Royal Bank of Canada Buys 49,736 Shares of Safehold Inc. $SAFE

Royal Bank of Canada lifted its position in Safehold Inc. (NYSE:SAFE) by 121.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 90,756 shares of the company’s stock after acquiring an additional 49,736 shares during the period. Royal Bank of Canada owned approximately 0.13% of Safehold worth $1,228,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Infrastructure Capital Advisors LLC increased its stake in Safehold by 23.6% in the first quarter. Infrastructure Capital Advisors LLC now owns 57,833 shares of the company’s stock valued at $782,000 after purchasing an additional 11,050 shares in the last quarter. Quantinno Capital Management LP boosted its position in shares of Safehold by 46.4% during the first quarter. Quantinno Capital Management LP now owns 168,833 shares of the company’s stock worth $2,284,000 after purchasing an additional 53,540 shares in the last quarter. Renaissance Technologies LLC bought a new position in shares of Safehold during the first quarter worth $431,000. Public Employees Retirement System of Ohio grew its holdings in shares of Safehold by 227.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 64,075 shares of the company’s stock valued at $867,000 after buying an additional 44,530 shares during the period. Finally, Caxton Associates LLP acquired a new position in shares of Safehold in the 1st quarter valued at $168,000. Institutional investors own 70.38% of the company’s stock.

Safehold Price Performance

SAFE stock opened at $15.39 on Friday. The stock has a 50-day moving average price of $15.97 and a two-hundred day moving average price of $15.35. The stock has a market cap of $1.09 billion, a PE ratio of 9.50, a price-to-earnings-growth ratio of 4.53 and a beta of 1.75. The company has a current ratio of 34.37, a quick ratio of 34.36 and a debt-to-equity ratio of 1.77. Safehold Inc. has a 1 year low of $12.76 and a 1 year high of $17.45.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, meeting analysts’ consensus estimates of $0.42. The company had revenue of $114.65 million for the quarter, compared to analyst estimates of $110.78 million. Safehold had a return on equity of 4.76% and a net margin of 27.70%. Equities analysts forecast that Safehold Inc. will post 1.64 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were paid a $0.177 dividend. The ex-dividend date was Tuesday, June 30th. This represents a $0.71 annualized dividend and a yield of 4.6%. Safehold’s payout ratio is presently 43.83%.

Wall Street Analyst Weigh In

Several analysts recently commented on SAFE shares. Zacks Research raised Safehold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. The Goldman Sachs Group lowered 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. Cantor Fitzgerald reiterated a “neutral” rating on shares of Safehold in a report on Tuesday, August 4th. Weiss Ratings upgraded Safehold from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Finally, Wall Street Zen upgraded shares of Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $17.17.

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.