Safehold Inc. (NYSE:SAFE) Position Lifted by HGI Capital Management LLC

HGI Capital Management LLC increased its position in Safehold Inc. (NYSE:SAFE - Free Report) by 74.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 212,887 shares of the company's stock after purchasing an additional 90,866 shares during the period. Safehold accounts for 4.9% of HGI Capital Management LLC's portfolio, making the stock its 7th biggest position. HGI Capital Management LLC owned approximately 0.30% of Safehold worth $5,584,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Safehold by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company's stock valued at $161,949,000 after buying an additional 141,245 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in Safehold in the first quarter worth about $330,000. Price T Rowe Associates Inc. MD increased its stake in shares of Safehold by 4.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 38,835 shares of the company's stock valued at $801,000 after purchasing an additional 1,731 shares in the last quarter. Kennedy Capital Management LLC lifted its holdings in shares of Safehold by 69.1% during the first quarter. Kennedy Capital Management LLC now owns 71,462 shares of the company's stock valued at $1,472,000 after purchasing an additional 29,206 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in shares of Safehold by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company's stock worth $9,080,000 after purchasing an additional 34,404 shares in the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

Safehold Stock Performance

Safehold stock traded up $0.04 during midday trading on Friday, reaching $21.36. 228,516 shares of the company traded hands, compared to its average volume of 348,552. Safehold Inc. has a 12 month low of $17.91 and a 12 month 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 business has a 50 day moving average of $23.11 and a two-hundred day moving average of $22.20. The firm has a market capitalization of $1.53 billion, a price-to-earnings ratio of 12.56 and a beta of 1.68.

Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The firm had revenue of $90.70 million for the quarter, compared to analysts' expectations of $89.45 million. During the same period in the prior year, the firm earned $0.33 EPS. The company's revenue was up 6.0% compared to the same quarter last year. As a group, research analysts predict that Safehold Inc. will post 1.56 earnings per share for the current year.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were given a $0.177 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 3.31%. Safehold's payout ratio is 41.76%.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on SAFE. Truist Financial lifted their price objective on Safehold from $21.00 to $22.00 and gave the company a "hold" rating in a research note on Monday, August 5th. Royal Bank of Canada upped their price target on shares of Safehold from $30.00 to $31.00 and gave the stock an "outperform" rating in a research note on Wednesday, October 30th. Raymond James upgraded shares of Safehold from a "market perform" rating to an "outperform" rating and set a $34.00 price objective for the company in a research note on Thursday, September 19th. Wedbush reaffirmed a "neutral" rating and issued a $23.00 target price (down from $25.00) on shares of Safehold in a report on Monday, November 4th. Finally, JMP Securities reissued a "market outperform" rating and set a $35.00 price target on shares of Safehold in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $28.22.

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.