First Trust Direct Indexing L.P. Purchases Shares of 8,934 Safehold Inc. (NYSE:SAFE)

First Trust Direct Indexing L.P. purchased a new stake in shares of Safehold Inc. (NYSE:SAFE) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund purchased 8,934 shares of the company’s stock, valued at approximately $234,000.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. grew its stake in 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 purchasing an additional 141,245 shares during the last quarter. Sei Investments Co. boosted its stake in shares of Safehold by 62.4% in the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after buying an additional 249,500 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Safehold in the first quarter worth about $4,400,000. SG Americas Securities LLC purchased a new stake in shares of Safehold in the first quarter worth about $1,979,000. Finally, Angeles Wealth Management LLC purchased a new stake in shares of Safehold in the second quarter worth about $585,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Price Performance

Shares of Safehold stock opened at $20.67 on Wednesday. The business has a 50 day simple moving average of $24.88 and a two-hundred day simple moving average of $22.03. Safehold Inc. has a 12 month low of $16.27 and a 12 month high of $28.80. The stock has a market capitalization of $1.48 billion, a P/E ratio of 12.16 and a beta of 1.68. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83.

Safehold (NYSE:SAFE) last posted its quarterly 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 return on equity of 4.79% and a net margin of 32.08%. The firm had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. During the same quarter last year, the firm earned $0.33 earnings per share. The business’s revenue for the quarter was up 6.0% on a year-over-year basis. As a group, analysts predict that Safehold Inc. will post 1.57 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.177 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.71 annualized dividend and a dividend yield of 3.43%. Safehold’s dividend payout ratio is presently 41.18%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. Wedbush restated a “neutral” rating and issued a $23.00 target price (down previously from $25.00) on shares of Safehold in a research note on Monday. The Goldman Sachs Group lowered their target price on Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. JMP Securities reiterated a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research report on Tuesday, October 29th. Royal Bank of Canada increased their price target on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Truist Financial increased their price target on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.22.

About Safehold

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.