Invesco Ltd. Increases Stake in Safehold Inc. (NYSE:SAFE)

Invesco Ltd. raised its stake in shares of Safehold Inc. (NYSE:SAFE) by 308.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 646,222 shares of the company’s stock after purchasing an additional 487,886 shares during the period. Invesco Ltd. owned 0.90% of Safehold worth $11,942,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Smartleaf Asset Management LLC grew its position in 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 during the period. FMR LLC grew its holdings in shares of Safehold by 24.9% during the 3rd quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after purchasing an additional 1,163 shares during the period. PNC Financial Services Group Inc. increased its position in Safehold by 16.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company’s stock worth $156,000 after purchasing an additional 1,173 shares in the last quarter. KLP Kapitalforvaltning AS purchased a new position in Safehold in the fourth quarter valued at approximately $169,000. Finally, Sage Investment Counsel LLC acquired a new position in Safehold during the fourth quarter valued at approximately $186,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Price Performance

SAFE stock opened at $14.67 on Tuesday. The company has a market capitalization of $1.05 billion, a PE ratio of 9.91 and a beta of 1.63. The company has a quick ratio of 36.59, a current ratio of 36.59 and a debt-to-equity ratio of 1.82. The stock’s 50 day moving average is $17.39 and its two-hundred day moving average is $19.04. Safehold Inc. has a 52-week low of $13.68 and a 52-week high of $28.80.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same quarter in the prior year, the business posted $0.36 EPS. Analysts predict that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 4.83%. The ex-dividend date of this dividend was Monday, March 31st. Safehold’s payout ratio is currently 47.30%.

Wall Street Analysts Forecast Growth

SAFE has been the topic of a number of research reports. JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Thursday, February 6th. Wedbush restated a “neutral” rating and set a $20.00 price objective on shares of Safehold in a research note on Monday, March 31st. The Goldman Sachs Group lowered their target price on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Mizuho reduced their price target on Safehold from $25.00 to $19.00 and set a “neutral” rating on the stock in a research report on Thursday, April 3rd. Finally, Morgan Stanley downgraded shares of Safehold from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $30.00 to $19.00 in a research report on Wednesday, January 15th. Four investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to MarketBeat, Safehold currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.50.

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.