M&T Bank Corp Grows Position in Safehold Inc. (NYSE:SAFE)

M&T Bank Corp raised its holdings in Safehold Inc. (NYSE:SAFE) by 4.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 28,742 shares of the company’s stock after acquiring an additional 1,222 shares during the period. M&T Bank Corp’s holdings in Safehold were worth $538,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC raised its holdings in shares of Safehold by 23.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company’s stock valued at $83,000 after buying an additional 849 shares in the last quarter. Corient Private Wealth LLC increased its stake in Safehold by 6.9% in the 4th quarter. Corient Private Wealth LLC now owns 14,260 shares of the company’s stock worth $264,000 after purchasing an additional 924 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Safehold by 3.5% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,470 shares of the company’s stock worth $545,000 after purchasing an additional 987 shares during the period. Versant Capital Management Inc increased its stake in Safehold by 73.9% in the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company’s stock worth $44,000 after purchasing an additional 1,010 shares during the period. Finally, PNC Financial Services Group Inc. increased its stake in Safehold by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company’s stock worth $156,000 after purchasing an additional 1,173 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Trading Down 3.1%

NYSE SAFE opened at $14.97 on Wednesday. The company has a quick ratio of 37.17, a current ratio of 37.17 and a debt-to-equity ratio of 1.82. Safehold Inc. has a twelve month low of $13.68 and a twelve month high of $28.80. The firm has a market capitalization of $1.07 billion, a PE ratio of 10.25, a P/E/G ratio of 1.52 and a beta of 1.79. The stock’s 50 day moving average is $15.37 and its 200 day moving average is $16.45.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Safehold had a return on equity of 4.76% and a net margin of 28.20%. The company had revenue of $97.68 million for the quarter, compared to analyst estimates of $95.55 million. During the same period in the previous year, the company posted $0.43 earnings per share. The firm’s revenue was up 4.8% on a year-over-year basis. Research analysts forecast that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were given a dividend of $0.177 per share. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.71 annualized dividend and a dividend yield of 4.73%. Safehold’s dividend payout ratio is presently 47.95%.

Analyst Ratings Changes

A number of brokerages have commented on SAFE. Mizuho decreased their price target on Safehold from $19.00 to $16.00 and set a “neutral” rating on the stock in a research note on Monday, June 16th. JPMorgan Chase & Co. reduced their target price on Safehold from $20.00 to $19.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 9th. Morgan Stanley reduced their target price 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. Wedbush reissued a “neutral” rating and set a $20.00 target price on shares of Safehold in a research note on Monday, March 31st. Finally, JMP Securities reissued a “market outperform” rating and set a $32.00 target price on shares of Safehold in a research note on Thursday, June 26th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $22.33.

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.