NewEdge Wealth LLC Invests $10.53 Million in Safehold Inc. $SAFE

NewEdge Wealth LLC bought a new stake in shares of Safehold Inc. (NYSE:SAFE - Free Report) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 670,665 shares of the company's stock, valued at approximately $10,529,000. NewEdge Wealth LLC owned about 0.95% of Safehold at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of SAFE. Royal Bank of Canada increased its holdings in shares of Safehold by 21.1% during the 1st quarter. Royal Bank of Canada now owns 44,462 shares of the company's stock worth $833,000 after purchasing an additional 7,743 shares during the period. Amundi lifted its stake in shares of Safehold by 2.6% in the first quarter. Amundi now owns 50,855 shares of the company's stock valued at $906,000 after buying an additional 1,306 shares during the period. AQR Capital Management LLC grew its position in Safehold by 1,106.2% during the first quarter. AQR Capital Management LLC now owns 195,530 shares of the company's stock worth $3,660,000 after buying an additional 179,319 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Safehold by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company's stock valued at $576,000 after acquiring an additional 1,308 shares during the period. Finally, Goldman Sachs Group Inc. increased its stake in Safehold by 3.7% during the first quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company's stock valued at $8,120,000 after acquiring an additional 15,280 shares during the period. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have commented on SAFE. The Goldman Sachs Group reduced their price objective on Safehold from $27.00 to $23.00 and set a "buy" rating for the company in a research report on Friday, May 15th. Cantor Fitzgerald restated a "neutral" rating on shares of Safehold in a research report on Tuesday, August 4th. Royal Bank Of Canada lowered Safehold from a "market outperform" rating to a "sector perform" rating and cut their target price for the company from $18.00 to $16.00 in a research note on Friday, May 1st. Weiss Ratings raised Safehold from a "hold (c-)" rating to a "hold (c)" rating in a research report on Friday, July 31st. Finally, Raymond James Financial assumed coverage on shares of Safehold in a research note on Wednesday. They set a "market perform" rating on the stock. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $17.17.

Safehold Stock Performance

NYSE:SAFE opened at $15.15 on Thursday. The firm has a market capitalization of $1.07 billion, a PE ratio of 9.35, a price-to-earnings-growth ratio of 4.41 and a beta of 1.75. The company has a quick ratio of 34.36, a current ratio of 34.37 and a debt-to-equity ratio of 1.77. Safehold Inc. has a 12-month low of $12.76 and a 12-month high of $17.45. The firm has a 50-day moving average price of $15.99 and a 200 day moving average price of $15.34.

Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.42 earnings per share for the quarter, meeting analysts' consensus estimates of $0.42. Safehold had a return on equity of 4.76% and a net margin of 27.70%.The company had revenue of $114.65 million for the quarter, compared to the consensus estimate of $110.78 million. Research analysts anticipate that Safehold Inc. will post 1.64 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Tuesday, June 30th. Safehold's dividend payout ratio (DPR) is 43.83%.

Safehold Company Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.

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