Safehold Inc. (NYSE:SAFE) Shares Sold by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company trimmed its stake in shares of Safehold Inc. (NYSE:SAFE) by 4.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,098 shares of the company’s stock after selling 1,051 shares during the period. The Manufacturers Life Insurance Company’s holdings in Safehold were worth $658,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SAFE. GAMMA Investing LLC lifted its holdings in shares of Safehold by 108.7% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after purchasing an additional 920 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of Safehold by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after purchasing an additional 471 shares during the last quarter. KBC Group NV lifted its holdings in shares of Safehold by 79.3% during the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after purchasing an additional 1,275 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of Safehold during the second quarter valued at $204,000. Finally, Quest Partners LLC purchased a new stake in shares of Safehold during the second quarter valued at $225,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research firms recently weighed in on SAFE. Royal Bank of Canada upped their price target on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Wedbush reissued a “neutral” rating and set a $23.00 price target (down from $25.00) on shares of Safehold in a research report on Monday, November 4th. JMP Securities reissued a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research report on Tuesday, October 29th. 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 report on Thursday, September 19th. Finally, The Goldman Sachs Group dropped 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $28.22.

Safehold Stock Performance

Shares of SAFE stock opened at $20.43 on Friday. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. Safehold Inc. has a fifty-two week low of $17.91 and a fifty-two week high of $28.80. The stock’s 50-day moving average is $21.95 and its two-hundred day moving average is $22.27. The firm has a market cap of $1.46 billion, a P/E ratio of 12.02 and a beta of 1.66.

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 company had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. During the same period in the prior year, the firm posted $0.33 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. Analysts predict that Safehold Inc. will post 1.56 earnings per share for the current fiscal year.

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.