First Citizens Bank & Trust Co. Increases Position in Safehold Inc. $SAFE

First Citizens Bank & Trust Co. grew its stake in Safehold Inc. (NYSE:SAFE - Free Report) by 200.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 30,796 shares of the company's stock after acquiring an additional 20,561 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Safehold were worth $479,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. US Bancorp DE increased its holdings in shares of 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. GAMMA Investing LLC grew its stake in Safehold by 117.2% during the 2nd quarter. GAMMA Investing LLC now owns 3,923 shares of the company's stock worth $61,000 after buying an additional 2,117 shares during the last quarter. PNC Financial Services Group Inc. grew its stake in Safehold by 28.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,863 shares of the company's stock worth $203,000 after buying an additional 2,408 shares during the last quarter. Signaturefd LLC grew its stake in Safehold by 21,147.2% during the 1st quarter. Signaturefd LLC now owns 11,261 shares of the company's stock worth $211,000 after buying an additional 11,208 shares during the last quarter. Finally, Vanguard Personalized Indexing Management LLC purchased a new position in Safehold during the 2nd quarter worth $188,000. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

SAFE has been the topic of several research analyst reports. Truist Financial dropped their target price on Safehold from $18.00 to $16.00 and set a "hold" rating on the stock in a research note on Thursday, September 11th. Mizuho boosted their target price on Safehold from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, September 11th. JMP Securities dropped their target price 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. Weiss Ratings restated a "hold (c-)" rating on shares of Safehold in a research note on Saturday. Finally, Cantor Fitzgerald set a $17.00 price target on Safehold and gave the stock a "neutral" rating in a research report on Wednesday, October 1st. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $19.89.

Safehold Stock Performance

Shares of SAFE opened at $15.73 on Friday. The stock has a 50-day moving average of $15.81 and a two-hundred day moving average of $15.40. Safehold Inc. has a one year low of $13.43 and a one year high of $23.90. 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 stock has a market cap of $1.13 billion, a P/E ratio of 11.00, a P/E/G ratio of 1.42 and a beta of 1.85.

Safehold (NYSE:SAFE - Get Free Report) last issued its earnings results on Tuesday, May 3rd. The company reported $0.30 EPS for the quarter. The firm had revenue of $50.20 million for the quarter. Safehold had a return on equity of 4.70% and a net margin of 27.45%. As a group, research analysts predict that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th were issued a dividend of $0.177 per share. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.5%. Safehold's dividend payout ratio is presently 49.65%.

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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