Invesco Ltd. Sells 53,666 Shares of Safehold Inc. $SAFE

Key Points

• Invesco Ltd. has reduced its holdings in Safehold Inc. (NYSE:SAFE) by 8.3%, now owning 592,556 shares worth approximately $11.1 million.
• Several institutional investors are adjusting their positions in Safehold, including Tower Research Capital, which increased its stake by 23.3% in the fourth quarter.
• Wall Street analysts have lowered their target prices for Safehold, with Goldman Sachs reducing its target from $28.00 to $25.00, while the stock currently holds an average target price of $21.89 according to MarketBeat.com.

Invesco Ltd. lowered its position in shares of Safehold Inc. (NYSE:SAFE - Free Report) by 8.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 592,556 shares of the company's stock after selling 53,666 shares during the quarter. Invesco Ltd. owned about 0.83% of Safehold worth $11,093,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. US Bancorp DE lifted its position in Safehold by 136.4% during the first quarter. US Bancorp DE now owns 2,215 shares of the company's stock valued at $41,000 after buying an additional 1,278 shares during the period. Versant Capital Management Inc lifted its position in Safehold by 73.9% during the first 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. Tower Research Capital LLC TRC lifted its position in Safehold by 23.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company's stock valued at $83,000 after buying an additional 849 shares during the period. First Citizens Bank & Trust Co. purchased a new position in Safehold during the first quarter valued at $192,000. Finally, D. E. Shaw & Co. Inc. purchased a new position in Safehold during the fourth quarter valued at $194,000. Hedge funds and other institutional investors own 70.38% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on SAFE. JPMorgan Chase & Co. decreased their target price on Safehold from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. The Goldman Sachs Group decreased their target price on Safehold from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Truist Financial decreased their target price on Safehold from $20.00 to $18.00 and set a "hold" rating for the company in a research report on Monday, May 19th. Royal Bank Of Canada decreased their target price on Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Finally, Mizuho decreased their target price on Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Four investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $21.89.

Safehold Stock Performance

Shares of NYSE:SAFE traded up $0.42 during mid-day trading on Friday, reaching $16.47. 398,379 shares of the company traded hands, compared to its average volume of 468,866. The company's 50 day moving average price is $15.19 and its 200-day moving average price is $16.01. The firm has a market cap of $1.18 billion, a PE ratio of 11.52, a PEG ratio of 1.44 and a beta of 1.83. The company has a debt-to-equity ratio of 1.85, a current ratio of 36.02 and a quick ratio of 36.02. Safehold Inc. has a 52 week low of $13.43 and a 52 week high of $28.80.

Safehold (NYSE:SAFE - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates 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%.The firm's revenue was up 4.3% on a year-over-year basis. During the same period in the previous year, the company posted $0.41 EPS. On average, equities analysts expect that Safehold Inc. will post 1.58 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were paid a dividend of $0.177 per share. The ex-dividend date was Monday, June 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.3%. Safehold's payout ratio is 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.