Public Sector Pension Investment Board Increases Position in Safehold Inc. (NYSE:SAFE)

Public Sector Pension Investment Board lifted its holdings in shares of Safehold Inc. (NYSE:SAFE) by 6.5% in the second quarter, HoldingsChannel.com reports. The fund owned 98,999 shares of the company’s stock after acquiring an additional 6,085 shares during the period. Public Sector Pension Investment Board’s holdings in Safehold were worth $1,910,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Sei Investments Co. raised its position in Safehold by 3.2% in the second quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock worth $12,926,000 after acquiring an additional 20,483 shares during the period. Intech Investment Management LLC bought a new stake in shares of Safehold in the 2nd quarter worth approximately $237,000. Hsbc Holdings PLC lifted its stake in Safehold by 28.9% in the second quarter. Hsbc Holdings PLC now owns 41,400 shares of the company’s stock valued at $796,000 after purchasing an additional 9,277 shares during the last quarter. Renaissance Technologies LLC grew its holdings in Safehold by 62.3% during the second quarter. Renaissance Technologies LLC now owns 43,119 shares of the company’s stock valued at $832,000 after purchasing an additional 16,557 shares during the period. Finally, Dimensional Fund Advisors LP purchased a new stake in Safehold in the second quarter worth $333,000. 70.38% of the stock is currently owned by institutional investors.

Safehold Stock Performance

NYSE SAFE opened at $26.24 on Tuesday. The company’s 50 day simple moving average is $24.60 and its two-hundred day simple moving average is $21.31. The company has a debt-to-equity ratio of 1.76, a current ratio of 38.83 and a quick ratio of 38.83. Safehold Inc. has a 1 year low of $15.00 and a 1 year high of $28.80. The stock has a market capitalization of $1.87 billion, a PE ratio of -58.31 and a beta of 1.65.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, July 29th. The company reported $0.41 EPS 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 business had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $87.28 million. During the same period in the previous year, the business earned $0.35 earnings per share. The firm’s revenue was up 4.9% on a year-over-year basis. Analysts predict that Safehold Inc. will post 1.59 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 30th will be paid a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 2.70%. The ex-dividend date of this dividend is Monday, September 30th. Safehold’s dividend payout ratio is currently -155.56%.

Analysts Set New Price Targets

A number of brokerages have recently commented on SAFE. Truist Financial upped their price target on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. The Goldman Sachs Group lifted their target price on shares of Safehold from $25.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research note on Thursday, September 19th. Finally, Wedbush lifted their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $28.56.

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.