Algert Global LLC cut its holdings in Safehold Inc. (NYSE:SAFE - Free Report) by 24.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 608,243 shares of the company's stock after selling 192,486 shares during the period. Algert Global LLC owned about 0.86% of Safehold worth $9,549,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the business. Infrastructure Capital Advisors LLC bought a new stake in shares of Safehold in the 2nd quarter valued at approximately $1,138,000. Ieq Capital LLC purchased a new stake in Safehold during the 2nd quarter valued at $345,000. Denali Advisors LLC bought a new stake in Safehold in the second quarter worth $4,861,000. NewEdge Wealth LLC bought a new stake in Safehold in the second quarter worth $10,529,000. Finally, BlackRock Inc. boosted its stake in Safehold by 2.1% during the second quarter. BlackRock Inc. now owns 9,938,575 shares of the company's stock worth $156,036,000 after buying an additional 200,628 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several equities research analysts have recently weighed in on SAFE shares. Cantor Fitzgerald reissued a "neutral" rating on shares of Safehold in a research note on Tuesday, August 4th. Wall Street Zen raised shares of Safehold from a "sell" rating to a "hold" rating in a research note on Saturday, July 4th. Weiss Ratings upgraded shares of Safehold from a "hold (c-)" rating to a "hold (c)" rating in a report on Friday, July 31st. The Goldman Sachs Group reduced their price objective on shares of Safehold from $27.00 to $23.00 and set a "buy" rating on the stock in a research report on Friday, May 15th. Finally, Royal Bank Of Canada downgraded shares of Safehold from a "market outperform" rating to a "sector perform" rating and decreased their price objective for the stock from $18.00 to $16.00 in a research note on Friday, May 1st. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, Safehold presently has a consensus rating of "Hold" and a consensus price target of $17.17.
Read Our Latest Analysis on SAFE
Safehold Stock Down 0.1%
Shares of SAFE opened at $15.51 on Wednesday. The firm has a fifty day moving average price of $15.96 and a 200-day moving average price of $15.38. The company has a current ratio of 34.37, a quick ratio of 34.36 and a debt-to-equity ratio of 1.77. The firm has a market capitalization of $1.10 billion, a P/E ratio of 9.58, a P/E/G ratio of 4.63 and a beta of 1.75. Safehold Inc. has a 12-month low of $12.76 and a 12-month high of $17.45.
Safehold (NYSE:SAFE - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $114.65 million for the quarter, compared to the consensus estimate of $110.78 million. Safehold had a net margin of 27.70% and a return on equity of 4.76%. Equities research analysts expect that Safehold Inc. will post 1.64 earnings per share for the current year.
Safehold Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 4.6%. The ex-dividend date of this dividend was Tuesday, June 30th. Safehold's payout ratio is currently 43.83%.
About Safehold
(
Free Report)
Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.
Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.
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