Allspring Global Investments Holdings LLC Sells 201,188 Shares of Safehold Inc. (NYSE:SAFE)

Allspring Global Investments Holdings LLC cut its position in Safehold Inc. (NYSE:SAFE - Free Report) by 88.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor 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 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. First Citizens Bank & Trust Co. bought a new stake in shares of Safehold during the 1st quarter valued at approximately $192,000. Breakwater Capital Group grew its holdings in shares of Safehold by 49.0% during the 1st quarter. Breakwater Capital Group now owns 18,589 shares of the company's stock valued at $348,000 after purchasing an additional 6,112 shares during the last quarter. GAMMA Investing LLC grew its holdings in shares of Safehold by 2,476.8% during the 1st quarter. GAMMA Investing LLC now owns 33,808 shares of the company's stock valued at $633,000 after purchasing an additional 32,496 shares during the last quarter. Versant Capital Management Inc grew its holdings in shares of Safehold by 73.9% during the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company's stock valued at $44,000 after purchasing an additional 1,010 shares during the last quarter. Finally, Two Sigma Investments LP grew its holdings in shares of Safehold by 56.7% during the 4th quarter. Two Sigma Investments LP now owns 29,687 shares of the company's stock valued at $549,000 after purchasing an additional 10,740 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Stock Down 1.6%

SAFE traded down $0.25 during trading on Friday, hitting $15.35. 359,883 shares of the company's stock were exchanged, compared to its average volume of 406,765. The company has a quick ratio of 37.17, a current ratio of 37.17 and a debt-to-equity ratio of 1.82. The business's 50 day moving average is $15.40 and its two-hundred day moving average is $16.54. Safehold Inc. has a fifty-two week low of $13.68 and a fifty-two week high of $28.80. The stock has a market cap of $1.10 billion, a P/E ratio of 10.51, a PEG 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 (EPS) 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 firm had revenue of $97.68 million during the quarter, compared to analyst estimates of $95.55 million. During the same quarter in the prior year, the business posted $0.43 EPS. The business's revenue was up 4.8% compared to the same quarter last year. As a group, equities analysts expect that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th will be paid a $0.177 dividend. The ex-dividend date is Monday, June 30th. This represents a $0.71 annualized dividend and a dividend yield of 4.61%. Safehold's payout ratio is 48.63%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on SAFE shares. Truist Financial reduced their target price on shares of Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, May 19th. Mizuho dropped their price target on shares of Safehold from $19.00 to $16.00 and set a "neutral" rating on the stock in a research report on Monday, June 16th. Wedbush restated a "neutral" rating and issued a $20.00 price target on shares of Safehold in a research report on Monday, March 31st. Morgan Stanley dropped their target price on shares of Safehold from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Finally, The Goldman Sachs Group dropped their target price on shares of Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, Safehold currently has an average rating of "Hold" and a consensus target price of $22.33.

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.