Voya Investment Management LLC Sells 1,394 Shares of Safehold Inc. $SAFE

Voya Investment Management LLC trimmed its holdings in shares of Safehold Inc. (NYSE:SAFE) by 8.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 14,705 shares of the company’s stock after selling 1,394 shares during the period. Voya Investment Management LLC’s holdings in Safehold were worth $275,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. US Bancorp DE raised its position in shares of Safehold by 136.4% during the first 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 grew its stake in shares of Safehold by 73.9% during the 1st 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 period. First Citizens Bank & Trust Co. bought a new position in shares of Safehold during the 1st quarter worth $192,000. PNC Financial Services Group Inc. grew its stake in shares of Safehold by 28.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,863 shares of the company’s stock worth $203,000 after acquiring an additional 2,408 shares during the period. Finally, Signaturefd LLC boosted its stake in Safehold by 21,147.2% in the 1st quarter. Signaturefd LLC now owns 11,261 shares of the company’s stock worth $211,000 after purchasing an additional 11,208 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have commented on SAFE. JMP Securities cut their target price on Safehold from $32.00 to $28.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 12th. Mizuho lifted their price target on Safehold from $16.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, September 11th. JPMorgan Chase & Co. cut their price objective on Safehold from $20.00 to $19.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 9th. Finally, Truist Financial cut their price objective on Safehold from $18.00 to $16.00 and set a “hold” rating on the stock in a research report on Thursday, September 11th. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Safehold presently has an average rating of “Hold” and a consensus target price of $20.25.

Safehold Stock Down 1.0%

NYSE SAFE opened at $15.55 on Tuesday. The stock’s 50-day moving average price is $15.49 and its 200-day moving average price is $15.71. The company has a quick ratio of 36.02, a current ratio of 36.02 and a debt-to-equity ratio of 1.85. Safehold Inc. has a 52 week low of $13.43 and a 52 week high of $26.34. The company has a market capitalization of $1.12 billion, a P/E ratio of 10.87, a price-to-earnings-growth ratio of 1.41 and a beta of 1.85.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Safehold had a return on equity of 4.70% and a net margin of 27.45%.The firm had revenue of $93.84 million for the quarter, compared to the consensus estimate of $94.05 million. During the same quarter last year, the company earned $0.41 earnings per share. The business’s revenue for the quarter was up 4.3% compared to the same quarter last year. On average, equities research analysts predict that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 4.6%. The ex-dividend date is Tuesday, September 30th. Safehold’s dividend payout ratio (DPR) is currently 49.65%.

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.