Safehold Inc. $SAFE Holdings Reduced by Invesco Ltd.

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. trimmed its holdings in shares of Safehold Inc. (NYSE:SAFE - Free Report) by 8.3% in the first quarter, according to the company in its most recent 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 period. Invesco Ltd. owned 0.83% of Safehold worth $11,093,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. US Bancorp DE boosted its position in 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 purchasing an additional 1,278 shares during the period. Versant Capital Management Inc lifted its holdings in Safehold by 73.9% in the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company's stock worth $44,000 after buying an additional 1,010 shares in the last quarter. Tower Research Capital LLC TRC lifted its holdings in Safehold by 23.3% in the 4th quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company's stock worth $83,000 after buying an additional 849 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in Safehold in the 1st quarter worth $192,000. Finally, D. E. Shaw & Co. Inc. acquired a new position in Safehold in the 4th quarter worth $194,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

Safehold Stock Performance

Shares of NYSE:SAFE traded up $0.23 during trading on Wednesday, reaching $16.11. 169,959 shares of the company's stock traded hands, compared to its average volume of 434,226. 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 12 month low of $13.43 and a 12 month high of $28.80. The company has a 50 day moving average of $15.14 and a 200-day moving average of $16.02. The stock has a market capitalization of $1.16 billion, a P/E ratio of 11.27, a price-to-earnings-growth ratio of 1.44 and a beta of 1.83.

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

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were given a $0.177 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.71 annualized dividend and a yield of 4.4%. Safehold's dividend payout ratio is 49.65%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on SAFE shares. JMP Securities cut their price objective on shares of Safehold from $32.00 to $28.00 and set a "market outperform" rating on the stock in a report on Tuesday, August 12th. Morgan Stanley cut their price objective on shares of Safehold from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 29th. The Goldman Sachs Group cut their price objective on shares of Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. JPMorgan Chase & Co. cut their price objective on shares of Safehold from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Finally, Truist Financial cut their target price on shares of Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a research note on Monday, May 19th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Safehold currently has an average rating of "Hold" and a consensus price target of $21.89.

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.