Norges Bank Acquires New Stake in Safehold Inc. (NYSE:SAFE)

Norges Bank bought a new position in Safehold Inc. (NYSE:SAFE - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 138,110 shares of the company's stock, valued at approximately $2,552,000. Norges Bank owned about 0.19% of Safehold as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of SAFE. State Street Corp increased its holdings in shares of Safehold by 2.0% in the 3rd quarter. State Street Corp now owns 2,618,033 shares of the company's stock worth $69,131,000 after buying an additional 51,035 shares during the last quarter. American Century Companies Inc. lifted its holdings in Safehold by 11.1% in the fourth quarter. American Century Companies Inc. now owns 1,515,743 shares of the company's stock valued at $28,011,000 after acquiring an additional 150,976 shares during the period. Geode Capital Management LLC raised its position in Safehold by 3.1% during the third quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company's stock worth $32,734,000 after acquiring an additional 38,074 shares during the period. JPMorgan Chase & Co. boosted its position in Safehold by 58.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,051,078 shares of the company's stock worth $19,424,000 after acquiring an additional 388,899 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Safehold by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company's stock valued at $13,251,000 after buying an additional 29,348 shares during the period. Institutional investors own 70.38% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on SAFE. JMP Securities restated a "market outperform" rating and issued a $35.00 target price on shares of Safehold in a report on Thursday, February 6th. Wedbush restated a "neutral" rating and issued a $20.00 target price on shares of Safehold in a research note on Monday, March 31st. Mizuho decreased their target price on shares of Safehold from $25.00 to $19.00 and set a "neutral" rating for the company in a research report on Thursday, April 3rd. Morgan Stanley downgraded Safehold from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $30.00 to $19.00 in a report on Wednesday, January 15th. Finally, The Goldman Sachs Group reduced their price objective on shares of Safehold from $29.00 to $24.00 and set a "buy" rating for the company in a research note on Tuesday, January 7th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $25.00.

Safehold Price Performance

SAFE traded up $0.26 during trading on Thursday, reaching $15.44. 69,809 shares of the company were exchanged, compared to its average volume of 393,625. The company has a market cap of $1.11 billion, a price-to-earnings ratio of 10.47 and a beta of 1.63. Safehold Inc. has a 12-month low of $13.68 and a 12-month high of $28.80. The company's 50-day moving average is $17.53 and its two-hundred day moving average is $19.35. The company has a quick ratio of 36.59, a current ratio of 36.59 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same period in the previous year, the company posted $0.36 earnings per share. Research analysts forecast that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st were given a $0.177 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.71 annualized dividend and a yield of 4.59%. Safehold's payout ratio is 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.