Algert Global LLC Takes $1.64 Million Position in Safehold Inc. $SAFE

Key Points

• Algert Global LLC acquired a new stake in Safehold Inc., purchasing 87,770 shares valued at approximately $1.6 million, representing about 0.12% ownership of the company.
• Several institutional investors, including Wells Fargo and First Trust Advisors, have significantly increased their stakes in Safehold during the fourth quarter, highlighting growing interest in the company.
• Analysts have varied target price revisions for Safehold, with an average rating of "Hold" and a target price of $21.89, showing mixed sentiment regarding its stock performance.

Algert Global LLC acquired a new stake in Safehold Inc. (NYSE:SAFE - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 87,770 shares of the company's stock, valued at approximately $1,643,000. Algert Global LLC owned about 0.12% of Safehold as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. State of New Jersey Common Pension Fund D grew its position in Safehold by 4.9% in the 1st quarter. State of New Jersey Common Pension Fund D now owns 214,132 shares of the company's stock valued at $4,009,000 after acquiring an additional 10,000 shares during the last quarter. Resona Asset Management Co. Ltd. lifted its holdings in shares of Safehold by 7.6% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 19,923 shares of the company's stock worth $362,000 after buying an additional 1,401 shares during the period. Public Sector Pension Investment Board lifted its holdings in shares of Safehold by 27.3% in the 1st quarter. Public Sector Pension Investment Board now owns 145,017 shares of the company's stock worth $2,715,000 after buying an additional 31,088 shares during the period. Nuveen LLC purchased a new stake in shares of Safehold in the 1st quarter worth $4,086,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its holdings in shares of Safehold by 11.5% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 31,703 shares of the company's stock worth $593,000 after buying an additional 3,271 shares during the period. Institutional investors own 70.38% of the company's stock.

Safehold Stock Down 0.5%

NYSE:SAFE traded down $0.08 during mid-day trading on Tuesday, hitting $15.94. 89,798 shares of the company's stock traded hands, compared to its average volume of 434,571. The company has a fifty day moving average of $15.13 and a 200 day moving average of $16.02. 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 $1.14 billion, a P/E ratio of 11.13, a P/E/G ratio of 1.46 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. Safehold had a return on equity of 4.70% and a net margin of 27.45%.The company had revenue of $93.84 million for the quarter, compared to analyst estimates of $94.05 million. During the same period in the prior year, the company posted $0.41 EPS. The firm's quarterly revenue was up 4.3% compared to the same quarter last year. On average, analysts forecast that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have weighed in on SAFE shares. Mizuho lowered their target price on Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, June 16th. 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. Morgan Stanley lowered their target price on Safehold from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Royal Bank Of Canada lowered their target price on Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a report on Monday, May 19th. Finally, 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. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $21.89.

About Safehold

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.