State of Wyoming Reduces Stock Holdings in Safehold Inc. $SAFE

Key Points

• The State of Wyoming reduced its stake in Safehold Inc. by 83.8%, selling 15,577 shares, resulting in a remaining ownership of 3,018 shares valued at $56,000.
• Analysts have recently adjusted their price targets for Safehold, with Goldman Sachs lowering it from $28.00 to $25.00 while maintaining a "buy" rating.
• Safehold declared a quarterly dividend of $0.177 per share, representing an annualized dividend yield of 4.3%.

State of Wyoming trimmed its position in Safehold Inc. (NYSE:SAFE - Free Report) by 83.8% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,018 shares of the company's stock after selling 15,577 shares during the period. State of Wyoming's holdings in Safehold were worth $56,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. HGI Capital Management LLC acquired a new stake in shares of Safehold in the 1st quarter valued at approximately $3,683,000. AlphaQuest LLC raised its position in shares of Safehold by 4.2% in the 1st quarter. AlphaQuest LLC now owns 46,928 shares of the company's stock valued at $878,000 after acquiring an additional 1,902 shares during the period. 1832 Asset Management L.P. acquired a new stake in shares of Safehold in the 1st quarter valued at approximately $6,552,000. T. Rowe Price Investment Management Inc. grew its position in shares of Safehold by 0.9% in the 1st quarter. T. Rowe Price Investment Management Inc. now owns 4,305,041 shares of the company's stock valued at $80,591,000 after purchasing an additional 38,272 shares during the period. Finally, EntryPoint Capital LLC grew its position in shares of Safehold by 134.5% in the 1st quarter. EntryPoint Capital LLC now owns 35,739 shares of the company's stock valued at $669,000 after purchasing an additional 20,499 shares during the period. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Stock Performance

SAFE traded down $0.25 on Friday, hitting $16.49. The company's stock had a trading volume of 420,827 shares, compared to its average volume of 342,709. The company's 50 day simple moving average is $15.31 and its 200-day simple moving average is $15.95. The company has a quick ratio of 36.02, a current ratio of 36.02 and a debt-to-equity ratio of 1.85. Safehold Inc. has a 12 month low of $13.43 and a 12 month high of $28.80. The firm has a market cap of $1.18 billion, a P/E ratio of 11.53, a price-to-earnings-growth ratio of 1.51 and a beta of 1.85.

Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, meeting analysts' consensus estimates 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 period last year, the business earned $0.41 earnings per share. Analysts forecast that Safehold Inc. will post 1.58 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Mizuho boosted their price objective on Safehold from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday. Truist Financial reduced their price target on Safehold from $18.00 to $16.00 and set a "hold" rating for the company in a research report on Thursday. Royal Bank Of Canada reduced their price target on Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. JPMorgan Chase & Co. cut their price objective on Safehold from $20.00 to $19.00 and set a "neutral" rating for the company in a report on Wednesday, July 9th. Finally, JMP Securities cut their price objective on Safehold from $32.00 to $28.00 and set a "market outperform" rating for the company in a report on Tuesday, August 12th. Four equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Safehold currently has a consensus rating of "Hold" and a consensus target price of $21.78.

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.