Safehold Inc. $SAFE Shares Bought by Goldman Sachs Group Inc.

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. grew its holdings in Safehold Inc. (NYSE:SAFE - Free Report) by 3.7% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 433,761 shares of the company's stock after buying an additional 15,280 shares during the quarter. Goldman Sachs Group Inc. owned about 0.60% of Safehold worth $8,120,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Safehold by 3.5% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 29,470 shares of the company's stock worth $545,000 after acquiring an additional 987 shares in the last quarter. Versant Capital Management Inc boosted 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 worth $44,000 after acquiring an additional 1,010 shares in the last quarter. M&T Bank Corp boosted its stake in shares of Safehold by 4.4% during the 1st quarter. M&T Bank Corp now owns 28,742 shares of the company's stock worth $538,000 after acquiring an additional 1,222 shares in the last quarter. US Bancorp DE boosted its stake in shares of Safehold by 136.4% during the 1st quarter. US Bancorp DE now owns 2,215 shares of the company's stock worth $41,000 after acquiring an additional 1,278 shares in the last quarter. Finally, Amundi boosted its stake in shares of Safehold by 2.6% during the 1st quarter. Amundi now owns 50,855 shares of the company's stock worth $906,000 after acquiring an additional 1,306 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company's stock.

Safehold Trading Down 1.9%

SAFE traded down $0.33 during trading on Friday, hitting $16.38. The company's stock had a trading volume of 113,603 shares, compared to its average volume of 427,153. The firm's 50 day moving average price is $15.39 and its 200-day moving average price is $15.90. The company has a debt-to-equity ratio of 1.85, a current ratio of 36.02 and a quick ratio of 36.02. The stock has a market cap of $1.18 billion, a PE ratio of 11.45, a PEG ratio of 1.48 and a beta of 1.85. Safehold Inc. has a twelve month low of $13.43 and a twelve month high of $27.53.

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

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 15th. Shareholders of record on Tuesday, September 30th will be issued a $0.177 dividend. The ex-dividend date is Tuesday, September 30th. This represents a $0.71 annualized dividend and a yield of 4.3%. Safehold's payout ratio is 49.65%.

Analysts Set New Price Targets

Several brokerages have recently commented on SAFE. JPMorgan Chase & Co. decreased their price target on Safehold from $20.00 to $19.00 and set a "neutral" rating on the stock in a research note on Wednesday, July 9th. Mizuho upped their target price on Safehold from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, September 11th. JMP Securities reduced 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. Finally, Truist Financial reduced 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. Three investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price 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.