1832 Asset Management L.P. Buys Shares of 350,000 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) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 350,000 shares of the company's stock, valued at approximately $6,552,000. 1832 Asset Management L.P. owned approximately 0.49% of Safehold at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of SAFE. Nuveen LLC purchased a new stake in Safehold in the first quarter worth $4,086,000. First Trust Advisors LP boosted its position in Safehold by 410.3% in the fourth quarter. First Trust Advisors LP now owns 248,997 shares of the company's stock worth $4,601,000 after purchasing an additional 200,204 shares during the last quarter. BNP Paribas Financial Markets purchased a new position in shares of Safehold during the 4th quarter valued at about $1,781,000. Vanguard Group Inc. raised its stake in Safehold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company's stock valued at $146,352,000 after purchasing an additional 93,236 shares during the period. Finally, Northern Trust Corp increased its stake in 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 acquiring an additional 93,173 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on SAFE. The Goldman Sachs Group dropped their target price on Safehold from $28.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Royal Bank Of Canada dropped their price objective on Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Mizuho dropped their price objective on Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Truist Financial lowered their target price on Safehold from $20.00 to $18.00 and set a "hold" rating for the company in a report on Monday, May 19th. Finally, JMP Securities lowered their target price on Safehold from $32.00 to $28.00 and set a "market outperform" rating for the company in a report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $21.89.

Safehold Stock Up 2.6%

NYSE:SAFE traded up $0.42 during mid-day trading on Friday, hitting $16.47. 398,379 shares of the company's stock traded hands, compared to its average volume of 468,866. The company has a fifty day moving average of $15.19 and a 200 day moving average of $16.00. Safehold Inc. has a twelve month low of $13.43 and a twelve month high of $28.80. The company has a market capitalization of $1.18 billion, a P/E ratio of 11.52, a P/E/G ratio of 1.48 and a beta of 1.83. The company has a debt-to-equity ratio of 1.85, a quick ratio of 36.02 and a current ratio of 36.02.

Safehold (NYSE:SAFE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The company had revenue of $93.84 million for the quarter, compared to analyst estimates of $94.05 million. Safehold had a return on equity of 4.70% and a net margin of 27.45%.The firm's quarterly revenue was up 4.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.41 EPS. On average, analysts forecast that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were paid a $0.177 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.3%. Safehold's dividend payout ratio is presently 49.65%.

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.