JPMorgan Chase & Co. Boosts Stock Position in Safehold Inc. (NYSE:SAFE)

JPMorgan Chase & Co. boosted its position in shares of Safehold Inc. (NYSE:SAFE - Free Report) by 16.1% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 662,179 shares of the company's stock after acquiring an additional 91,965 shares during the quarter. JPMorgan Chase & Co. owned 0.93% of Safehold worth $17,369,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Franklin Resources Inc. boosted its stake in shares of Safehold by 17.5% in the third quarter. Franklin Resources Inc. now owns 16,631 shares of the company's stock valued at $407,000 after purchasing an additional 2,472 shares during the period. Tidal Investments LLC acquired a new stake in Safehold during the 3rd quarter worth approximately $370,000. Geode Capital Management LLC boosted its position 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 buying an additional 38,074 shares during the period. Vestcor Inc acquired a new position in shares of Safehold in the third quarter worth $110,000. Finally, Barclays PLC increased its position in shares of Safehold by 317.9% during the third quarter. Barclays PLC now owns 85,932 shares of the company's stock worth $2,254,000 after acquiring an additional 65,370 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on SAFE. Raymond James raised Safehold from a "market perform" rating to an "outperform" rating and set a $34.00 target price for the company in a research note on Thursday, September 19th. Mizuho upped their target price on shares of Safehold from $20.00 to $25.00 and gave the stock a "neutral" rating in a research note on Thursday, October 31st. Wedbush reiterated a "neutral" rating and issued a $23.00 price target (down previously from $25.00) on shares of Safehold in a research note on Monday, November 4th. Royal Bank of Canada boosted their price target on shares of Safehold from $30.00 to $31.00 and gave the stock an "outperform" rating in a report on Wednesday, October 30th. Finally, The Goldman Sachs Group reduced their price objective on shares of Safehold from $29.00 to $24.00 and set a "buy" rating on the stock in a report on Tuesday. Four research 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.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $26.88.

Safehold Stock Down 3.7 %

Shares of NYSE SAFE traded down $0.62 during mid-day trading on Friday, reaching $15.93. The company had a trading volume of 580,595 shares, compared to its average volume of 587,299. The firm has a 50 day simple moving average of $20.01 and a two-hundred day simple moving average of $22.25. Safehold Inc. has a 52-week low of $15.59 and a 52-week high of $28.80. The company has a current ratio of 37.83, a quick ratio of 37.83 and a debt-to-equity ratio of 1.85. The stock has a market cap of $1.14 billion, a P/E ratio of 9.37 and a beta of 1.67.

Safehold (NYSE:SAFE - Get Free Report) last issued its quarterly earnings data 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 for the quarter, compared to analyst estimates of $89.45 million. During the same quarter last year, the company posted $0.33 earnings per share. The business's quarterly revenue was up 6.0% compared to the same quarter last year. Sell-side analysts predict that Safehold Inc. will post 1.56 earnings per share for the current year.

Safehold Dividend Announcement

The company 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. This represents a $0.71 annualized dividend and a yield of 4.44%. The ex-dividend date is Monday, December 30th. Safehold's dividend payout ratio (DPR) is 41.18%.

Safehold Company 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.