Nuveen LLC Makes New Investment in Safehold Inc. $SAFE

Key Points

• Nuveen LLC has acquired 218,280 shares of Safehold Inc. (NYSE:SAFE) valued at approximately $4.1 million, representing an ownership of about 0.30% of the company.
• Wall Street analysts have recently lowered price targets for Safehold, with JMP Securities setting a target of $28.00, while the consensus target price is now $21.89.
• Safehold announced a quarterly dividend of $0.177 per share, resulting in an annualized dividend yield of 4.4% and a payout ratio of 49.65%.

Nuveen LLC purchased a new position in shares of Safehold Inc. (NYSE:SAFE - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 218,280 shares of the company's stock, valued at approximately $4,086,000. Nuveen LLC owned about 0.30% of Safehold as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of SAFE. First Trust Advisors LP boosted its position in Safehold by 410.3% during the 4th quarter. First Trust Advisors LP now owns 248,997 shares of the company's stock worth $4,601,000 after acquiring an additional 200,204 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in shares of Safehold during the 4th quarter worth approximately $1,781,000. Vanguard Group Inc. raised its stake in Safehold by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company's stock valued at $146,352,000 after acquiring an additional 93,236 shares during the period. Northern Trust Corp raised its stake in Safehold by 17.4% in the 4th quarter. Northern Trust Corp now owns 628,137 shares of the company's stock valued at $11,608,000 after acquiring an additional 93,173 shares during the period. Finally, Berkeley Capital Partners LLC raised its stake in Safehold by 95.2% in the 1st quarter. Berkeley Capital Partners LLC now owns 127,469 shares of the company's stock valued at $2,386,000 after acquiring an additional 62,172 shares during the period. Institutional investors and hedge funds own 70.38% of the company's stock.

Safehold Stock Up 2.6%

Shares of NYSE SAFE traded up $0.42 during midday trading on Monday, hitting $16.47. 398,379 shares of the stock traded hands, compared to its average volume of 447,557. The company has a market cap of $1.18 billion, a PE ratio of 11.52, a P/E/G ratio of 1.48 and a beta of 1.85. Safehold Inc. has a one year low of $13.43 and a one year high of $28.80. The business has a 50 day moving average price of $15.19 and a two-hundred day moving average price of $15.99. The company has a debt-to-equity ratio of 1.85, a quick ratio of 36.02 and a current ratio of 36.02.

Safehold (NYSE:SAFE - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39. Safehold had a return on equity of 4.70% and a net margin of 27.45%.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 company posted $0.41 earnings per share. Safehold's revenue was up 4.3% compared to the same quarter last year. On average, equities analysts predict that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Announces Dividend

The firm also recently disclosed 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 of this dividend was Monday, June 30th. This represents a $0.71 annualized dividend and a yield of 4.3%. Safehold's payout ratio is currently 49.65%.

Wall Street Analyst Weigh In

A number of research analysts have commented on SAFE shares. JPMorgan Chase & Co. decreased their price objective on Safehold from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. JMP Securities reduced their price objective 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. Royal Bank Of Canada reduced their price objective on Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Truist Financial lowered their price objective on Safehold from $20.00 to $18.00 and set a "hold" rating for the company in a research note on Monday, May 19th. Finally, Mizuho lowered their price objective on Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday, June 16th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and an average target price of $21.89.

Safehold 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.