Public Sector Pension Investment Board Increases Holdings 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 raised its position in Safehold Inc. (NYSE:SAFE - Free Report) by 27.3% during the first quarter, according to its most recent filing with the SEC. The firm owned 145,017 shares of the company's stock after purchasing an additional 31,088 shares during the period. Public Sector Pension Investment Board owned 0.20% of Safehold worth $2,715,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the company. US Bancorp DE raised its stake in Safehold by 136.4% during the first quarter. US Bancorp DE now owns 2,215 shares of the company's stock worth $41,000 after buying an additional 1,278 shares during the last quarter. Versant Capital Management Inc grew its holdings in Safehold by 73.9% during the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company's stock worth $44,000 after acquiring an additional 1,010 shares during the period. Tower Research Capital LLC TRC raised its position in shares of 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 acquiring an additional 849 shares in the last quarter. First Citizens Bank & Trust Co. acquired a new position in shares of Safehold in the 1st quarter valued at about $192,000. Finally, D. E. Shaw & Co. Inc. bought a new stake in shares of Safehold during the 4th quarter valued at about $194,000. 70.38% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

SAFE has been the subject of several recent analyst reports. The Goldman Sachs Group reduced their price objective 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. Royal Bank Of Canada decreased their price target on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a research note on Monday, May 19th. Truist Financial dropped their price objective on shares of Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, May 19th. Morgan Stanley reduced their target price on Safehold from $19.00 to $17.00 and set an "equal weight" rating for the company in a research note on Tuesday, April 29th. Finally, Mizuho decreased their target price on Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $21.89.

Safehold Stock Up 4.8%

Shares of SAFE stock traded up $0.7480 during trading hours on Friday, reaching $16.1980. The company had a trading volume of 450,320 shares, compared to its average volume of 513,375. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 11.33, a price-to-earnings-growth ratio of 1.39 and a beta of 1.83. 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 business has a fifty day simple moving average of $15.11 and a 200-day simple moving average of $16.05.

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

Safehold Dividend Announcement

The company 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. This represents a $0.71 dividend on an annualized basis and a yield of 4.4%. The ex-dividend date of this dividend was Monday, June 30th. Safehold's dividend payout ratio is presently 49.65%.

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.