Thrivent Financial for Lutherans Decreases Stock Position in Safehold Inc. (NYSE:SAFE)

Thrivent Financial for Lutherans reduced its position in shares of Safehold Inc. (NYSE:SAFE - Free Report) by 30.7% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 62,363 shares of the company's stock after selling 27,633 shares during the quarter. Thrivent Financial for Lutherans owned 0.09% of Safehold worth $1,152,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of SAFE. Smartleaf Asset Management LLC boosted its stake in Safehold by 268.4% during the 4th 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 last quarter. Vestcor Inc purchased a new stake in shares of Safehold during the third quarter valued at $110,000. FMR LLC raised its position in Safehold by 24.9% in the 3rd quarter. FMR LLC now owns 5,840 shares of the company's stock worth $153,000 after buying an additional 1,163 shares during the last quarter. PNC Financial Services Group Inc. lifted its stake in Safehold by 16.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 8,455 shares of the company's stock valued at $156,000 after acquiring an additional 1,173 shares during the period. Finally, Sage Investment Counsel LLC bought a new stake in shares of Safehold in the fourth quarter worth approximately $186,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

Safehold Trading Down 2.7 %

Shares of SAFE stock traded down $0.49 on Thursday, reaching $17.85. 445,546 shares of the company's stock were exchanged, compared to its average volume of 383,730. The company's fifty day simple moving average is $17.72 and its 200 day simple moving average is $20.18. The stock has a market capitalization of $1.28 billion, a PE ratio of 12.06 and a beta of 1.62. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82. Safehold Inc. has a 52 week low of $15.55 and a 52 week high of $28.80.

Remove Ads

Safehold (NYSE:SAFE - Get Free Report) last announced 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 quarter last year, the business posted $0.36 earnings per share. As a group, analysts forecast that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.177 per share. The ex-dividend date is Monday, March 31st. This represents a $0.71 dividend on an annualized basis and a yield of 3.97%. Safehold's dividend payout ratio is currently 47.30%.

Wall Street Analyst Weigh In

SAFE has been the topic of several research analyst reports. Mizuho lowered their price target on Safehold from $25.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday. 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 cut their price objective for the company from $30.00 to $19.00 in a research report on Wednesday, January 15th. JMP Securities reissued a "market outperform" rating and issued a $35.00 target price on shares of Safehold in a report on Thursday, February 6th. Finally, Wedbush reaffirmed a "neutral" rating and set a $20.00 price target on shares of Safehold in a report on Monday. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $25.00.

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.