Allspring Global Investments Holdings LLC Buys New Stake in Safehold Inc. (NYSE:SAFE)

Allspring Global Investments Holdings LLC bought a new stake in Safehold Inc. (NYSE:SAFE) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 12,771 shares of the company’s stock, valued at approximately $335,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in shares of Safehold by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after purchasing an additional 141,245 shares during the period. Long Pond Capital LP lifted its stake in shares of Safehold by 14.9% during the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after purchasing an additional 345,661 shares during the period. Sei Investments Co. lifted its stake in shares of Safehold by 3.2% during the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock worth $12,926,000 after purchasing an additional 20,483 shares during the period. Bank of New York Mellon Corp lifted its stake in shares of Safehold by 7.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock worth $9,080,000 after purchasing an additional 34,404 shares during the period. Finally, Peregrine Capital Management LLC lifted its stake in shares of Safehold by 10.0% during the 2nd quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock worth $7,443,000 after purchasing an additional 35,046 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have weighed in on SAFE. Wedbush increased their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Raymond James raised 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. Truist Financial upped their price objective on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Mizuho upped their price objective on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a report on Tuesday, October 29th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $28.44.

Safehold Stock Down 2.7 %

Shares of NYSE SAFE opened at $20.70 on Friday. Safehold Inc. has a 12-month low of $16.14 and a 12-month high of $28.80. The company has a market cap of $1.48 billion, a P/E ratio of 12.18 and a beta of 1.66. The company has a current ratio of 37.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.85. The stock has a fifty day moving average price of $24.97 and a 200 day moving average price of $21.96.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The firm had revenue of $90.70 million during the quarter, compared to the consensus estimate of $89.45 million. During the same period in the prior year, the firm earned $0.33 EPS. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. Research analysts anticipate that Safehold Inc. will post 1.58 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.177 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 3.42%. Safehold’s dividend payout ratio is currently 41.18%.

Safehold 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.