Allspring Global Investments Holdings LLC reduced its stake in shares of Safehold Inc. (NYSE:SAFE - Free Report) by 88.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,562 shares of the company's stock after selling 201,188 shares during the quarter. Allspring Global Investments Holdings LLC's holdings in Safehold were worth $486,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of SAFE. Smartleaf Asset Management LLC raised its stake in Safehold by 268.4% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company's stock valued at $26,000 after purchasing an additional 1,020 shares during the last quarter. Versant Capital Management Inc raised its stake in shares of Safehold by 73.9% in the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company's stock valued at $44,000 after buying an additional 1,010 shares in the last quarter. Tower Research Capital LLC TRC raised its stake in shares of Safehold by 23.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company's stock valued at $83,000 after buying an additional 849 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in shares of Safehold by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company's stock valued at $156,000 after buying an additional 1,173 shares in the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Safehold in the 4th quarter valued at $169,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.
Safehold Price Performance
Shares of SAFE traded up $0.07 during trading hours on Monday, hitting $15.42. The stock had a trading volume of 318,732 shares, compared to its average volume of 405,521. The company's fifty day moving average is $15.38 and its two-hundred day moving average is $16.48. The company has a debt-to-equity ratio of 1.82, a current ratio of 37.17 and a quick ratio of 37.17. Safehold Inc. has a 52 week low of $13.68 and a 52 week high of $28.80. The stock has a market capitalization of $1.11 billion, a price-to-earnings ratio of 10.56, a P/E/G ratio of 1.51 and a beta of 1.79.
Safehold (NYSE:SAFE - Get Free Report) last posted its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. Safehold had a net margin of 28.20% and a return on equity of 4.76%. The business had revenue of $97.68 million for the quarter, compared to analyst estimates of $95.55 million. During the same quarter in the prior year, the firm earned $0.43 EPS. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts anticipate that Safehold Inc. will post 1.58 EPS for the current year.
Safehold Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 4.59%. The ex-dividend date is Monday, June 30th. Safehold's dividend payout ratio is currently 48.63%.
Analysts Set New Price Targets
A number of brokerages have recently issued reports on SAFE. Royal Bank Of Canada dropped their price objective on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. JMP Securities restated a "market outperform" rating and issued a $32.00 price objective on shares of Safehold in a research note on Thursday, June 26th. JPMorgan Chase & Co. dropped their price objective on shares of Safehold from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Wedbush restated a "neutral" rating and issued a $20.00 price objective on shares of Safehold in a research note on Monday, March 31st. Finally, Mizuho dropped their price objective on shares of Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, June 16th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $22.33.
View Our Latest Analysis on SAFE
Safehold Profile
(
Free Report)
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.
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