Safehold Inc. (NYSE:SAFE) Shares Bought by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lifted its stake in Safehold Inc. (NYSE:SAFE) by 65.6% during the fourth quarter, HoldingsChannel reports. The institutional investor owned 7,488 shares of the company’s stock after acquiring an additional 2,965 shares during the period. PNC Financial Services Group Inc.’s holdings in Safehold were worth $175,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of SAFE. Versant Capital Management Inc grew its position in shares of Safehold by 197.7% during the fourth quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock worth $33,000 after acquiring an additional 931 shares during the last quarter. GAMMA Investing LLC acquired a new stake in Safehold during the 4th quarter worth $33,000. Fifth Third Bancorp grew its position in Safehold by 78.0% during the 4th quarter. Fifth Third Bancorp now owns 2,482 shares of the company’s stock worth $58,000 after purchasing an additional 1,088 shares during the last quarter. abrdn plc acquired a new position in Safehold in the fourth quarter valued at $211,000. Finally, Everence Capital Management Inc. purchased a new stake in shares of Safehold in the fourth quarter valued at about $213,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Price Performance

Shares of NYSE SAFE opened at $18.79 on Thursday. The company has a debt-to-equity ratio of 1.78, a quick ratio of 42.51 and a current ratio of 42.51. Safehold Inc. has a one year low of $15.00 and a one year high of $26.33. The firm has a market capitalization of $1.34 billion, a P/E ratio of -41.76 and a beta of 1.65. The company’s fifty day moving average is $19.14 and its two-hundred day moving average is $20.19.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Monday, May 6th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. Safehold had a negative net margin of 7.87% and a positive return on equity of 4.43%. The firm had revenue of $93.20 million for the quarter, compared to the consensus estimate of $88.20 million. During the same quarter in the previous year, the firm earned $0.41 earnings per share. The firm’s revenue was up 19.0% on a year-over-year basis. Analysts forecast that Safehold Inc. will post 1.53 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 3.77%. The ex-dividend date is Friday, June 28th. Safehold’s payout ratio is currently -157.78%.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on SAFE. JMP Securities reissued a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Thursday, May 16th. JPMorgan Chase & Co. lowered their target price on Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Mizuho downgraded Safehold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $22.00 to $20.00 in a report on Friday, May 10th. The Goldman Sachs Group lifted their price objective on shares of Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, Royal Bank of Canada cut their price objective on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Safehold presently has a consensus rating of “Moderate Buy” and an average price target of $27.22.

Safehold Company 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.