Safehold Inc. $SAFE Stock Position Cut by NewEdge Wealth LLC

Key Points

• NewEdge Wealth LLC cut its Safehold stake by 24.1% in the fourth quarter, selling 303,002 shares and leaving it with 953,198 shares valued at about $13.0 million.
• Analyst sentiment is mixed but mostly cautious: Safehold currently has a consensus Hold rating, with a $19.00 target price, though some firms recently lowered their views while others nudged targets higher.
• Safehold reported mixed quarterly results, missing EPS estimates at $0.40 versus $0.43 expected, but revenue came in above forecasts at $110.85 million; the company also pays a quarterly dividend yielding about 4.7%.

NewEdge Wealth LLC decreased its stake in shares of Safehold Inc. (NYSE:SAFE - Free Report) by 24.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 953,198 shares of the company's stock after selling 303,002 shares during the period. NewEdge Wealth LLC owned approximately 1.33% of Safehold worth $13,049,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SAFE. Addison Capital Co increased its stake in shares of Safehold by 30.2% during the fourth quarter. Addison Capital Co now owns 179,465 shares of the company's stock valued at $2,457,000 after acquiring an additional 41,600 shares during the period. JPMorgan Chase & Co. boosted its stake in Safehold by 24.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 1,411,158 shares of the company's stock valued at $21,859,000 after purchasing an additional 279,664 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in Safehold by 92.8% during the 3rd quarter. Thrivent Financial for Lutherans now owns 163,504 shares of the company's stock valued at $2,533,000 after purchasing an additional 78,686 shares in the last quarter. Gabelli Funds LLC acquired a new position in shares of Safehold during the 3rd quarter valued at $3,343,000. Finally, Algert Global LLC increased its position in shares of Safehold by 137.4% during the 3rd quarter. Algert Global LLC now owns 486,386 shares of the company's stock valued at $7,534,000 after purchasing an additional 281,478 shares during the period. 70.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SAFE has been the subject of several research analyst reports. Weiss Ratings restated a "hold (c-)" rating on shares of Safehold in a report on Tuesday, April 21st. Mizuho lifted their target price on Safehold from $15.00 to $16.00 and gave the stock a "neutral" rating in a report on Wednesday, March 11th. Royal Bank Of Canada cut shares of Safehold from a "market outperform" rating to a "sector perform" rating and dropped their price target for the stock from $18.00 to $16.00 in a research report on Friday, May 1st. Wall Street Zen downgraded shares of Safehold from a "hold" rating to a "sell" rating in a report on Saturday, May 2nd. Finally, Truist Financial lifted their price objective on shares of Safehold from $16.00 to $17.00 and gave the stock a "hold" rating in a research note on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $19.00.

Safehold Price Performance

SAFE stock opened at $15.15 on Friday. Safehold Inc. has a one year low of $12.76 and a one year high of $17.16. The firm has a 50-day moving average of $14.93 and a two-hundred day moving average of $14.53. The firm has a market capitalization of $1.09 billion, a PE ratio of 9.53, a P/E/G ratio of 1.62 and a beta of 1.86. The company has a current ratio of 35.58, a quick ratio of 34.97 and a debt-to-equity ratio of 1.91.

Safehold (NYSE:SAFE - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). Safehold had a return on equity of 4.78% and a net margin of 28.58%.The firm had revenue of $110.85 million during the quarter, compared to analysts' expectations of $96.51 million. On average, analysts forecast that Safehold Inc. will post 1.69 earnings per share for the current year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Shareholders of record on Tuesday, March 31st were given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 4.7%. The ex-dividend date was Tuesday, March 31st. Safehold's payout ratio is presently 44.65%.

About Safehold

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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