Resona Asset Management Co. Ltd. Takes $345,000 Position in Safehold Inc. (NYSE:SAFE)

Resona Asset Management Co. Ltd. bought a new position in shares of Safehold Inc. (NYSE:SAFE - Free Report) during the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 18,522 shares of the company's stock, valued at approximately $345,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. raised its holdings in Safehold by 16.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company's stock worth $17,369,000 after purchasing an additional 91,965 shares during the period. Barclays PLC boosted its holdings in shares of Safehold by 317.9% during the 3rd quarter. Barclays PLC now owns 85,932 shares of the company's stock worth $2,254,000 after purchasing an additional 65,370 shares during the last quarter. SG Americas Securities LLC increased its position in Safehold by 265.4% during the fourth quarter. SG Americas Securities LLC now owns 24,071 shares of the company's stock worth $445,000 after purchasing an additional 17,484 shares during the last quarter. Geode Capital Management LLC boosted its holdings in Safehold by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company's stock valued at $32,734,000 after purchasing an additional 38,074 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Safehold during the 4th quarter worth approximately $306,000. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on SAFE shares. Morgan Stanley lowered Safehold from an "overweight" rating to an "equal weight" rating and lowered their price objective for the stock from $30.00 to $19.00 in a research report on Wednesday, January 15th. JMP Securities reiterated 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 lowered their price target on Safehold from $29.00 to $24.00 and set a "buy" rating for the company in a research report on Tuesday, January 7th. Mizuho cut their price objective on Safehold from $25.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Finally, Wedbush restated a "neutral" rating and set a $20.00 target price on shares of Safehold in a report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Safehold has an average rating of "Hold" and a consensus target price of $25.00.

Safehold Stock Up 2.0 %

Shares of NYSE:SAFE traded up $0.30 during trading on Thursday, hitting $15.48. 82,911 shares of the company were exchanged, compared to its average volume of 393,674. The firm's 50 day moving average price is $17.53 and its 200-day moving average price is $19.35. Safehold Inc. has a 12-month low of $13.68 and a 12-month high of $28.80. The company has a debt-to-equity ratio of 1.82, a current ratio of 36.59 and a quick ratio of 36.59. The stock has a market capitalization of $1.11 billion, a P/E ratio of 10.46 and a beta of 1.63.

Safehold (NYSE:SAFE - Get Free Report) last posted its earnings results on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, hitting analysts' consensus estimates of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same quarter in the previous year, the company earned $0.36 EPS. On average, research analysts predict that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently disclosed 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. This represents a $0.71 dividend on an annualized basis and a yield of 4.57%. The ex-dividend date of this dividend was Monday, March 31st. Safehold's dividend payout ratio is currently 47.30%.

Safehold 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.