Envestnet Portfolio Solutions Inc. Acquires New Holdings in Safehold Inc. $SAFE

Key Points

• Envestnet Portfolio Solutions Inc. has acquired approximately 29,691 shares of Safehold Inc., valued at around $462,000, further increasing institutional investments in the company.
• Safehold recently reported quarterly earnings of $0.30 EPS with a net margin of 27.45% and has declared a quarterly dividend of $0.177 per share, reflecting a yield of 4.5%.
• Wall Street analysts have revised their target prices for Safehold's shares, with an average consensus target at $19.89, indicating a mixed outlook with three analysts rating it as "Buy" and seven as "Hold."

Envestnet Portfolio Solutions Inc. acquired a new stake in Safehold Inc. (NYSE:SAFE - Free Report) in the second quarter, according to the company in its most recent filing with the SEC. The firm acquired 29,691 shares of the company's stock, valued at approximately $462,000.

Other large investors have also added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its holdings in Safehold by 3.7% in the 1st quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company's stock valued at $8,120,000 after buying an additional 15,280 shares during the last quarter. Strs Ohio bought a new position in Safehold in the 1st quarter valued at approximately $555,000. New York State Teachers Retirement System increased its position in Safehold by 12.1% during the 1st quarter. New York State Teachers Retirement System now owns 51,068 shares of the company's stock valued at $956,000 after purchasing an additional 5,509 shares during the period. Peregrine Capital Management LLC increased its position in Safehold by 9.0% during the 1st quarter. Peregrine Capital Management LLC now owns 336,554 shares of the company's stock valued at $6,300,000 after purchasing an additional 27,719 shares during the period. Finally, Vanguard Group Inc. increased its position in Safehold by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company's stock valued at $146,352,000 after purchasing an additional 93,236 shares during the period. Institutional investors own 70.38% of the company's stock.

Safehold Stock Performance

Shares of SAFE stock opened at $15.67 on Wednesday. The company has a market cap of $1.12 billion, a price-to-earnings ratio of 10.95, a price-to-earnings-growth ratio of 1.40 and a beta of 1.85. Safehold Inc. has a 52 week low of $13.43 and a 52 week high of $23.90. The company has a quick ratio of 36.02, a current ratio of 36.02 and a debt-to-equity ratio of 1.85. The firm has a 50 day moving average of $15.80 and a 200-day moving average of $15.40.

Safehold (NYSE:SAFE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 3rd. The company reported $0.30 earnings per share (EPS) for the quarter. Safehold had a net margin of 27.45% and a return on equity of 4.70%. The business had revenue of $50.20 million during the quarter. On average, equities analysts forecast that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were given a $0.177 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.71 annualized dividend and a yield of 4.5%. Safehold's dividend payout ratio (DPR) is presently 48.95%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. JMP Securities decreased their target price on shares of Safehold from $32.00 to $28.00 and set a "market outperform" rating for the company in a research report on Tuesday, August 12th. Truist Financial decreased their target price on shares of Safehold from $18.00 to $16.00 and set a "hold" rating for the company in a research report on Thursday, September 11th. Weiss Ratings reissued a "hold (c-)" rating on shares of Safehold in a research report on Wednesday, October 8th. Mizuho increased their target price on shares of Safehold from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, September 11th. Finally, JPMorgan Chase & Co. reduced their price objective on shares of Safehold from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Three equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $19.89.

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.

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