Safehold Inc. (NYSE:SAFE) major shareholder Istar Inc. purchased 2,350 shares of the firm's stock in a transaction on Wednesday, June 16th. The shares were acquired at an average price of $78.85 per share, with a total value of $185,297.50. Following the purchase, the insider now directly owns 35,202,642 shares in the company, valued at approximately $2,775,728,321.70. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Large shareholders that own at least 10% of a company's shares are required to disclose their transactions with the SEC.
Istar Inc. also recently made the following trade(s):
- On Monday, June 14th, Istar Inc. bought 12,793 shares of Safehold stock. The stock was purchased at an average price of $78.16 per share, with a total value of $999,900.88.
- On Friday, June 11th, Istar Inc. bought 13,066 shares of Safehold stock. The stock was purchased at an average price of $76.53 per share, with a total value of $999,940.98.
- On Wednesday, June 9th, Istar Inc. bought 13,519 shares of Safehold stock. The stock was purchased at an average price of $73.97 per share, with a total value of $1,000,000.43.
- On Monday, June 7th, Istar Inc. bought 13,698 shares of Safehold stock. The stock was purchased at an average price of $73.00 per share, with a total value of $999,954.00.
- On Thursday, June 3rd, Istar Inc. bought 14,087 shares of Safehold stock. The stock was purchased at an average price of $70.98 per share, with a total value of $999,895.26.
- On Tuesday, June 1st, Istar Inc. bought 14,071 shares of Safehold stock. The stock was purchased at an average price of $71.06 per share, with a total value of $999,885.26.
- On Friday, May 28th, Istar Inc. purchased 14,253 shares of Safehold stock. The stock was bought at an average cost of $70.16 per share, for a total transaction of $999,990.48.
- On Wednesday, May 26th, Istar Inc. purchased 13,997 shares of Safehold stock. The stock was bought at an average cost of $71.44 per share, for a total transaction of $999,945.68.
- On Monday, May 24th, Istar Inc. purchased 14,082 shares of Safehold stock. The stock was bought at an average cost of $71.01 per share, for a total transaction of $999,962.82.
Shares of Safehold stock traded down $3.65 on Monday, reaching $76.43. The stock had a trading volume of 241,480 shares, compared to its average volume of 116,924. Safehold Inc. has a 1 year low of $47.51 and a 1 year high of $84.99. The stock has a market capitalization of $4.07 billion, a P/E ratio of 67.64 and a beta of -0.48. The stock's 50 day moving average price is $71.02.
Safehold (NYSE:SAFE) last announced its quarterly earnings results on Thursday, April 22nd. The company reported $0.32 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.32. Safehold had a net margin of 37.11% and a return on equity of 4.47%. The firm had revenue of $43.50 million for the quarter, compared to the consensus estimate of $43.10 million. Equities analysts anticipate that Safehold Inc. will post 1.39 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Thursday, July 15th. Stockholders of record on Wednesday, June 30th will be issued a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.89%. This is an increase from Safehold's previous quarterly dividend of $0.16. The ex-dividend date of this dividend is Tuesday, June 29th. Safehold's dividend payout ratio is presently 55.56%.
Hedge funds have recently bought and sold shares of the stock. Harvest Fund Management Co. Ltd increased its position in shares of Safehold by 69.2% in the first quarter. Harvest Fund Management Co. Ltd now owns 467 shares of the company's stock worth $32,000 after purchasing an additional 191 shares during the last quarter. Lazard Asset Management LLC bought a new position in shares of Safehold in the fourth quarter worth approximately $33,000. Schroder Investment Management Group purchased a new stake in shares of Safehold during the first quarter valued at approximately $41,000. Van ECK Associates Corp boosted its stake in shares of Safehold by 38.8% during the fourth quarter. Van ECK Associates Corp now owns 723 shares of the company's stock valued at $52,000 after purchasing an additional 202 shares during the period. Finally, Point72 Hong Kong Ltd purchased a new stake in shares of Safehold during the first quarter valued at approximately $63,000. Institutional investors own 28.23% of the company's stock.
A number of brokerages recently weighed in on SAFE. The Goldman Sachs Group cut their price target on shares of Safehold from $112.00 to $95.00 and set a "buy" rating on the stock in a report on Wednesday, March 31st. Zacks Investment Research downgraded shares of Safehold from a "buy" rating to a "hold" rating in a report on Thursday, May 6th. One equities research analyst has rated the stock with a hold rating and three have given a buy rating to the company. The company has an average rating of "Buy" and a consensus target price of $84.50.
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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.
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