Principal Financial Group Inc. Grows Stock Holdings in Safehold Inc. (NYSE:SAFE)

Principal Financial Group Inc. increased its stake in shares of Safehold Inc. (NYSE:SAFE) by 2.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 228,133 shares of the company’s stock after purchasing an additional 6,083 shares during the quarter. Principal Financial Group Inc. owned approximately 0.32% of Safehold worth $4,271,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in SAFE. Charles Schwab Investment Management Inc. boosted its holdings in shares of Safehold by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company’s stock worth $13,251,000 after purchasing an additional 29,348 shares during the last quarter. Proficio Capital Partners LLC purchased a new position in shares of Safehold in the 4th quarter valued at $306,000. PNC Financial Services Group Inc. increased its holdings in shares of Safehold by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company’s stock valued at $156,000 after acquiring an additional 1,173 shares during the period. Amundi grew its stake in shares of Safehold by 39.9% in the 4th quarter. Amundi now owns 49,549 shares of the company’s stock valued at $916,000 after purchasing an additional 14,130 shares during the last quarter. Finally, Corient Private Wealth LLC increased its position in Safehold by 6.9% during 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. 70.38% of the stock is owned by institutional investors and hedge funds.

Safehold Stock Down 0.8%

SAFE stock opened at $15.06 on Friday. The company has a 50-day moving average of $15.35 and a two-hundred day moving average of $16.42. Safehold Inc. has a 52-week low of $13.68 and a 52-week high of $28.80. The company has a debt-to-equity ratio of 1.82, a current ratio of 37.17 and a quick ratio of 37.17. The stock has a market capitalization of $1.08 billion, a price-to-earnings ratio of 10.32, a price-to-earnings-growth ratio of 1.49 and a beta of 1.79.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $97.68 million for the quarter, compared to the consensus estimate of $95.55 million. During the same quarter in the prior year, the business earned $0.43 EPS. The business’s revenue for the quarter was up 4.8% compared to the same quarter last year. As a group, equities research analysts anticipate that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a $0.177 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.70%. Safehold’s dividend payout ratio (DPR) is currently 48.63%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on SAFE. Mizuho reduced their target price on shares of Safehold from $19.00 to $16.00 and set a “neutral” rating on the stock in a report on Monday, June 16th. JPMorgan Chase & Co. lowered their target price on Safehold from $20.00 to $19.00 and set a “neutral” rating for the company in a research note on Wednesday, July 9th. JMP Securities reiterated a “market outperform” rating and issued a $32.00 price target on shares of Safehold in a research note on Thursday, June 26th. Truist Financial reduced their target price on Safehold from $20.00 to $18.00 and set a “hold” rating on the stock in a report on Monday, May 19th. Finally, The Goldman Sachs Group cut their price target on Safehold from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Safehold has an average rating of “Hold” and a consensus target price 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.