Farmers & Merchants Investments Inc. trimmed its stake in Safehold Inc. (NYSE:SAFE - Free Report) by 34.6% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 65,616 shares of the company's stock after selling 34,719 shares during the quarter. Farmers & Merchants Investments Inc. owned approximately 0.09% of Safehold worth $1,228,000 at the end of the most recent quarter.
Other institutional investors also recently made changes to their positions in the company. Smartleaf Asset Management LLC raised its holdings in shares of Safehold by 268.4% in the fourth quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company's stock worth $26,000 after acquiring an additional 1,020 shares during the last quarter. Versant Capital Management Inc raised its holdings in shares of Safehold by 73.9% in the first quarter. Versant Capital Management Inc now owns 2,377 shares of the company's stock worth $44,000 after acquiring an additional 1,010 shares during the last quarter. Tower Research Capital LLC TRC raised its holdings in shares of Safehold by 23.3% in the fourth quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company's stock worth $83,000 after acquiring an additional 849 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Safehold by 16.1% in the fourth quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company's stock worth $156,000 after acquiring an additional 1,173 shares during the last quarter. Finally, KLP Kapitalforvaltning AS acquired a new position in shares of Safehold in the fourth quarter worth $169,000. 70.38% of the stock is owned by institutional investors and hedge funds.
Safehold Trading Down 2.9%
SAFE stock traded down $0.46 during trading on Friday, reaching $15.24. 232,175 shares of the stock traded hands, compared to its average volume of 401,850. The business's 50 day moving average price is $15.29 and its 200-day moving average price is $17.19. Safehold Inc. has a 52-week low of $13.68 and a 52-week high of $28.80. The company has a debt-to-equity ratio of 1.82, a current ratio of 36.59 and a quick ratio of 36.59. The firm has a market capitalization of $1.09 billion, a PE ratio of 10.30 and a beta of 1.80.
Safehold (NYSE:SAFE - Get Free Report) last posted its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. Safehold had a return on equity of 4.76% and a net margin of 28.92%. The firm had revenue of $97.68 million during the quarter, compared to the consensus estimate of $95.55 million. During the same quarter in the previous year, the business earned $0.43 earnings per share. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Safehold Inc. will post 1.58 earnings per share for the current year.
Safehold Announces Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 4.65%. Safehold's dividend payout ratio (DPR) is presently 47.95%.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently weighed in on SAFE shares. The Goldman Sachs Group cut their price target on Safehold from $28.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Wedbush reiterated a "neutral" rating and issued a $20.00 target price on shares of Safehold in a research note on Monday, March 31st. Morgan Stanley dropped their target price on Safehold from $19.00 to $17.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 29th. Royal Bank of Canada dropped their target price on Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Finally, Mizuho dropped their target price on Safehold from $25.00 to $19.00 and set a "neutral" rating for the company in a research note on Thursday, April 3rd. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.
View Our Latest Stock Report on Safehold
Safehold Profile
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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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