Safehold Inc. $SAFE Position Trimmed by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its position in shares of Safehold Inc. (NYSE:SAFE) by 29.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 18,651 shares of the company’s stock after selling 7,911 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Safehold were worth $296,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in SAFE. Vanguard Group Inc. lifted its holdings 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 last quarter. T. Rowe Price Investment Management Inc. lifted its stake in shares of Safehold by 0.9% in the first quarter. T. Rowe Price Investment Management Inc. now owns 4,305,041 shares of the company’s stock worth $80,591,000 after buying an additional 38,272 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of Safehold by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company’s stock worth $8,120,000 after buying an additional 15,280 shares during the period. 1832 Asset Management L.P. bought a new stake in shares of Safehold during the 1st quarter worth $6,552,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Safehold by 2.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 346,067 shares of the company’s stock valued at $6,478,000 after buying an additional 8,348 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Trading Up 1.3%

SAFE opened at $15.73 on Friday. 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 has a market cap of $1.13 billion, a price-to-earnings ratio of 11.00, a price-to-earnings-growth ratio of 1.42 and a beta of 1.85. The firm has a 50 day simple moving average of $15.81 and a 200 day simple moving average of $15.40. Safehold Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $23.90.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Tuesday, May 3rd. The company reported $0.30 EPS for the quarter. Safehold had a return on equity of 4.70% and a net margin of 27.45%.The company had revenue of $50.20 million during the quarter. On average, sell-side analysts anticipate that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Tuesday, September 30th. Safehold’s dividend payout ratio is 49.65%.

Wall Street Analysts Forecast Growth

SAFE has been the subject of several recent analyst reports. Mizuho increased their target price on 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. cut their price target on Safehold from $20.00 to $19.00 and set a “neutral” rating for the company in a report on Wednesday, July 9th. Truist Financial cut their price target on Safehold from $18.00 to $16.00 and set a “hold” rating for the company in a report on Thursday, September 11th. JMP Securities cut their price target on Safehold from $32.00 to $28.00 and set a “market outperform” rating for the company in a report on Tuesday, August 12th. Finally, Weiss Ratings reiterated a “hold (c-)” rating on shares of Safehold in a report on Saturday. Three research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, Safehold presently has an average rating of “Hold” and an average target price of $19.89.

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.