Texas Permanent School Fund Corp Lowers Stock Position in Safehold Inc. (NYSE:SAFE)

Texas Permanent School Fund Corp cut its position in shares of Safehold Inc. (NYSE:SAFE) by 26.0% during the 2nd quarter, Holdings Channel reports. The firm owned 28,824 shares of the company’s stock after selling 10,146 shares during the quarter. Texas Permanent School Fund Corp’s holdings in Safehold were worth $556,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. GAMMA Investing LLC boosted its position in Safehold by 49.3% in the first quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock worth $44,000 after purchasing an additional 702 shares during the last quarter. Roble Belko & Company Inc bought a new stake in shares of Safehold during the 1st quarter worth $45,000. PNC Financial Services Group Inc. boosted its holdings in shares of Safehold by 65.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock worth $175,000 after buying an additional 2,965 shares during the last quarter. ProShare Advisors LLC grew its position in Safehold by 7.5% during the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after buying an additional 676 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Safehold during the second quarter worth about $204,000. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently weighed in on SAFE. Truist Financial increased their target price on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. The Goldman Sachs Group upped their price objective on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday. Wedbush raised their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. Finally, 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. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.56.

Safehold Price Performance

Shares of NYSE SAFE opened at $26.95 on Friday. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83. Safehold Inc. has a fifty-two week low of $15.00 and a fifty-two week high of $28.80. The stock has a market cap of $1.93 billion, a PE ratio of -59.89 and a beta of 1.65. The stock has a fifty day moving average of $24.06 and a 200-day moving average of $21.05.

Safehold (NYSE:SAFE) last posted its earnings results 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 positive return on equity of 4.64% and a negative net margin of 5.76%. The business had revenue of $89.90 million during the quarter, compared to analyst estimates of $87.28 million. During the same quarter in the previous year, the firm earned $0.35 EPS. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. Equities research analysts anticipate that Safehold Inc. will post 1.59 earnings per share for the current year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th will be paid a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 2.63%. The ex-dividend date is Monday, September 30th. Safehold’s dividend payout ratio is presently -155.56%.

About Safehold

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.