Strs Ohio Invests $555,000 in Safehold Inc. $SAFE

Key Points

• Strs Ohio has invested approximately $555,000 in Safehold Inc. by purchasing 29,664 shares during the first quarter.
• Safehold's stock price opened at $16.28, with a 52-week range between $13.43 and $27.53, and an average analyst price target of $20.25.
• The company announced a quarterly dividend of $0.177 per share, representing a dividend yield of 4.3% and a payout ratio of 49.65%.

Strs Ohio acquired a new stake in shares of Safehold Inc. (NYSE:SAFE - Free Report) in the first quarter, according to the company in its most recent filing with the SEC. The firm acquired 29,664 shares of the company's stock, valued at approximately $555,000.

Other large investors have also modified their holdings of the company. US Bancorp DE raised its stake in shares of Safehold by 136.4% during the 1st quarter. US Bancorp DE now owns 2,215 shares of the company's stock worth $41,000 after acquiring an additional 1,278 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Safehold by 73.9% in the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company's stock valued at $44,000 after acquiring an additional 1,010 shares during the last quarter. First Citizens Bank & Trust Co. purchased a new stake in Safehold during the first quarter worth $192,000. D. E. Shaw & Co. Inc. purchased a new stake in Safehold during the fourth quarter worth $194,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Safehold by 28.5% during the first quarter. PNC Financial Services Group Inc. now owns 10,863 shares of the company's stock valued at $203,000 after purchasing an additional 2,408 shares in the last quarter. Institutional investors own 70.38% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have issued reports on the stock. Truist Financial decreased their price objective on shares of Safehold from $18.00 to $16.00 and set a "hold" rating on the stock in a report on Thursday, September 11th. JMP Securities decreased their price objective on shares of Safehold from $32.00 to $28.00 and set a "market outperform" rating on the stock in a report on Tuesday, August 12th. Mizuho increased their target price on shares of Safehold from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, September 11th. Finally, 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. Three research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $20.25.

Safehold Trading Up 0.0%

Shares of SAFE traded up $0.00 during mid-day trading on Tuesday, hitting $16.08. The company had a trading volume of 86,282 shares, compared to its average volume of 428,605. Safehold Inc. has a 1-year low of $13.43 and a 1-year high of $27.45. The business's 50-day simple moving average is $15.42 and its 200-day simple moving average is $15.83. 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 stock has a market cap of $1.15 billion, a PE ratio of 11.25, a P/E/G ratio of 1.47 and a beta of 1.85.

Safehold (NYSE:SAFE - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $0.39 EPS for the quarter, meeting the consensus estimate 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 analyst estimates of $94.05 million. During the same quarter last year, the firm posted $0.41 earnings per share. Safehold's revenue for the quarter was up 4.3% compared to the same quarter last year. Sell-side analysts forecast that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Tuesday, September 30th will be paid a dividend of $0.177 per share. The ex-dividend date is Tuesday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.4%. Safehold's dividend payout ratio (DPR) is currently 49.65%.

Safehold Company 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.