HGI Capital Management LLC Makes New $3.68 Million Investment in Safehold Inc. $SAFE

Key Points

• HGI Capital Management LLC purchased 196,746 shares of Safehold Inc., valued at approximately $3.68 million, making it 4.6% of its portfolio.
• Analysts have adjusted their price targets for Safehold, with Goldman Sachs setting a new target of $25.00 while the average consensus price target is $21.89.
• Safehold declared a quarterly dividend of $0.177 per share, reflecting a dividend yield of 4.4% and a payout ratio of 49.65%.

HGI Capital Management LLC purchased a new position in shares of Safehold Inc. (NYSE:SAFE - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 196,746 shares of the company's stock, valued at approximately $3,683,000. Safehold makes up about 4.6% of HGI Capital Management LLC's holdings, making the stock its 11th biggest position. HGI Capital Management LLC owned approximately 0.27% of Safehold at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. AlphaQuest LLC lifted its position in Safehold by 4.2% during the 1st quarter. AlphaQuest LLC now owns 46,928 shares of the company's stock worth $878,000 after buying an additional 1,902 shares in the last quarter. 1832 Asset Management L.P. bought a new stake in Safehold during the 1st quarter worth about $6,552,000. T. Rowe Price Investment Management Inc. lifted its position in Safehold by 0.9% during 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 in the last quarter. EntryPoint Capital LLC lifted its position in Safehold by 134.5% during the 1st quarter. EntryPoint Capital LLC now owns 35,739 shares of the company's stock worth $669,000 after buying an additional 20,499 shares in the last quarter. Finally, Hsbc Holdings PLC lifted its position in Safehold by 29.5% during the 1st quarter. Hsbc Holdings PLC now owns 59,574 shares of the company's stock worth $1,110,000 after buying an additional 13,582 shares in the last quarter. 70.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on SAFE shares. Truist Financial lowered their price objective on shares of Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a research note on Monday, May 19th. Royal Bank Of Canada lowered their price objective on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. The Goldman Sachs Group lowered their price objective on shares of Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. Mizuho lowered their price objective on shares of Safehold from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. Finally, JMP Securities lowered their price objective on shares of Safehold from $32.00 to $28.00 and set a "market outperform" rating on the stock in a research note on Tuesday, August 12th. Four 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, Safehold has a consensus rating of "Hold" and an average target price of $21.89.

Safehold Stock Performance

SAFE traded down $0.54 on Tuesday, reaching $15.93. The company had a trading volume of 119,286 shares, compared to its average volume of 430,728. Safehold Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $28.80. The stock has a market cap of $1.14 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.48 and a beta of 1.85. The company's fifty day moving average is $15.20 and its 200 day moving average is $15.98. 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 quarterly earnings results on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, meeting analysts' consensus estimates of $0.39. Safehold had a net margin of 27.45% and a return on equity of 4.70%. The business had revenue of $93.84 million for the quarter, compared to analyst estimates of $94.05 million. During the same quarter in the prior year, the business earned $0.41 EPS. Safehold's quarterly revenue was up 4.3% on a year-over-year basis. As a group, analysts predict that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors 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 yield of 4.4%. Safehold's dividend payout ratio is 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.