Vanguard Group Inc. Lowers Stake in Safehold Inc. (NYSE:SAFE)

Vanguard Group Inc. cut its holdings in Safehold Inc. (NYSE:SAFE) by 2.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 7,724,714 shares of the company’s stock after selling 191,740 shares during the quarter. Vanguard Group Inc. owned about 0.11% of Safehold worth $142,753,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. State Street Corp raised its stake in Safehold by 2.0% during the 3rd quarter. State Street Corp now owns 2,618,033 shares of the company’s stock valued at $69,131,000 after acquiring an additional 51,035 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of Safehold by 11.1% in the fourth quarter. American Century Companies Inc. now owns 1,515,743 shares of the company’s stock valued at $28,011,000 after purchasing an additional 150,976 shares during the period. Geode Capital Management LLC raised its stake in shares of Safehold by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock worth $32,734,000 after purchasing an additional 38,074 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Safehold by 4.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company’s stock worth $13,251,000 after purchasing an additional 29,348 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in Safehold by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company’s stock valued at $17,369,000 after buying an additional 91,965 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Wall Street Analyst Weigh In

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

Safehold Trading Down 6.4 %

Shares of SAFE stock opened at $16.57 on Tuesday. The stock has a market cap of $1.19 billion, a P/E ratio of 11.19 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. Safehold Inc. has a fifty-two week low of $15.55 and a fifty-two week high of $28.80. The business has a fifty day simple moving average of $17.78 and a 200-day simple moving average of $19.92.

Safehold (NYSE:SAFE) last posted its earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, meeting 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 in the prior year, the company posted $0.36 earnings per share. On average, analysts forecast that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.177 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.71 annualized dividend and a dividend yield of 4.27%. Safehold’s dividend payout ratio is currently 47.30%.

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.