Thrivent Financial for Lutherans Grows Position in Safehold Inc. (NYSE:SAFE)

Thrivent Financial for Lutherans increased its holdings in shares of Safehold Inc. (NYSE:SAFE) by 140.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,996 shares of the company’s stock after buying an additional 52,636 shares during the period. Thrivent Financial for Lutherans’ holdings in Safehold were worth $2,361,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased 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 worth $161,949,000 after acquiring an additional 141,245 shares during the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Safehold in the 1st quarter worth $330,000. Price T Rowe Associates Inc. MD increased its stake in shares of Safehold by 4.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 38,835 shares of the company’s stock worth $801,000 after acquiring an additional 1,731 shares during the last quarter. Kennedy Capital Management LLC increased its stake in shares of Safehold by 69.1% in the 1st quarter. Kennedy Capital Management LLC now owns 71,462 shares of the company’s stock worth $1,472,000 after acquiring an additional 29,206 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of Safehold by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock worth $9,080,000 after acquiring an additional 34,404 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on SAFE shares. Truist Financial raised their target price on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada increased their price target on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Tuesday, October 29th. 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. Finally, Mizuho increased their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, Safehold presently has a consensus rating of “Moderate Buy” and an average target price of $28.22.

Safehold Stock Performance

Shares of SAFE opened at $21.32 on Thursday. The stock has a 50-day simple moving average of $23.36 and a 200-day simple moving average of $22.21. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. The stock has a market capitalization of $1.52 billion, a PE ratio of 12.14 and a beta of 1.68. Safehold Inc. has a 1 year low of $17.91 and a 1 year high of $28.80.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, October 28th. The company reported $0.37 earnings per share 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 business had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. During the same quarter last year, the company earned $0.33 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. On average, analysts predict that Safehold Inc. will post 1.56 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 3.32%. The ex-dividend date was Monday, September 30th. Safehold’s dividend payout ratio (DPR) is presently 41.76%.

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.