Safehold Inc (NYSE:SAFE) was the recipient of a large decrease in short interest in the month of August. As of August 31st, there was short interest totalling 566,000 shares, a decrease of 35.3% from the July 31st total of 874,900 shares. Based on an average trading volume of 126,300 shares, the days-to-cover ratio is presently 4.5 days. Approximately 4.8% of the company’s stock are sold short.
Shares of SAFE traded up $1.54 during trading on Friday, reaching $30.43. The company’s stock had a trading volume of 128,700 shares, compared to its average volume of 78,245. The company has a fifty day moving average of $29.94 and a two-hundred day moving average of $26.94. Safehold has a twelve month low of $16.35 and a twelve month high of $34.14. The company has a market cap of $1.04 billion, a price-to-earnings ratio of 47.55 and a beta of 0.34.
Safehold (NYSE:SAFE) last announced its earnings results on Friday, July 26th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.12). The business had revenue of $19.68 million during the quarter, compared to analyst estimates of $19.77 million. Safehold had a net margin of 32.29% and a return on equity of 4.57%. On average, analysts anticipate that Safehold will post 1.16 earnings per share for the current fiscal year.
In other Safehold news, Director Craig M. Hatkoff bought 23,000 shares of the business’s stock in a transaction on Wednesday, August 28th. The shares were bought at an average cost of $4.42 per share, with a total value of $101,660.00. Also, major shareholder Istar Inc. bought 22,500 shares of the business’s stock in a transaction on Friday, September 6th. The stock was acquired at an average cost of $28.59 per share, for a total transaction of $643,275.00. Following the completion of the transaction, the insider now owns 26,923,393 shares in the company, valued at $769,739,805.87. The disclosure for this purchase can be found here. In the last 90 days, insiders acquired 361,242 shares of company stock valued at $10,270,882. 1.47% of the stock is owned by company insiders.
Hedge funds have recently bought and sold shares of the stock. BNP Paribas Arbitrage SA acquired a new stake in shares of Safehold during the 2nd quarter valued at approximately $36,000. Nisa Investment Advisors LLC raised its position in shares of Safehold by 83.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,561 shares of the company’s stock valued at $47,000 after acquiring an additional 711 shares in the last quarter. Optimum Investment Advisors acquired a new stake in shares of Safehold during the 2nd quarter valued at approximately $103,000. Bessemer Group Inc. acquired a new stake in shares of Safehold during the 2nd quarter valued at approximately $184,000. Finally, Acadian Asset Management LLC raised its position in shares of Safehold by 49.4% during the 2nd quarter. Acadian Asset Management LLC now owns 7,446 shares of the company’s stock valued at $225,000 after acquiring an additional 2,462 shares in the last quarter. 18.51% of the stock is currently owned by institutional investors and hedge funds.
A number of brokerages have issued reports on SAFE. Barclays upped their target price on Safehold from $25.00 to $26.00 and gave the company an “underweight” rating in a research report on Sunday, August 18th. ValuEngine lowered Safehold from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Zacks Investment Research raised Safehold from a “hold” rating to a “strong-buy” rating and set a $33.00 target price on the stock in a research report on Saturday, August 10th. Finally, TheStreet raised Safehold from a “c” rating to a “b-” rating in a research report on Wednesday, August 7th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $25.83.
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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.
Further Reading: Equal Weight Rating
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