HGI Capital Management LLC Acquires New Shares 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 acquired a new stake in shares of Safehold Inc. (NYSE:SAFE - Free Report) during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 196,746 shares of the company's stock, valued at approximately $3,683,000. Safehold comprises approximately 4.6% of HGI Capital Management LLC's portfolio, making the stock its 11th largest holding. HGI Capital Management LLC owned 0.27% of Safehold as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in the business. AlphaQuest LLC boosted its stake in Safehold by 4.2% in 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 during the last quarter. 1832 Asset Management L.P. acquired a new stake in Safehold in the 1st quarter worth about $6,552,000. T. Rowe Price Investment Management Inc. boosted its stake in 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. EntryPoint Capital LLC boosted its stake in Safehold by 134.5% in 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 during the last quarter. Finally, Hsbc Holdings PLC boosted its stake in Safehold by 29.5% in 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 during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on SAFE. Mizuho decreased their price target on Safehold from $19.00 to $16.00 and set a "neutral" rating on the stock in a research note on Monday, June 16th. JMP Securities decreased their price target on Safehold from $32.00 to $28.00 and set a "market outperform" rating on the stock in a research note on Tuesday, August 12th. The Goldman Sachs Group decreased their price target on Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a research note on Wednesday, May 14th. JPMorgan Chase & Co. cut their price objective on Safehold from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Finally, Truist Financial cut their price objective on Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, May 19th. Four investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $21.89.

Safehold Trading Up 2.6%

Shares of Safehold stock traded up $0.42 during trading hours on Monday, reaching $16.47. The stock had a trading volume of 398,379 shares, compared to its average volume of 447,557. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.48 and a beta of 1.85. The company has a current ratio of 36.02, a quick ratio of 36.02 and a debt-to-equity ratio of 1.85. Safehold Inc. has a 1 year low of $13.43 and a 1 year high of $28.80. The firm has a 50 day simple moving average of $15.19 and a two-hundred day simple moving average of $15.99.

Safehold (NYSE:SAFE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, meeting the consensus estimate 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 return on equity of 4.70% and a net margin of 27.45%.The company's revenue was up 4.3% on a year-over-year basis. During the same period last year, the business posted $0.41 EPS. As a group, equities research analysts anticipate that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

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

Safehold Company 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.