Rhumbline Advisers Increases Stake in Safehold Inc. (NYSE:SAFE)

Rhumbline Advisers grew its holdings in shares of Safehold Inc. (NYSE:SAFE) by 4.1% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 167,142 shares of the company’s stock after buying an additional 6,656 shares during the period. Rhumbline Advisers owned 0.23% of Safehold worth $3,224,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SAFE. GAMMA Investing LLC boosted its position in shares of Safehold by 49.3% during the first quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock valued at $44,000 after purchasing an additional 702 shares in the last quarter. Roble Belko & Company Inc bought a new stake in Safehold in the first quarter worth $45,000. PNC Financial Services Group Inc. boosted its holdings in Safehold by 65.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock worth $175,000 after acquiring an additional 2,965 shares in the last quarter. Victory Capital Management Inc. bought a new stake in Safehold in the fourth quarter worth $224,000. Finally, ProShare Advisors LLC boosted its holdings in Safehold by 7.5% in the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after acquiring an additional 676 shares in the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

Safehold Stock Up 2.2 %

Safehold stock opened at $27.20 on Wednesday. The stock has a market cap of $1.94 billion, a PE ratio of -60.44 and a beta of 1.65. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83. Safehold Inc. has a one year low of $15.00 and a one year high of $27.33. The stock has a fifty day moving average of $23.46 and a 200 day moving average of $20.86.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.41 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. The company had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $87.28 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. Safehold’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.35 earnings per share. As a group, sell-side analysts predict that Safehold Inc. will post 1.59 EPS for the current year.

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be given a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 2.60%. The ex-dividend date of this dividend is Monday, September 30th. Safehold’s payout ratio is -155.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on SAFE shares. The Goldman Sachs Group boosted their target price on Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a report on Friday, June 28th. Truist Financial boosted their target price on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, Wedbush boosted their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average 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.