State Street Corp Purchases 51,035 Shares of Safehold Inc. (NYSE:SAFE)

State Street Corp boosted its holdings in shares of Safehold Inc. (NYSE:SAFE - Free Report) by 2.0% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,618,033 shares of the company's stock after purchasing an additional 51,035 shares during the period. State Street Corp owned about 3.66% of Safehold worth $69,131,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Angeles Wealth Management LLC bought a new stake in shares of Safehold in the 2nd quarter worth about $585,000. Victory Capital Management Inc. bought a new stake in Safehold during the third quarter worth about $639,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Safehold by 6.1% during 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 in the last quarter. Systematic Financial Management LP acquired a new stake in shares of Safehold during the third quarter worth approximately $1,130,000. Finally, Bank of New York Mellon Corp raised its stake in shares of Safehold by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company's stock valued at $9,080,000 after acquiring an additional 34,404 shares during the last quarter. 70.38% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on SAFE. Raymond James raised Safehold from a "market perform" rating to an "outperform" rating and set a $34.00 price target for the company in a report on Thursday, September 19th. JMP Securities restated a "market outperform" rating and issued a $35.00 target price on shares of Safehold in a research note on Tuesday, October 29th. Royal Bank of Canada lifted their price target on Safehold from $30.00 to $31.00 and gave the company an "outperform" rating in a report on Wednesday, October 30th. Wedbush reissued a "neutral" rating and set a $23.00 price objective (down previously from $25.00) on shares of Safehold in a report on Monday, November 4th. Finally, Mizuho boosted 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. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $28.22.

Safehold Trading Down 5.0 %

Shares of NYSE SAFE traded down $1.03 during mid-day trading on Wednesday, hitting $19.76. The company's stock had a trading volume of 377,592 shares, compared to its average volume of 345,881. Safehold Inc. has a one year low of $17.91 and a one year high of $28.80. The company's fifty day simple moving average is $21.80 and its 200-day simple moving average is $22.34. 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 stock has a market cap of $1.41 billion, a price-to-earnings ratio of 11.62 and a beta of 1.66.

Safehold (NYSE:SAFE - Get Free Report) last issued its earnings results on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. 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 previous year, the company posted $0.33 EPS. The business's revenue for the quarter was up 6.0% compared to the same quarter last year. On average, sell-side analysts anticipate that Safehold Inc. will post 1.56 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be paid a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 3.58%. The ex-dividend date of this dividend is Monday, December 30th. Safehold's payout ratio is 41.18%.

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.