Corebridge Financial Inc. Has $506,000 Stock Position in Safehold Inc. (NYSE:SAFE)

Corebridge Financial Inc. reduced its stake in Safehold Inc. (NYSE:SAFE) by 7.2% during the 4th quarter, HoldingsChannel reports. The firm owned 27,361 shares of the company’s stock after selling 2,128 shares during the quarter. Corebridge Financial Inc.’s holdings in Safehold were worth $506,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of SAFE. KLP Kapitalforvaltning AS bought a new stake in shares of Safehold in the 4th quarter worth about $169,000. American Century Companies Inc. grew its stake in Safehold by 11.1% during the fourth quarter. American Century Companies Inc. now owns 1,515,743 shares of the company’s stock worth $28,011,000 after buying an additional 150,976 shares during the last quarter. Quantbot Technologies LP bought a new stake in Safehold during the fourth quarter worth about $304,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in shares of Safehold by 40.5% during the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 26,507 shares of the company’s stock worth $490,000 after buying an additional 7,638 shares in the last quarter. Finally, Berkeley Capital Partners LLC raised its stake in shares of Safehold by 19.8% in the fourth quarter. Berkeley Capital Partners LLC now owns 65,297 shares of the company’s stock valued at $1,207,000 after acquiring an additional 10,789 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently commented on SAFE shares. The Goldman Sachs Group decreased their price target on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research report on Tuesday, January 7th. Wedbush restated a “neutral” rating and set a $20.00 target price on shares of Safehold in a report on Monday, March 31st. Mizuho cut their price target on Safehold from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. JMP Securities reissued a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a report on Thursday, February 6th. Finally, Morgan Stanley cut 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. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat.com, Safehold has a consensus rating of “Hold” and a consensus price target of $25.00.

Safehold Price Performance

Safehold stock opened at $15.05 on Wednesday. The business’s 50-day simple moving average is $17.74 and its 200 day simple moving average is $19.81. 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 has a market cap of $1.08 billion, a price-to-earnings ratio of 10.17 and a beta of 1.63. Safehold Inc. has a 12-month low of $14.92 and a 12-month high of $28.80.

Safehold (NYSE:SAFE) last issued its earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) 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 period last year, the firm posted $0.36 EPS. As a group, research analysts anticipate that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date is Monday, March 31st. Safehold’s dividend payout ratio is presently 47.30%.

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.