Safehold Inc. $SAFE Shares Purchased by Exchange Traded Concepts LLC

Key Points

• Exchange Traded Concepts LLC increased its stake in Safehold Inc. by 21.7% during Q2, owning 98,845 shares valued at $1.54 million.
• Safehold's stock has seen a 2.5% decline recently, opening at $16.28 with a market cap of $1.17 billion and a 52-week range of $13.43 to $27.53.
• The company announced a quarterly dividend of $0.177 per share, yielding 4.3%, set to be paid on October 15th to investors of record on September 30th.

Exchange Traded Concepts LLC increased its stake in Safehold Inc. (NYSE:SAFE - Free Report) by 21.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 98,845 shares of the company's stock after acquiring an additional 17,603 shares during the period. Exchange Traded Concepts LLC owned approximately 0.14% of Safehold worth $1,538,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of SAFE. US Bancorp DE increased its position in Safehold by 136.4% in the 1st quarter. US Bancorp DE now owns 2,215 shares of the company's stock valued at $41,000 after acquiring an additional 1,278 shares during the period. Versant Capital Management Inc grew its stake 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 buying an additional 1,010 shares during the period. First Citizens Bank & Trust Co. purchased a new position in Safehold in the first quarter valued at about $192,000. D. E. Shaw & Co. Inc. purchased a new position in shares of Safehold during the 4th quarter valued at approximately $194,000. Finally, PNC Financial Services Group Inc. increased its position in shares of Safehold by 28.5% in the 1st quarter. PNC Financial Services Group Inc. now owns 10,863 shares of the company's stock worth $203,000 after purchasing an additional 2,408 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Safehold Trading Down 1.3%

SAFE traded down $0.21 on Monday, hitting $16.09. 299,435 shares of the company were exchanged, compared to its average volume of 356,639. The stock has a market capitalization of $1.15 billion, a PE ratio of 11.25, a price-to-earnings-growth ratio of 1.47 and a beta of 1.85. Safehold Inc. has a 12 month low of $13.43 and a 12 month high of $27.48. The company has a debt-to-equity ratio of 1.85, a quick ratio of 36.02 and a current ratio of 36.02. The firm has a fifty day simple moving average of $15.42 and a two-hundred day simple moving average of $15.83.

Safehold (NYSE:SAFE - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share for the quarter, meeting analysts' consensus estimates of $0.39. The business had revenue of $93.84 million during the quarter, compared to the consensus estimate of $94.05 million. Safehold had a net margin of 27.45% and a return on equity of 4.70%. The business's revenue for the quarter was up 4.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.41 earnings per share. Sell-side analysts expect that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th will be paid a $0.177 dividend. The ex-dividend date of this dividend is Tuesday, September 30th. This represents a $0.71 annualized dividend and a yield of 4.4%. Safehold's dividend payout ratio is 49.65%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on SAFE shares. Mizuho increased their target price on Safehold from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, September 11th. JMP Securities reduced their price objective on Safehold from $32.00 to $28.00 and set a "market outperform" rating on the stock in a research note on Tuesday, August 12th. Truist Financial reduced their price target on shares of Safehold from $18.00 to $16.00 and set a "hold" rating on the stock in a research report on Thursday, September 11th. Finally, JPMorgan Chase & Co. cut their price target 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. Three equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, Safehold currently has an average rating of "Hold" and an average price target of $20.25.

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.