Vanguard Group Inc. Purchases 93,236 Shares of Safehold Inc. $SAFE

Key Points

• Vanguard Group Inc. increased its ownership of Safehold Inc. by 1.2%, holding a total of 7.8 million shares valued at approximately $146.4 million.
• Safehold reported a quarterly EPS of $0.39, in line with estimates, while its revenue grew 4.3% year-over-year, totaling $93.84 million.
• The company declared a quarterly dividend of $0.177 per share, providing an annualized yield of 4.5% and a payout ratio of 49.65%.

Vanguard Group Inc. increased its stake in Safehold Inc. (NYSE:SAFE - Free Report) by 1.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 7,817,950 shares of the company's stock after buying an additional 93,236 shares during the quarter. Vanguard Group Inc. owned approximately 10.92% of Safehold worth $146,352,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in the stock. T. Rowe Price Investment Management Inc. lifted its holdings in Safehold by 8.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,266,769 shares of the company's stock valued at $78,850,000 after purchasing an additional 336,458 shares during the last quarter. First Trust Advisors LP lifted its holdings in Safehold by 410.3% during the 4th quarter. First Trust Advisors LP now owns 248,997 shares of the company's stock valued at $4,601,000 after purchasing an additional 200,204 shares during the last quarter. Renaissance Technologies LLC acquired a new stake in Safehold during the 4th quarter valued at $3,414,000. BNP Paribas Financial Markets acquired a new stake in Safehold during the 4th quarter valued at $1,781,000. Finally, Northern Trust Corp lifted its holdings in Safehold by 17.4% during the 4th quarter. Northern Trust Corp now owns 628,137 shares of the company's stock valued at $11,608,000 after purchasing an additional 93,173 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company's stock.

Wall Street Analysts Forecast Growth

SAFE has been the subject of a number of research reports. JPMorgan Chase & Co. dropped their target price on Safehold from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. JMP Securities dropped their target price on Safehold from $32.00 to $28.00 and set a "market outperform" rating for the company in a report on Tuesday, August 12th. The Goldman Sachs Group dropped their target price on Safehold from $28.00 to $25.00 and set a "buy" rating for the company in a report on Wednesday, May 14th. Morgan Stanley dropped their target price on Safehold from $19.00 to $17.00 and set an "equal weight" rating for the company in a report on Tuesday, April 29th. Finally, Mizuho dropped their target price on Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a report on Monday, June 16th. Four research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $21.89.

Safehold Trading Down 0.8%

Shares of NYSE:SAFE traded down $0.12 during midday trading on Tuesday, hitting $15.89. 292,156 shares of the stock were exchanged, compared to its average volume of 507,116. The stock has a market capitalization of $1.14 billion, a price-to-earnings ratio of 11.11, a P/E/G ratio of 1.44 and a beta of 1.83. The company has a debt-to-equity ratio of 1.85, a quick ratio of 36.02 and a current ratio of 36.02. The business's 50-day moving average price is $15.14 and its 200 day moving average price is $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 posted its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, hitting analysts' consensus estimates of $0.39. Safehold had a return on equity of 4.70% and a net margin of 27.45%.The company had revenue of $93.84 million for the quarter, compared to analyst estimates of $94.05 million. During the same period in the previous year, the firm earned $0.41 earnings per share. The firm's quarterly revenue was up 4.3% on a year-over-year basis. Analysts predict that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were given a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, June 30th. Safehold's dividend payout ratio is presently 49.65%.

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.