Quest Partners LLC Invests $225,000 in Safehold Inc. (NYSE:SAFE)

Quest Partners LLC acquired a new position in shares of Safehold Inc. (NYSE:SAFE) in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 11,654 shares of the company’s stock, valued at approximately $225,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of Safehold by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after buying an additional 141,245 shares during the last quarter. UBS Group AG increased its holdings in shares of Safehold by 1,002.8% during the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock worth $51,625,000 after buying an additional 2,006,133 shares during the last quarter. Sei Investments Co. increased its holdings in shares of 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 buying an additional 249,500 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Safehold by 7.1% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 613,450 shares of the company’s stock worth $14,355,000 after buying an additional 40,556 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its holdings in shares of Safehold by 7.9% during the 2nd quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock worth $9,080,000 after buying an additional 34,404 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Stock Performance

NYSE:SAFE opened at $26.61 on Friday. The company has a debt-to-equity ratio of 1.76, a current ratio of 38.83 and a quick ratio of 38.83. The firm has a 50-day moving average of $23.30 and a two-hundred day moving average of $20.81. The stock has a market cap of $1.90 billion, a P/E ratio of -59.13 and a beta of 1.65. Safehold Inc. has a 1-year low of $15.00 and a 1-year high of $26.62.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, beating analysts’ consensus estimates of $0.38 by $0.03. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The company had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $87.28 million. During the same period in the prior year, the company posted $0.35 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. On average, research analysts expect that Safehold Inc. will post 1.59 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.177 per share. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.71 annualized dividend and a dividend yield of 2.66%. Safehold’s payout ratio is -157.78%.

Wall Street Analysts Forecast Growth

SAFE has been the subject of several recent research reports. Truist Financial increased their price target on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Wedbush increased their price target on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Finally, The Goldman Sachs Group increased their price target on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a report on Friday, June 28th. Four analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Safehold currently has a consensus rating of “Moderate Buy” and a consensus target price of $26.75.

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.