Geode Capital Management LLC increased its position in shares of Safehold Inc. (NYSE:SAFE - Free Report) by 3.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,247,740 shares of the company's stock after buying an additional 38,074 shares during the period. Geode Capital Management LLC owned about 1.75% of Safehold worth $32,734,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of SAFE. Angeles Wealth Management LLC purchased a new stake in Safehold during the 2nd quarter worth approximately $585,000. Victory Capital Management Inc. acquired a new stake in shares of Safehold during the third quarter worth approximately $639,000. Charles Schwab Investment Management Inc. increased its stake in shares of Safehold by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company's stock worth $18,039,000 after buying an additional 39,320 shares during the last quarter. Barclays PLC raised its holdings in Safehold by 317.9% in the third quarter. Barclays PLC now owns 85,932 shares of the company's stock valued at $2,254,000 after acquiring an additional 65,370 shares in the last quarter. Finally, State Street Corp boosted its stake in Safehold by 2.0% during the 3rd quarter. State Street Corp now owns 2,618,033 shares of the company's stock valued at $69,131,000 after acquiring an additional 51,035 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company's stock.
Safehold Stock Performance
SAFE stock traded up $0.19 on Thursday, reaching $18.99. The company's stock had a trading volume of 406,331 shares, compared to its average volume of 354,903. Safehold Inc. has a 52 week low of $17.91 and a 52 week high of $28.80. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The company has a market capitalization of $1.36 billion, a P/E ratio of 11.17 and a beta of 1.66. The firm has a fifty day moving average of $21.04 and a two-hundred day moving average of $22.30.
Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company had revenue of $90.70 million during the quarter, compared to analysts' expectations of $89.45 million. During the same quarter in the prior year, the business posted $0.33 earnings per share. The company's revenue for the quarter was up 6.0% compared to the same quarter last year. As a group, analysts predict that Safehold Inc. will post 1.56 EPS for the current fiscal year.
Safehold Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be given a dividend of $0.177 per share. The ex-dividend date is Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.73%. Safehold's dividend payout ratio (DPR) is 41.18%.
Analyst Upgrades and Downgrades
Several research firms have recently weighed in on SAFE. JMP Securities reissued a "market outperform" rating and issued a $35.00 target price on shares of Safehold in a research report on Tuesday, October 29th. The Goldman Sachs Group cut their price objective on Safehold from $38.00 to $30.00 and set a "buy" rating on the stock in a research note on Friday, November 1st. Raymond James upgraded Safehold from a "market perform" rating to an "outperform" rating and set a $34.00 target price for the company in a research report on Thursday, September 19th. Wedbush restated a "neutral" rating and set a $23.00 price objective (down from $25.00) on shares of Safehold in a research note on Monday, November 4th. Finally, Royal Bank of Canada increased their target price on shares of Safehold from $30.00 to $31.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.22.
Check Out Our Latest Research Report on SAFE
About Safehold
(
Free Report)
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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