Strs Ohio Makes New Investment in Safehold Inc. $SAFE

Strs Ohio purchased a new position in Safehold Inc. (NYSE:SAFE) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 29,664 shares of the company’s stock, valued at approximately $555,000.

A number of other large investors have also added to or reduced their stakes in the company. US Bancorp DE lifted its position in shares of Safehold by 136.4% in the 1st quarter. US Bancorp DE now owns 2,215 shares of the company’s stock worth $41,000 after purchasing an additional 1,278 shares during the period. Versant Capital Management Inc lifted its position in shares of 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. First Citizens Bank & Trust Co. purchased a new stake in shares of Safehold in the 1st quarter worth about $192,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Safehold in the 4th quarter worth about $194,000. Finally, PNC Financial Services Group Inc. lifted its position in shares of Safehold by 28.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,863 shares of the company’s stock worth $203,000 after purchasing an additional 2,408 shares during the period. Institutional investors own 70.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Truist Financial lowered their price target on shares of Safehold from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, September 11th. Mizuho raised their price objective on shares of Safehold from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. decreased their price objective on shares of Safehold from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Finally, JMP Securities decreased their price objective on shares of Safehold from $32.00 to $28.00 and set a “market outperform” rating for the company in a report on Tuesday, August 12th. Three analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $20.25.

Safehold Price Performance

SAFE stock opened at $16.28 on Friday. Safehold Inc. has a 52 week low of $13.43 and a 52 week high of $27.53. The company has a quick ratio of 36.02, a current ratio of 36.02 and a debt-to-equity ratio of 1.85. The company has a fifty day simple moving average of $15.41 and a two-hundred day simple moving average of $15.86. The firm has a market capitalization of $1.17 billion, a P/E ratio of 11.38, a price-to-earnings-growth ratio of 1.47 and a beta of 1.85.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, meeting the consensus estimate of $0.39. Safehold had a net margin of 27.45% and a return on equity of 4.70%. The business had revenue of $93.84 million during the quarter, compared to analyst estimates of $94.05 million. During the same quarter last year, the business earned $0.41 earnings per share. Safehold’s quarterly revenue was up 4.3% compared to the same quarter last year. Analysts anticipate that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a $0.177 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.71 annualized dividend and a dividend yield of 4.3%. Safehold’s dividend payout ratio is currently 49.65%.

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.