JPMorgan Chase & Co. Buys 91,965 Shares of Safehold Inc. (NYSE:SAFE)

JPMorgan Chase & Co. boosted its position in Safehold Inc. (NYSE:SAFE) by 16.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 662,179 shares of the company’s stock after purchasing an additional 91,965 shares during the period. JPMorgan Chase & Co. owned about 0.93% of Safehold worth $17,369,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of SAFE. GAMMA Investing LLC lifted its position in shares of Safehold by 108.7% during the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after buying an additional 920 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 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 boosted its position in Safehold by 79.3% during the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock worth $76,000 after purchasing an additional 1,275 shares during the period. Vestcor Inc purchased a new position in shares of Safehold in the third quarter worth about $110,000. Finally, FMR LLC increased its stake in shares of Safehold by 24.9% in the third quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after purchasing an additional 1,163 shares in the last quarter. 70.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SAFE has been the subject of several analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a report on Tuesday, October 29th. Mizuho increased their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wedbush reiterated a “neutral” rating and issued a $23.00 price target (down from $25.00) on shares of Safehold in a research report on Monday, November 4th. Royal Bank of Canada boosted their price objective on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Thursday, September 19th. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, Safehold currently has a consensus rating of “Moderate Buy” and an average price target of $26.88.

Safehold Trading Down 2.7 %

Shares of SAFE opened at $16.50 on Friday. Safehold Inc. has a 1-year low of $16.30 and a 1-year high of $28.80. The company has a market capitalization of $1.18 billion, a P/E ratio of 9.71 and a beta of 1.67. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The firm’s 50 day simple moving average is $20.01 and its 200 day simple moving average is $22.25.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. During the same quarter last year, the company posted $0.33 EPS. The business’s quarterly revenue was up 6.0% on a year-over-year basis. Sell-side analysts forecast that Safehold Inc. will post 1.56 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.29%. The ex-dividend date of this dividend is Monday, December 30th. Safehold’s payout ratio is currently 41.18%.

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.