Cubist Systematic Strategies LLC Reduces Stake in Safehold Inc. (NYSE:SAFE)

Cubist Systematic Strategies LLC decreased its stake in shares of Safehold Inc. (NYSE:SAFE) by 40.0% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 21,671 shares of the company’s stock after selling 14,464 shares during the period. Cubist Systematic Strategies LLC’s holdings in Safehold were worth $418,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. PNC Financial Services Group Inc. raised 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 valued at $175,000 after acquiring an additional 2,965 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of 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 acquiring an additional 702 shares in the last quarter. Perpetual Ltd raised its holdings in shares of Safehold by 15.6% in the 1st quarter. Perpetual Ltd now owns 73,858 shares of the company’s stock valued at $1,521,000 after acquiring an additional 9,988 shares in the last quarter. Roble Belko & Company Inc purchased a new stake in shares of Safehold in the 1st quarter valued at about $45,000. Finally, Breakwater Capital Group purchased a new stake in shares of Safehold in the 1st quarter valued at about $225,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SAFE. Truist Financial increased their price objective on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a research report on Thursday, September 19th. Wedbush increased their price objective on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, July 31st. Finally, The Goldman Sachs Group increased their price objective on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $28.56.

Safehold Price Performance

Shares of SAFE stock opened at $24.54 on Monday. The firm has a market cap of $1.75 billion, a P/E ratio of -54.53 and a beta of 1.66. Safehold Inc. has a fifty-two week low of $15.00 and a fifty-two week high of $28.80. The business’s 50 day moving average price is $25.00 and its 200-day moving average price is $21.61. 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 (NYSE:SAFE) last issued its quarterly earnings data on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $89.90 million for the quarter, compared to analyst estimates of $87.28 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. On average, equities research analysts anticipate that Safehold Inc. will post 1.59 earnings per share for the current year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given 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 dividend yield of 2.89%. Safehold’s dividend payout ratio is currently -155.56%.

Safehold Company 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.