abrdn plc Purchases Shares of 10,339 Safehold Inc. (NYSE:SAFE)

abrdn plc acquired a new stake in shares of Safehold Inc. (NYSE:SAFE) in the 3rd quarter, Holdings Channel.com reports. The institutional investor acquired 10,339 shares of the company’s stock, valued at approximately $271,000.

A number of other institutional investors and hedge funds have also made changes to their positions in SAFE. Daiwa Securities Group Inc. boosted its holdings in Safehold by 7.0% in the first quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock valued at $298,000 after acquiring an additional 949 shares during the last quarter. SG Americas Securities LLC acquired a new position in shares of Safehold in the 1st quarter valued at about $1,979,000. Illinois Municipal Retirement Fund grew its holdings in shares of Safehold by 4.7% during the 1st quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company’s stock worth $529,000 after purchasing an additional 1,156 shares during the period. Sei Investments Co. increased its position in Safehold by 62.4% during the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after purchasing an additional 249,500 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in Safehold by 6.0% in the first quarter. Russell Investments Group Ltd. now owns 190,667 shares of the company’s stock valued at $3,928,000 after buying an additional 10,787 shares during the period. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have issued reports on SAFE shares. Mizuho boosted their price objective on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. The Goldman Sachs Group lowered their price target on Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 1st. Royal Bank of Canada raised their price objective on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Thursday, September 19th. Finally, Truist Financial raised their target price on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, Safehold currently has an average rating of “Moderate Buy” and an average target price of $28.22.

Safehold Stock Down 2.5 %

Shares of NYSE SAFE opened at $20.67 on Wednesday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. Safehold Inc. has a 1 year low of $16.27 and a 1 year high of $28.80. The stock’s 50-day simple moving average is $24.88 and its 200-day simple moving average is $22.03. The firm has a market cap of $1.48 billion, a price-to-earnings ratio of 12.16 and a beta of 1.68.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. During the same period in the previous year, the business earned $0.33 EPS. Safehold’s revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, equities analysts anticipate that Safehold Inc. will post 1.57 earnings per share for the current fiscal year.

Safehold Dividend Announcement

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 was Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 3.43%. Safehold’s dividend payout ratio is presently 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.