Goldman Sachs Group Inc. Raises Stock Position in Safehold Inc. $SAFE

Key Points

• Goldman Sachs Group Inc. increased its stake in Safehold Inc. by 3.7%, owning 433,761 shares valued at approximately $8.12 million after purchasing an additional 15,280 shares in the first quarter.
• Safehold's shares opened at $16.49, with a 52-week range of $13.43 to $28.80, and the firm recently reported $0.39 EPS for the quarter, in line with analyst expectations.
• Equities analysts are cautious, with multiple firms lowering their price targets for Safehold, resulting in an average target of $21.78 and a consensus rating of "Hold" on the stock.

Goldman Sachs Group Inc. boosted its position in shares of Safehold Inc. (NYSE:SAFE - Free Report) by 3.7% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 433,761 shares of the company's stock after purchasing an additional 15,280 shares during the period. Goldman Sachs Group Inc. owned approximately 0.60% of Safehold worth $8,120,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of SAFE. US Bancorp DE raised its stake 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. Versant Capital Management Inc raised its stake in shares of Safehold by 73.9% in the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company's stock valued at $44,000 after acquiring an additional 1,010 shares during the period. First Citizens Bank & Trust Co. purchased a new stake in shares of Safehold in the 1st quarter valued at approximately $192,000. D. E. Shaw & Co. Inc. purchased a new stake in shares of Safehold in the 4th quarter valued at approximately $194,000. Finally, PNC Financial Services Group Inc. raised its stake 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 valued at $203,000 after acquiring an additional 2,408 shares during the period. 70.38% of the stock is owned by hedge funds and other institutional investors.

Safehold Price Performance

Shares of SAFE opened at $16.49 on Friday. Safehold Inc. has a fifty-two week low of $13.43 and a fifty-two week high of $28.80. The firm's 50 day moving average price is $15.31 and its 200 day moving average price is $15.93. The company has a market cap of $1.18 billion, a P/E ratio of 11.53, a PEG ratio of 1.51 and a beta of 1.85. The company has a quick ratio of 36.02, a current ratio of 36.02 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, hitting the consensus estimate of $0.39. Safehold had a net margin of 27.45% and a return on equity of 4.70%. The company had revenue of $93.84 million during the quarter, compared to analysts' expectations of $94.05 million. During the same quarter in the previous year, the business posted $0.41 EPS. The firm's revenue was up 4.3% on a year-over-year basis. On average, research analysts forecast that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on SAFE shares. 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 note on Thursday. JMP Securities reduced their price target on shares of Safehold from $32.00 to $28.00 and set a "market outperform" rating on the stock in a research note on Tuesday, August 12th. Royal Bank Of Canada reduced their price target on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. JPMorgan Chase & Co. cut their target price on shares of Safehold from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Finally, Mizuho upped their target price on shares of Safehold from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday. Four analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $21.78.

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.

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