Safehold Inc. (NYSE:SAFE) Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Safehold Inc. (NYSE:SAFE) by 3.0% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 215,957 shares of the company’s stock after selling 6,705 shares during the quarter. Principal Financial Group Inc.’s holdings in Safehold were worth $5,665,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC boosted its holdings in shares of Safehold by 108.7% in the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after acquiring an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its position in Safehold by 35.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after purchasing an additional 471 shares during the period. ProShare Advisors LLC boosted its stake in Safehold by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after purchasing an additional 676 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Safehold during the 2nd quarter valued at $204,000. Finally, Quest Partners LLC acquired a new position in shares of Safehold during the 2nd quarter valued at $225,000. Institutional investors own 70.38% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently weighed in on SAFE. Royal Bank of Canada raised their target price on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Wedbush reaffirmed a “neutral” rating and issued a $23.00 price objective (down previously from $25.00) on shares of Safehold in a research note on Monday, November 4th. The Goldman Sachs Group cut their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 1st. 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 report on Thursday, September 19th. Finally, Truist Financial increased their price objective on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Safehold presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.22.

Safehold Price Performance

Shares of NYSE:SAFE opened at $20.43 on Thursday. The company’s fifty day moving average is $23.82 and its two-hundred day moving average is $22.16. The company has a market cap of $1.46 billion, a P/E ratio of 12.02 and a beta of 1.68. Safehold Inc. has a 12-month low of $17.91 and a 12-month high of $28.80. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share 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 for the quarter, compared to analyst estimates of $89.45 million. During the same period in the previous year, the firm earned $0.33 earnings per share. Safehold’s quarterly revenue was up 6.0% on a year-over-year basis. Equities analysts expect that Safehold Inc. will post 1.56 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. Stockholders of record on Monday, September 30th were given a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio (DPR) is 41.76%.

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.