Safehold by 23.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock worth $83,000 after acquiring an additional 849 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Safehold by 16.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company’s stock worth $156,000 after acquiring an additional 1,173 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new stake in Safehold during the fourth quarter worth approximately $169,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on SAFE shares. JPMorgan Chase & Co. cut their price objective on shares of Safehold from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday. Morgan Stanley cut 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 report on Tuesday, April 29th. Mizuho cut their price objective on shares of Safehold from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, June 16th. Wedbush restated a “neutral” rating and set a $20.00 price objective on shares of Safehold in a research report on Monday, March 31st. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $32.00 target price on shares of Safehold in a report on Thursday, June 26th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $22.33.

Safehold Stock Up 0.9%

Shares of SAFE opened at $15.62 on Friday. Safehold Inc. has a 12 month low of $13.68 and a 12 month high of $28.80. The firm’s 50 day moving average is $15.40 and its 200-day moving average is $16.54. The stock has a market capitalization of $1.12 billion, a PE ratio of 10.70, a P/E/G ratio of 1.51 and a beta of 1.79. The company has a current ratio of 37.17, a quick ratio of 37.17 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $97.68 million for the quarter, compared to analysts’ expectations of $95.55 million. Safehold had a net margin of 28.20% and a return on equity of 4.76%. The firm’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same period last year, the firm posted $0.43 earnings per share. Equities research analysts forecast that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Monday, June 30th will be paid a $0.177 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.53%. Safehold’s dividend payout ratio (DPR) is 48.63%.

Safehold 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.