NewEdge Wealth LLC Trims Stock Holdings in Safehold Inc. $SAFE

NewEdge Wealth LLC decreased its position in Safehold Inc. (NYSE:SAFE) by 19.5% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 767,109 shares of the company’s stock after selling 186,089 shares during the quarter. NewEdge Wealth LLC owned approximately 1.07% of Safehold worth $10,379,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Addison Capital Co raised its stake in shares of Safehold by 30.2% during the fourth quarter. Addison Capital Co now owns 179,465 shares of the company’s stock valued at $2,457,000 after purchasing an additional 41,600 shares during the period. Denali Advisors LLC purchased a new position in shares of Safehold in the fourth quarter valued at $1,258,000. SG Americas Securities LLC grew its holdings in Safehold by 237.0% during the 1st quarter. SG Americas Securities LLC now owns 279,205 shares of the company’s stock valued at $3,778,000 after purchasing an additional 196,345 shares in the last quarter. Allstate Corp grew its holdings in Safehold by 175.7% during the 4th quarter. Allstate Corp now owns 64,736 shares of the company’s stock valued at $886,000 after purchasing an additional 41,252 shares in the last quarter. Finally, Jump Financial LLC purchased a new stake in Safehold during the 2nd quarter worth $1,037,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have commented on SAFE. Royal Bank Of Canada lowered shares of Safehold from a “market outperform” rating to a “sector perform” rating and cut their price objective for the stock from $18.00 to $16.00 in a report on Friday, May 1st. Zacks Research upgraded Safehold from a “strong sell” rating to a “hold” rating in a research note on Tuesday. Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Safehold in a research report on Friday, July 17th. The Goldman Sachs Group reduced their price target on Safehold from $27.00 to $23.00 and set a “buy” rating for the company in a report on Friday, May 15th. Finally, Wall Street Zen upgraded Safehold from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, Safehold presently has a consensus rating of “Hold” and a consensus target price of $18.71.

Safehold Price Performance

SAFE opened at $16.07 on Friday. The company has a 50-day moving average of $15.64 and a 200-day moving average of $15.17. The company has a market capitalization of $1.15 billion, a P/E ratio of 10.11, a PEG ratio of 2.13 and a beta of 1.77. Safehold Inc. has a 1-year low of $12.76 and a 1-year high of $17.45. The company has a debt-to-equity ratio of 1.91, a quick ratio of 35.59 and a current ratio of 35.58.

Safehold (NYSE:SAFE) last issued its earnings results on Thursday, April 30th. The company reported $0.40 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.43 by ($0.03). Safehold had a net margin of 28.58% and a return on equity of 4.78%. The company had revenue of $110.85 million during the quarter, compared to analyst estimates of $96.51 million. Equities analysts expect that Safehold Inc. will post 1.64 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 4.4%. The ex-dividend date of this dividend was Tuesday, June 30th. Safehold’s payout ratio is currently 44.03%.

Safehold Company Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.