Truist Financial Corp Acquires 2,040 Shares of Safehold Inc. (NYSE:SAFE)

Truist Financial Corp lifted its holdings in Safehold Inc. (NYSE:SAFE) by 10.7% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 21,179 shares of the company’s stock after buying an additional 2,040 shares during the period. Truist Financial Corp’s holdings in Safehold were worth $409,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Long Pond Capital LP grew its stake in shares of Safehold by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after buying an additional 345,661 shares during the period. Sei Investments Co. grew its stake in shares of Safehold by 62.4% in the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after buying an additional 249,500 shares during the period. Edgestream Partners L.P. acquired a new stake in shares of Safehold in the 1st quarter valued at about $4,400,000. Vanguard Group Inc. grew its stake in shares of Safehold by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock valued at $161,949,000 after buying an additional 141,245 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in shares of Safehold in the 1st quarter valued at about $1,979,000. 70.38% of the stock is owned by institutional investors.

Analyst Ratings Changes

SAFE has been the subject of a number of analyst reports. Truist Financial lifted their price target on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Wedbush lifted their price target on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group lifted their price target on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research note on Thursday, September 19th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $28.56.

Safehold Price Performance

Shares of NYSE SAFE opened at $24.57 on Friday. Safehold Inc. has a twelve month low of $15.00 and a twelve month high of $28.80. The stock’s 50 day moving average price is $25.16 and its 200-day moving average price is $21.71. The company has a market capitalization of $1.76 billion, a PE ratio of -54.60 and a beta of 1.66. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76.

Safehold (NYSE:SAFE) last announced its earnings results on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates 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 quarter in the previous year, the business earned $0.35 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts anticipate that Safehold Inc. will post 1.59 EPS for the current year.

Safehold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a $0.177 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 2.88%. Safehold’s payout ratio is presently -155.56%.

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.