328,214 Shares in Safehold Inc. $SAFE Bought by Bank of America Corp DE

Key Points

• Bank of America acquired 328,214 Safehold shares during the second quarter, valued at approximately $5.15 million and representing about 0.46% of the company.
• Institutional investors own 70.38% of Safehold, while Director Robin Josephs sold 9,500 shares for $138,320, reducing her position by 9.64%.
• Safehold reported quarterly EPS of $0.42, matching estimates, and declared a $0.177 quarterly dividend, equivalent to a 5.8% annualized yield. Analysts maintain a consensus “Hold” rating with a $15.86 price target.

Bank of America Corp DE bought a new stake in shares of Safehold Inc. (NYSE:SAFE - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 328,214 shares of the company's stock, valued at approximately $5,153,000. Bank of America Corp DE owned approximately 0.46% of Safehold at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in SAFE. Resona Asset Management Co. Ltd. boosted its position in shares of Safehold by 7.6% in the first quarter. Resona Asset Management Co. Ltd. now owns 20,551 shares of the company's stock worth $280,000 after buying an additional 1,454 shares during the period. PNC Financial Services Group Inc. raised its position in shares of Safehold by 32.0% in the 1st quarter. PNC Financial Services Group Inc. now owns 6,094 shares of the company's stock valued at $82,000 after purchasing an additional 1,478 shares in the last quarter. Breakwater Capital Group raised its holdings in Safehold by 13.4% in the second quarter. Breakwater Capital Group now owns 15,054 shares of the company's stock valued at $236,000 after acquiring an additional 1,775 shares in the last quarter. Infrastructure Capital Advisors LLC raised its stake in shares of Safehold by 5.8% in the 4th quarter. Infrastructure Capital Advisors LLC now owns 46,783 shares of the company's stock valued at $640,000 after purchasing an additional 2,550 shares in the last quarter. Finally, Principal Financial Group Inc. raised its stake in Safehold by 1.3% during the second quarter. Principal Financial Group Inc. now owns 292,924 shares of the company's stock valued at $4,599,000 after buying an additional 3,703 shares in the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Safehold

In related news, Director Robin Josephs sold 9,500 shares of Safehold stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $14.56, for a total value of $138,320.00. Following the transaction, the director owned 89,068 shares of the company's stock, valued at approximately $1,296,830.08. This trade represents a 9.64% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.80% of the stock is currently owned by corporate insiders.

Safehold Stock Performance

SAFE opened at $12.24 on Tuesday. The company has a debt-to-equity ratio of 1.77, a current ratio of 34.37 and a quick ratio of 34.36. The company has a market capitalization of $866.70 million, a price-to-earnings ratio of 7.55, a price-to-earnings-growth ratio of 3.66 and a beta of 1.73. The business has a 50 day moving average price of $15.05 and a two-hundred day moving average price of $15.13. Safehold Inc. has a 1-year low of $11.93 and a 1-year high of $17.45.

Safehold (NYSE:SAFE - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. Safehold had a net margin of 27.70% and a return on equity of 4.76%. The firm had revenue of $114.65 million for the quarter, compared to analysts' expectations of $110.78 million. Research analysts predict that Safehold Inc. will post 1.64 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 15th. Stockholders of record on Wednesday, September 30th will be paid a dividend of $0.1770 per share. The ex-dividend date of this dividend is Wednesday, September 30th. This represents a $0.71 annualized dividend and a dividend yield of 5.8%. Safehold's dividend payout ratio (DPR) is currently 43.83%.

Wall Street Analysts Forecast Growth

SAFE has been the topic of a number of research reports. Zacks Research raised shares of Safehold from a "strong sell" rating to a "hold" rating in a report on Tuesday, July 21st. JPMorgan Chase & Co. downgraded Safehold from a "neutral" rating to an "underweight" rating and set a $14.00 price target on the stock. in a report on Thursday, September 24th. Wall Street Zen upgraded Safehold from a "sell" rating to a "hold" rating in a research report on Saturday, July 4th. Mizuho reduced their price objective on Safehold from $16.00 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, September 17th. Finally, Weiss Ratings upgraded Safehold from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Two analysts have rated the stock with a Buy rating, seven have given a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $15.86.

About Safehold

Safehold Inc NYSE: SAFE is a real estate investment trust focused on owning and managing ground leases. Through its ground lease structure, Safehold acquires the land beneath commercial real estate properties and leases it to property owners under long-term agreements, allowing those owners to retain ownership of and operate the buildings on the sites.

The company's ground lease investments support a range of property types, including multifamily housing, office buildings, hotels, life sciences facilities, student housing, industrial properties and retail assets.

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