Everence Capital Management Inc. Purchases Shares of 9,118 Safehold Inc. (NYSE:SAFE)

Everence Capital Management Inc. purchased a new stake in Safehold Inc. (NYSE:SAFE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 9,118 shares of the company’s stock, valued at approximately $213,000.

Other hedge funds also recently added to or reduced their stakes in the company. State of Wyoming purchased a new position in Safehold in the second quarter valued at approximately $25,000. Fifth Third Bancorp grew its position in shares of Safehold by 1,240.4% during the third quarter. Fifth Third Bancorp now owns 1,394 shares of the company’s stock worth $25,000 after acquiring an additional 1,290 shares during the last quarter. Belpointe Asset Management LLC grew its position in shares of Safehold by 455.8% during the first quarter. Belpointe Asset Management LLC now owns 1,395 shares of the company’s stock worth $41,000 after acquiring an additional 1,144 shares during the last quarter. Versant Capital Management Inc grew its position in shares of Safehold by 197.7% during the fourth quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock worth $33,000 after acquiring an additional 931 shares during the last quarter. Finally, First Manhattan Co. purchased a new position in shares of Safehold during the first quarter worth approximately $81,000. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Mizuho lowered their price objective on shares of Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Jefferies Financial Group assumed coverage on shares of Safehold in a research report on Thursday, January 4th. They issued a “buy” rating and a $33.00 price objective on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday. Royal Bank of Canada lowered their price objective on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, The Goldman Sachs Group lifted their price objective on shares of Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $28.40.

Safehold Price Performance

Safehold stock opened at $18.95 on Friday. Safehold Inc. has a one year low of $15.00 and a one year high of $29.59. The company has a debt-to-equity ratio of 1.78, a quick ratio of 36.61 and a current ratio of 36.61. The business has a fifty day moving average of $20.10 and a two-hundred day moving average of $19.85. The company has a market cap of $1.35 billion, a P/E ratio of -23.40 and a beta of 1.46.

Safehold (NYSE:SAFE) last released its earnings results on Monday, February 12th. The company reported $0.36 EPS for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The company had revenue of $103.00 million during the quarter, compared to the consensus estimate of $84.89 million. During the same quarter last year, the company earned ($6.00) earnings per share. Safehold’s quarterly revenue was up 40.3% compared to the same quarter last year. As a group, analysts predict that Safehold Inc. will post 1.52 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Wednesday, March 27th. Safehold’s dividend payout ratio (DPR) is presently -86.42%.

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.