Northern Trust Corp Increases Stock Holdings in Safehold Inc. (NYSE:SAFE)

Northern Trust Corp boosted its position in Safehold Inc. (NYSE:SAFE - Free Report) by 17.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 628,137 shares of the company's stock after buying an additional 93,173 shares during the quarter. Northern Trust Corp owned approximately 0.88% of Safehold worth $11,608,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of the stock. Smartleaf Asset Management LLC boosted its stake in Safehold by 268.4% in the 4th quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company's stock valued at $26,000 after purchasing an additional 1,020 shares during the period. Tower Research Capital LLC TRC raised its holdings in shares of Safehold by 23.3% during the 4th quarter. Tower Research Capital LLC TRC now owns 4,500 shares of the company's stock worth $83,000 after buying an additional 849 shares in the last quarter. PNC Financial Services Group Inc. increased its holdings in Safehold by 16.1% in the 4th quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company's stock worth $156,000 after purchasing an additional 1,173 shares in the last quarter. KLP Kapitalforvaltning AS acquired a new position in Safehold in the 4th quarter worth about $169,000. Finally, Sage Investment Counsel LLC acquired a new position in Safehold in the 4th quarter worth about $186,000. 70.38% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on SAFE. JMP Securities reaffirmed a "market outperform" rating and issued a $35.00 target price on shares of Safehold in a report on Thursday, February 6th. The Goldman Sachs Group reduced their price target on Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Royal Bank of Canada reduced their price target on Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a research report on Monday. Truist Financial reduced their price target on Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a research report on Monday. Finally, Morgan Stanley cut their target price on Safehold from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Four analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.50.

Safehold Stock Performance

Shares of SAFE traded down $0.22 on Thursday, reaching $14.53. 429,866 shares of the company's stock traded hands, compared to its average volume of 403,100. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82. The stock has a market cap of $1.04 billion, a PE ratio of 9.82 and a beta of 1.86. The stock's 50 day simple moving average is $16.18 and its two-hundred day simple moving average is $17.81. Safehold Inc. has a 52-week low of $13.68 and a 52-week high of $28.80.

Safehold (NYSE:SAFE - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. Safehold had a return on equity of 4.76% and a net margin of 28.92%. The company had revenue of $97.68 million during the quarter, compared to analysts' expectations of $95.55 million. During the same period in the previous year, the business earned $0.43 earnings per share. The firm's quarterly revenue was up 4.8% compared to the same quarter last year. On average, analysts forecast that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were issued a dividend of $0.177 per share. The ex-dividend date was Monday, March 31st. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.87%. Safehold's dividend payout ratio is presently 47.95%.

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.