Norges Bank Acquires New Position in Safehold Inc. (NYSE:SAFE)

Norges Bank purchased a new position in Safehold Inc. (NYSE:SAFE) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 138,110 shares of the company’s stock, valued at approximately $2,552,000. Norges Bank owned 0.19% of Safehold at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in SAFE. Rhumbline Advisers boosted its stake in Safehold by 0.4% during the fourth quarter. Rhumbline Advisers now owns 163,179 shares of the company’s stock worth $3,016,000 after buying an additional 663 shares during the period. M&T Bank Corp boosted its position in Safehold by 3.4% in the 4th quarter. M&T Bank Corp now owns 27,520 shares of the company’s stock valued at $509,000 after buying an additional 899 shares during the period. Corient Private Wealth LLC grew its stake in Safehold by 6.9% in the 4th quarter. Corient Private Wealth LLC now owns 14,260 shares of the company’s stock worth $264,000 after acquiring an additional 924 shares in the last quarter. Smartleaf Asset Management LLC raised its stake in shares of Safehold by 268.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock valued at $26,000 after acquiring an additional 1,020 shares in the last quarter. Finally, FMR LLC boosted its holdings in shares of Safehold by 24.9% in the third quarter. FMR LLC now owns 5,840 shares of the company’s stock valued at $153,000 after purchasing an additional 1,163 shares during the period. Institutional investors own 70.38% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on SAFE shares. Morgan Stanley lowered shares of Safehold from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. Wedbush reiterated a “neutral” rating and set a $20.00 price objective on shares of Safehold in a research note on Monday, March 31st. Mizuho cut their price target on shares of Safehold from $25.00 to $19.00 and set a “neutral” rating on the stock in a report on Thursday, April 3rd. JMP Securities reiterated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group cut their price objective on shares of Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, Safehold has an average rating of “Hold” and an average price target of $25.00.

Safehold Stock Performance

Shares of NYSE SAFE opened at $14.12 on Friday. The company has a market capitalization of $1.01 billion, a PE ratio of 9.54 and a beta of 1.63. The company has a debt-to-equity ratio of 1.82, a quick ratio of 36.59 and a current ratio of 36.59. The company’s fifty day moving average price is $17.66 and its 200 day moving average price is $19.53. Safehold Inc. has a 1 year low of $13.68 and a 1 year high of $28.80.

Safehold (NYSE:SAFE) last posted its earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same quarter last year, the company posted $0.36 EPS. On average, research analysts predict that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be given a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, March 31st. Safehold’s dividend payout ratio (DPR) is presently 47.30%.

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.