T. Rowe Price Investment Management Inc. Acquires 38,272 Shares of 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 position in shares of Safehold Inc. (NYSE:SAFE - Free Report) by 0.9% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 4,305,041 shares of the company's stock after buying 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 institutional investors have also added to or reduced their stakes in the company. Nuveen LLC purchased a new position in Safehold during the 1st quarter valued at about $4,086,000. First Trust Advisors LP increased its stake in shares of Safehold by 410.3% during the fourth quarter. First Trust Advisors LP now owns 248,997 shares of the company's stock valued at $4,601,000 after buying an additional 200,204 shares during the period. BNP Paribas Financial Markets bought a new position in shares of Safehold during the fourth quarter valued at approximately $1,781,000. Vanguard Group Inc. lifted its stake in Safehold by 1.2% in the first quarter. Vanguard Group Inc. now owns 7,817,950 shares of the company's stock worth $146,352,000 after acquiring an additional 93,236 shares during the period. Finally, Northern Trust Corp boosted its holdings in Safehold by 17.4% in the fourth quarter. Northern Trust Corp now owns 628,137 shares of the company's stock valued at $11,608,000 after acquiring an additional 93,173 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on SAFE shares. Royal Bank Of Canada reduced their target price on Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. JMP Securities reduced their price target on Safehold from $32.00 to $28.00 and set a "market outperform" rating on the stock in a research note on Tuesday, August 12th. Mizuho lowered their price objective on Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a research report on Monday, June 16th. The Goldman Sachs Group dropped their target price on shares of Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Finally, JPMorgan Chase & Co. decreased their price target on shares of Safehold from $20.00 to $19.00 and set a "neutral" rating for the company in a research note on Wednesday, July 9th. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $21.89.

Safehold Stock Performance

Shares of NYSE:SAFE traded down $0.19 during midday trading on Thursday, reaching $15.93. 33,013 shares of the company's stock traded hands, compared to its average volume of 431,759. The company has a debt-to-equity ratio of 1.85, a quick ratio of 36.02 and a current ratio of 36.02. Safehold Inc. has a one year low of $13.43 and a one year high of $28.80. The company has a market cap of $1.14 billion, a price-to-earnings ratio of 11.13, a P/E/G ratio of 1.43 and a beta of 1.83. The stock has a 50 day moving average of $15.15 and a 200 day moving average of $16.02.

Safehold (NYSE:SAFE - Get Free Report) last posted its earnings results 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 the consensus estimate of $94.05 million. Safehold had a return on equity of 4.70% and a net margin of 27.45%.Safehold's revenue was up 4.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.41 earnings per share. As a group, equities research analysts anticipate that Safehold Inc. will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th were paid a dividend of $0.177 per share. The ex-dividend date was Monday, June 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.4%. Safehold's dividend payout ratio (DPR) is presently 48.95%.

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.