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

Key Points

• 1832 Asset Management L.P. has invested approximately $6.55 million in Safehold Inc., acquiring 350,000 shares, which represents about 0.49% of the company's stock.
• Safehold recently announced a quarterly dividend of $0.177, translating to an annual yield of 4.4% and a payout ratio of 49.65%.
• Safehold's shares have a current price of $16.1980 with recent earnings matching analyst expectations at $0.39 EPS for the last quarter.

1832 Asset Management L.P. bought a new position in Safehold Inc. (NYSE:SAFE - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The fund bought 350,000 shares of the company's stock, valued at approximately $6,552,000. 1832 Asset Management L.P. owned about 0.49% of Safehold as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of Safehold by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company's stock worth $146,352,000 after buying an additional 93,236 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Safehold by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,305,041 shares of the company's stock worth $80,591,000 after buying an additional 38,272 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Safehold by 17.4% in the 4th quarter. Northern Trust Corp now owns 628,137 shares of the company's stock worth $11,608,000 after buying an additional 93,173 shares during the last quarter. Peregrine Capital Management LLC increased its holdings 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 buying an additional 27,719 shares during the last quarter. Finally, First Trust Advisors LP increased its holdings in shares of Safehold by 410.3% in the 4th quarter. First Trust Advisors LP now owns 248,997 shares of the company's stock worth $4,601,000 after buying an additional 200,204 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors.

Safehold Price Performance

Shares of SAFE stock opened at $16.1980 on Monday. The company has a debt-to-equity ratio of 1.85, a current ratio of 36.02 and a quick ratio of 36.02. The company has a market capitalization of $1.16 billion, a P/E ratio of 11.33, a P/E/G ratio of 1.46 and a beta of 1.83. The company's 50-day simple moving average is $15.11 and its two-hundred day simple moving average is $16.03. Safehold Inc. has a one year low of $13.43 and a one year high of $28.80.

Safehold (NYSE:SAFE - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, hitting analysts' consensus estimates of $0.39. The business had revenue of $93.84 million for the quarter, compared to the consensus estimate of $94.05 million. Safehold had a net margin of 27.45% and a return on equity of 4.70%. The company's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.41 EPS. As a group, equities analysts anticipate that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on SAFE shares. Mizuho reduced their target price on shares of Safehold from $19.00 to $16.00 and set a "neutral" rating on the stock in a report on Monday, June 16th. JPMorgan Chase & Co. cut their price target on shares of Safehold from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Truist Financial cut their price target on shares of Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, May 19th. The Goldman Sachs Group cut their price target on shares of Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Finally, Morgan Stanley cut their price target on shares of Safehold from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 29th. Four research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $21.89.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.