Bank of New York Mellon Corp Grows Stake in Safehold Inc. (NYSE:SAFE)

Bank of New York Mellon Corp boosted its position in shares of Safehold Inc. (NYSE:SAFE) by 7.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 470,708 shares of the company’s stock after buying an additional 34,404 shares during the period. Bank of New York Mellon Corp’s holdings in Safehold were worth $9,080,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of SAFE. Victory Capital Management Inc. purchased a new position in Safehold during the 4th quarter worth $224,000. Natixis Advisors L.P. increased its holdings in shares of Safehold by 372.6% in the 4th quarter. Natixis Advisors L.P. now owns 59,278 shares of the company’s stock valued at $1,386,000 after acquiring an additional 46,735 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in shares of Safehold by 7.1% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 613,450 shares of the company’s stock valued at $14,355,000 after acquiring an additional 40,556 shares during the period. UBS Group AG increased its holdings in shares of Safehold by 1,002.8% in the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock valued at $51,625,000 after acquiring an additional 2,006,133 shares during the period. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of Safehold by 2.6% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 50,800 shares of the company’s stock valued at $1,189,000 after acquiring an additional 1,300 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Safehold Stock Up 0.6 %

Shares of SAFE stock opened at $24.63 on Tuesday. Safehold Inc. has a 1-year low of $15.00 and a 1-year high of $26.05. The stock’s fifty day moving average price is $22.73 and its 200 day moving average price is $20.65. The company has a debt-to-equity ratio of 1.76, a current ratio of 38.83 and a quick ratio of 38.83. The company has a market cap of $1.76 billion, a price-to-earnings ratio of -54.72 and a beta of 1.65.

Safehold (NYSE:SAFE) last announced its earnings results on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, topping the consensus estimate of $0.38 by $0.03. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The firm had revenue of $89.90 million for the quarter, compared to the consensus estimate of $87.28 million. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts expect that Safehold Inc. will post 1.59 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.177 per share. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.71 dividend on an annualized basis and a yield of 2.88%. Safehold’s dividend payout ratio is currently -157.78%.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. JMP Securities reiterated a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a report on Thursday, May 16th. Wedbush lifted their price target on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Truist Financial lifted their price target on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group lifted their price target on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a report on Friday, June 28th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.75.

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.