Safehold Inc. $SAFE Shares Bought by Bank of America Corp DE

Bank of America Corp DE grew its position in Safehold Inc. (NYSE:SAFE - Free Report) by 110.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 337,284 shares of the company's stock after purchasing an additional 177,001 shares during the quarter. Bank of America Corp DE owned about 0.47% of Safehold worth $4,563,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Franklin Resources Inc. boosted its holdings in Safehold by 5.6% in the second quarter. Franklin Resources Inc. now owns 16,462 shares of the company's stock worth $256,000 after acquiring an additional 878 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its holdings in shares of Safehold by 25.8% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,429 shares of the company's stock valued at $61,000 after acquiring an additional 908 shares in the last quarter. State of Tennessee Department of Treasury increased its holdings in shares of Safehold by 6.0% during the second quarter. State of Tennessee Department of Treasury now owns 18,567 shares of the company's stock valued at $289,000 after acquiring an additional 1,048 shares in the last quarter. Amundi raised its position in shares of Safehold by 2.6% in the 1st quarter. Amundi now owns 50,855 shares of the company's stock valued at $906,000 after purchasing an additional 1,306 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Safehold by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company's stock valued at $576,000 after purchasing an additional 1,308 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Safehold Stock Performance

Shares of NYSE SAFE opened at $15.36 on Friday. The company has a market capitalization of $1.09 billion, a PE ratio of 9.48, a price-to-earnings-growth ratio of 4.58 and a beta of 1.75. The company has a debt-to-equity ratio of 1.77, a quick ratio of 34.36 and a current ratio of 34.37. The company's fifty day moving average price is $15.97 and its 200 day moving average price is $15.38. Safehold Inc. has a 1 year low of $12.76 and a 1 year high of $17.45.

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 net margin of 27.70% and a return on equity of 4.76%. The company had revenue of $114.65 million during the quarter, compared to analysts' expectations of $110.78 million. On average, research analysts predict that Safehold Inc. will post 1.64 earnings per share for the current year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a $0.177 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.6%. Safehold's dividend payout ratio is presently 43.83%.

Analyst Upgrades and Downgrades

SAFE has been the subject of a number of research analyst reports. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of Safehold in a report on Tuesday, August 4th. Raymond James Financial began coverage on shares of Safehold in a report on Wednesday, August 19th. They set a "market perform" rating on the stock. The Goldman Sachs Group reduced their target price on Safehold from $27.00 to $23.00 and set a "buy" rating for the company in a research note on Friday, May 15th. Royal Bank Of Canada cut Safehold from a "market outperform" rating to a "sector perform" rating and lowered their price target for the stock from $18.00 to $16.00 in a research report on Friday, May 1st. Finally, Wall Street Zen upgraded Safehold from a "sell" rating to a "hold" rating in a research note on Saturday, July 4th. Two analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, Safehold has a consensus rating of "Hold" and an average target price of $17.17.

Safehold 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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