T. Rowe Price Investment Management Inc. Increases Stake in Safehold Inc. $SAFE

Key Points

• T. Rowe Price Investment Management Inc. increased its stake in Safehold Inc. by 0.9% in the first quarter, now owning approximately 6.01% of the company, valued at around $80.6 million.
• Multiple large institutional investors have also increased their stakes in Safehold, with US Bancorp DE boosting its investment by 136.4% and Versant Capital Management Inc. increasing its stake by 73.9% during the same period.
• Safehold's recent earnings report indicated $0.39 earnings per share for the quarter, meeting analyst expectations, although revenues fell short by a slight margin.

T. Rowe Price Investment Management Inc. boosted its stake in Safehold Inc. (NYSE:SAFE - Free Report) by 0.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,305,041 shares of the company's stock after purchasing an additional 38,272 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 6.01% of Safehold worth $80,591,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in SAFE. US Bancorp DE boosted its stake in Safehold by 136.4% in the 1st quarter. US Bancorp DE now owns 2,215 shares of the company's stock worth $41,000 after purchasing an additional 1,278 shares during the period. Versant Capital Management Inc boosted its stake in Safehold by 73.9% in the 1st quarter. Versant Capital Management Inc now owns 2,377 shares of the company's stock worth $44,000 after purchasing an additional 1,010 shares during the period. Tower Research Capital LLC TRC boosted its stake in 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 purchasing an additional 849 shares during the period. First Citizens Bank & Trust Co. bought a new position in Safehold in the 1st quarter worth about $192,000. Finally, D. E. Shaw & Co. Inc. bought a new position in Safehold in the 4th quarter worth about $194,000. Institutional investors own 70.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SAFE shares. Morgan Stanley cut 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. Mizuho dropped their price target on Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. Truist Financial dropped their price target on Safehold from $20.00 to $18.00 and set a "hold" rating for the company in a research report on Monday, May 19th. The Goldman Sachs Group dropped their price target on Safehold from $28.00 to $25.00 and set a "buy" rating for the company in a research report on Wednesday, May 14th. Finally, JMP Securities dropped their price target on Safehold from $32.00 to $28.00 and set a "market outperform" rating for the company in a research report on Tuesday, August 12th. Four analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, Safehold has a consensus rating of "Hold" and a consensus target price of $21.89.

Safehold Stock Performance

Shares of SAFE opened at $16.1980 on Friday. The company has a market cap of $1.16 billion, a PE ratio of 11.33, a price-to-earnings-growth ratio of 1.39 and a beta of 1.83. The company has a current ratio of 36.02, a quick ratio of 36.02 and a debt-to-equity ratio of 1.85. The stock has a 50-day moving average price of $15.11 and a 200-day moving average price of $16.05. 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 announced its quarterly earnings data on Tuesday, August 5th. The company reported $0.39 earnings per share for the quarter, meeting analysts' consensus estimates of $0.39. The company had revenue of $93.84 million for the quarter, compared to analysts' expectations of $94.05 million. Safehold had a return on equity of 4.70% and a net margin of 27.45%.Safehold's revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period last year, the firm posted $0.41 EPS. As a group, equities analysts forecast 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. Investors of record on Monday, June 30th were issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 30th. Safehold's dividend payout ratio (DPR) is currently 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.

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