1832 Asset Management L.P. Invests $6.55 Million in Safehold Inc. $SAFE

1832 Asset Management L.P. purchased a new position in Safehold Inc. (NYSE:SAFE) in the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 350,000 shares of the company’s stock, valued at approximately $6,552,000.

Other hedge funds have also recently modified their holdings of the company. New York State Teachers Retirement System lifted its position in shares of Safehold by 12.1% in the 1st quarter. New York State Teachers Retirement System now owns 51,068 shares of the company’s stock worth $956,000 after purchasing an additional 5,509 shares during the period. Peregrine Capital Management LLC lifted its position in shares of Safehold by 9.0% in the 1st quarter. Peregrine Capital Management LLC now owns 336,554 shares of the company’s stock worth $6,300,000 after purchasing an additional 27,719 shares during the period. GAMMA Investing LLC lifted its position in shares of Safehold by 2,476.8% in the 1st quarter. GAMMA Investing LLC now owns 33,808 shares of the company’s stock worth $633,000 after purchasing an additional 32,496 shares during the period. M&T Bank Corp lifted its position in shares of Safehold by 4.4% in the 1st quarter. M&T Bank Corp now owns 28,742 shares of the company’s stock worth $538,000 after purchasing an additional 1,222 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in shares of Safehold in the 1st quarter worth approximately $388,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Morgan Stanley lowered their price target on shares of Safehold from $19.00 to $17.00 and set an “equal weight” rating for the company in a research report on Tuesday, April 29th. JPMorgan Chase & Co. decreased their target price on shares of Safehold from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, July 9th. Truist Financial decreased their target price on shares of Safehold from $20.00 to $18.00 and set a “hold” rating for the company in a research report on Monday, May 19th. Mizuho decreased their target price on shares of Safehold from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, June 16th. Finally, Royal Bank Of Canada decreased their target price on shares of Safehold from $21.00 to $20.00 and set an “outperform” rating for the company in a research report on Monday, May 19th. Four equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $21.89.

Safehold Trading Up 4.8%

NYSE:SAFE opened at $16.1980 on Monday. Safehold Inc. has a 52 week low of $13.43 and a 52 week high of $28.80. The firm has a 50 day moving average of $15.11 and a 200 day moving average of $16.03. The company has a quick ratio of 36.02, a current ratio of 36.02 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $1.16 billion, a price-to-earnings ratio of 11.33, a PEG ratio of 1.46 and a beta of 1.83.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.39. The business had revenue of $93.84 million during the quarter, compared to analysts’ expectations of $94.05 million. Safehold had a net margin of 27.45% and a return on equity of 4.70%. The business’s quarterly revenue was up 4.3% on a year-over-year basis. During the same quarter last year, the company posted $0.41 earnings per share. As a group, sell-side analysts anticipate that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were issued a $0.177 dividend. The ex-dividend date of this dividend was Monday, June 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.4%. Safehold’s dividend payout ratio (DPR) is currently 49.65%.

About Safehold

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.