Public Sector Pension Investment Board Increases Stock Position in Safehold Inc. $SAFE

Key Points

• The Public Sector Pension Investment Board increased its holdings in Safehold Inc. by 27.3%, now owning 145,017 shares valued at approximately $2.7 million.
• Safehold's quarterly earnings met expectations with an EPS of $0.39, and revenue increased by 4.3% year-over-year to $93.84 million.
• The company's recent dividend payout was $0.177 per share, resulting in an annualized yield of 4.5%.

Public Sector Pension Investment Board boosted its stake in shares of Safehold Inc. (NYSE:SAFE - Free Report) by 27.3% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 145,017 shares of the company's stock after acquiring an additional 31,088 shares during the period. Public Sector Pension Investment Board owned about 0.20% of Safehold worth $2,715,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its position in Safehold by 1.2% during the first quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company's stock worth $146,352,000 after acquiring an additional 93,236 shares during the period. T. Rowe Price Investment Management Inc. raised its position in Safehold by 8.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 4,266,769 shares of the company's stock worth $78,850,000 after acquiring an additional 336,458 shares during the period. Invesco Ltd. raised its position in Safehold by 308.1% during the fourth quarter. Invesco Ltd. now owns 646,222 shares of the company's stock worth $11,942,000 after acquiring an additional 487,886 shares during the period. Northern Trust Corp raised its position in Safehold by 17.4% during the fourth quarter. Northern Trust Corp now owns 628,137 shares of the company's stock worth $11,608,000 after acquiring an additional 93,173 shares during the period. Finally, Peregrine Capital Management LLC raised its position in Safehold by 9.0% during the first quarter. Peregrine Capital Management LLC now owns 336,554 shares of the company's stock worth $6,300,000 after acquiring an additional 27,719 shares during the period. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Trading Down 1.3%

SAFE stock traded down $0.2050 during mid-day trading on Monday, hitting $16.0050. 247,433 shares of the company were exchanged, compared to its average volume of 515,720. The company has a quick ratio of 36.02, a current ratio of 36.02 and a debt-to-equity ratio of 1.85. The firm has a market capitalization of $1.15 billion, a P/E ratio of 11.19, a PEG ratio of 1.46 and a beta of 1.83. The business has a fifty day simple moving average of $15.13 and a 200-day simple moving average of $16.02. Safehold Inc. has a 12-month low of $13.43 and a 12-month high of $28.80.

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

Safehold Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have recently commented on SAFE. The Goldman Sachs Group reduced their target price on shares of Safehold from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. JPMorgan Chase & Co. reduced their target price on shares of Safehold from $20.00 to $19.00 and set a "neutral" rating for the company in a research report on Wednesday, July 9th. Morgan Stanley reduced their target price on shares of Safehold from $19.00 to $17.00 and set an "equal weight" rating for the company in a research report on Tuesday, April 29th. Mizuho reduced their target price on shares of Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Finally, Royal Bank Of Canada reduced their target price on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $21.89.

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.