Safehold Inc. $SAFE Position Increased by GAMMA Investing LLC

GAMMA Investing LLC increased its position in Safehold Inc. (NYSE:SAFE) by 117.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 3,923 shares of the company’s stock after purchasing an additional 2,117 shares during the period. GAMMA Investing LLC’s holdings in Safehold were worth $61,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. boosted its stake in Safehold by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company’s stock worth $8,120,000 after purchasing an additional 15,280 shares during the period. Strs Ohio acquired a new position in Safehold in the 1st quarter worth approximately $555,000. New York State Teachers Retirement System boosted its stake in Safehold by 12.1% in the 1st quarter. New York State Teachers Retirement System now owns 51,068 shares of the company’s stock worth $956,000 after purchasing an additional 5,509 shares during the period. Peregrine Capital Management LLC boosted its stake in Safehold by 9.0% in the 1st quarter. Peregrine Capital Management LLC now owns 336,554 shares of the company’s stock worth $6,300,000 after purchasing an additional 27,719 shares during the period. Finally, Vanguard Group Inc. boosted its stake in Safehold by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company’s stock worth $146,352,000 after purchasing an additional 93,236 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Stock Performance

Shares of SAFE opened at $15.48 on Friday. The company has a market capitalization of $1.11 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.39 and a beta of 1.85. Safehold Inc. has a one year low of $13.43 and a one year high of $25.61. The company has a debt-to-equity ratio of 1.85, a current ratio of 36.02 and a quick ratio of 36.02. The company’s fifty day moving average price is $15.53 and its 200 day moving average price is $15.66.

Safehold (NYSE:SAFE) last announced its earnings results on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Safehold had a net margin of 27.45% and a return on equity of 4.70%. 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 firm posted $0.41 EPS. The business’s quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts expect that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on SAFE. 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 research note on Wednesday, July 9th. JMP Securities cut their target price on shares of Safehold from $32.00 to $28.00 and set a “market outperform” rating for the company in a research report on Tuesday, August 12th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Safehold in a research report on Saturday, September 27th. Truist Financial cut their target price 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. Finally, Cantor Fitzgerald set a $17.00 target price on shares of Safehold and gave the stock a “neutral” rating in a research report on Wednesday. Three analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $19.89.

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.