Legal & General Group Plc Lowers Stake in Safehold Inc. (NYSE:SAFE)

Legal & General Group Plc reduced its stake in Safehold Inc. (NYSE:SAFE - Free Report) by 8.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 326,227 shares of the company's stock after selling 30,391 shares during the period. Legal & General Group Plc owned approximately 0.46% of Safehold worth $6,028,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of SAFE. Rhumbline Advisers lifted its stake in Safehold by 0.4% during the fourth quarter. Rhumbline Advisers now owns 163,179 shares of the company's stock worth $3,016,000 after purchasing an additional 663 shares in the last quarter. M&T Bank Corp increased its stake in Safehold by 3.4% during the 4th quarter. M&T Bank Corp now owns 27,520 shares of the company's stock worth $509,000 after buying an additional 899 shares during the period. Corient Private Wealth LLC lifted its holdings in Safehold by 6.9% during the 4th quarter. Corient Private Wealth LLC now owns 14,260 shares of the company's stock worth $264,000 after buying an additional 924 shares in the last quarter. Smartleaf Asset Management LLC boosted its holdings in Safehold by 268.4% in the fourth 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. Finally, FMR LLC grew its stake in Safehold by 24.9% during the 3rd quarter. FMR LLC now owns 5,840 shares of the company's stock worth $153,000 after purchasing an additional 1,163 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company's stock.

Safehold Price Performance

NYSE:SAFE traded up $0.13 during trading hours on Thursday, reaching $15.38. 187,391 shares of the company traded hands, compared to its average volume of 482,018. The firm's 50-day moving average is $17.31 and its 200-day moving average is $18.98. Safehold Inc. has a 1-year low of $13.68 and a 1-year high of $28.80. The stock has a market cap of $1.10 billion, a P/E ratio of 10.39 and a beta of 1.63. The company has a debt-to-equity ratio of 1.82, a current ratio of 36.59 and a quick ratio of 36.59.

Safehold (NYSE:SAFE - Get Free Report) last posted its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, meeting analysts' consensus estimates of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same period last year, the firm earned $0.36 earnings per share. Equities research analysts expect that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were paid a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 4.60%. The ex-dividend date was Monday, March 31st. Safehold's payout ratio is 47.30%.

Analyst Ratings Changes

SAFE has been the subject of a number of analyst reports. JMP Securities reissued a "market outperform" rating and set a $35.00 price objective on shares of Safehold in a research report on Thursday, February 6th. Mizuho dropped their price objective on shares of Safehold from $25.00 to $19.00 and set a "neutral" rating on the stock in a research report on Thursday, April 3rd. Morgan Stanley cut shares of Safehold from an "overweight" rating to an "equal weight" rating and decreased their price objective for the stock from $30.00 to $19.00 in a research report on Wednesday, January 15th. The Goldman Sachs Group cut their target price on Safehold from $29.00 to $24.00 and set a "buy" rating on the stock in a research report on Tuesday, January 7th. Finally, Wedbush restated a "neutral" rating and set a $20.00 price objective on shares of Safehold in a research report on Monday, March 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Safehold presently has an average rating of "Moderate Buy" and an average price target of $25.50.

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.