Intech Investment Management LLC Purchases New Shares in Safehold Inc. (NYSE:SAFE)

Intech Investment Management LLC purchased a new stake in Safehold Inc. (NYSE:SAFE) in the second quarter, Holdings Channel.com reports. The fund purchased 12,311 shares of the company’s stock, valued at approximately $237,000.

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

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SAFE. 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, September 18th. Truist Financial increased their price target on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research note on Thursday, September 19th. Finally, Wedbush increased their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Safehold currently has an average rating of “Moderate Buy” and an average price target of $28.56.

Safehold Stock Performance

Shares of NYSE SAFE opened at $26.31 on Friday. The stock has a market cap of $1.88 billion, a price-to-earnings ratio of -58.47 and a beta of 1.65. The company has a current ratio of 38.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.76. Safehold Inc. has a 1-year low of $15.00 and a 1-year high of $28.80. The stock’s 50-day moving average is $24.52 and its 200 day moving average is $21.26.

Safehold (NYSE:SAFE) last announced 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. The company had revenue of $89.90 million for the quarter, compared to analysts’ expectations of $87.28 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. Safehold’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the firm posted $0.35 EPS. On average, sell-side analysts anticipate that Safehold Inc. will post 1.59 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a yield of 2.69%. Safehold’s dividend payout ratio (DPR) is currently -155.56%.

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.