Algert Global LLC Lowers Stake in Safehold Inc. (NYSE:SAFE)

Algert Global LLC lessened its stake in Safehold Inc. (NYSE:SAFE) by 60.0% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 27,243 shares of the company’s stock after selling 40,833 shares during the period. Algert Global LLC’s holdings in Safehold were worth $715,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its holdings in shares of Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after buying an additional 920 shares during the period. Mirae Asset Global Investments Co. Ltd. increased its stake in Safehold by 35.4% during 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. KBC Group NV increased its stake in Safehold by 79.3% during the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after purchasing an additional 1,275 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Safehold in the second quarter valued at approximately $204,000. Finally, Quest Partners LLC purchased a new position in shares of Safehold in the second quarter valued at approximately $225,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Price Performance

Shares of NYSE SAFE opened at $21.36 on Friday. The stock’s 50-day simple moving average is $23.11 and its 200-day simple moving average is $22.20. The firm has a market capitalization of $1.53 billion, a PE ratio of 12.56 and a beta of 1.68. Safehold Inc. has a fifty-two week low of $17.91 and a fifty-two week high of $28.80. 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 (NYSE:SAFE) last released its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The company had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. During the same quarter last year, the company earned $0.33 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, equities research analysts forecast that Safehold Inc. will post 1.56 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders 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 annualized dividend and a yield of 3.31%. Safehold’s dividend payout ratio is presently 41.76%.

Analysts Set New Price Targets

A number of research firms have issued reports on SAFE. Wedbush reiterated a “neutral” rating and set a $23.00 target price (down from $25.00) on shares of Safehold in a report on Monday, November 4th. Royal Bank of Canada increased their price objective on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. JMP Securities reissued a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research note on Tuesday, October 29th. The Goldman Sachs Group reduced their price target on Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Finally, Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat, Safehold presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.22.

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.