Vestcor Inc Acquires 37,966 Shares of Safehold Inc. (NYSE:SAFE)

Vestcor Inc lifted its position in Safehold Inc. (NYSE:SAFE - Free Report) by 902.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,174 shares of the company's stock after acquiring an additional 37,966 shares during the quarter. Vestcor Inc owned approximately 0.06% of Safehold worth $779,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in SAFE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of Safehold by 266.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 349,631 shares of the company's stock worth $9,171,000 after buying an additional 254,227 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Safehold by 1,683.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 227,750 shares of the company's stock worth $4,209,000 after buying an additional 214,979 shares during the last quarter. B&I Capital AG boosted its holdings in shares of Safehold by 75.3% in the 4th quarter. B&I Capital AG now owns 417,503 shares of the company's stock worth $7,715,000 after buying an additional 179,376 shares during the last quarter. Heitman Real Estate Securities LLC purchased a new stake in Safehold during the third quarter valued at about $3,683,000. Finally, Edgestream Partners L.P. purchased a new stake in Safehold during the fourth quarter valued at about $2,217,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

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Safehold Price Performance

Shares of Safehold stock traded down $0.29 on Thursday, reaching $18.52. The stock had a trading volume of 212,906 shares, compared to its average volume of 355,728. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82. The business's 50 day moving average is $17.39 and its two-hundred day moving average is $20.67. The company has a market cap of $1.32 billion, a P/E ratio of 12.51 and a beta of 1.75. Safehold Inc. has a 1 year low of $15.55 and a 1 year high of $28.80.

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, hitting the consensus estimate of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same period in the previous year, the business earned $0.36 EPS. As a group, research analysts anticipate that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 3.82%. The ex-dividend date of this dividend is Monday, March 31st. Safehold's dividend payout ratio (DPR) is 47.30%.

Analyst Upgrades and Downgrades

SAFE has been the topic of several recent research reports. The Goldman Sachs Group dropped 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, January 7th. Morgan Stanley downgraded shares of Safehold from an "overweight" rating to an "equal weight" rating and dropped their price objective for the company from $30.00 to $19.00 in a report on Wednesday, January 15th. Wedbush reaffirmed a "neutral" rating and set a $19.00 price objective (down from $20.00) on shares of Safehold in a report on Friday, February 7th. Finally, JMP Securities reissued a "market outperform" rating and issued a $35.00 price target on shares of Safehold in a report on Thursday, February 6th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $25.56.

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.