JPMorgan Chase & Co. Increases Stake in Safehold Inc. (NYSE:SAFE)

JPMorgan Chase & Co. grew its stake in shares of Safehold Inc. (NYSE:SAFE) by 16.1% in the third quarter, HoldingsChannel.com reports. The firm owned 662,179 shares of the company’s stock after buying an additional 91,965 shares during the quarter. JPMorgan Chase & Co.’s holdings in Safehold were worth $17,369,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Victory Capital Management Inc. purchased a new position in shares of Safehold during the third quarter valued at approximately $639,000. Charles Schwab Investment Management Inc. boosted its holdings in Safehold by 6.1% in the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after acquiring an additional 39,320 shares in the last quarter. Barclays PLC increased its position in Safehold by 317.9% during the 3rd quarter. Barclays PLC now owns 85,932 shares of the company’s stock valued at $2,254,000 after purchasing an additional 65,370 shares during the period. Geode Capital Management LLC raised its holdings in Safehold by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock worth $32,734,000 after purchasing an additional 38,074 shares in the last quarter. Finally, Systematic Financial Management LP purchased a new stake in shares of Safehold in the 3rd quarter worth about $1,130,000. Institutional investors own 70.38% of the company’s stock.

Analyst Ratings Changes

SAFE has been the subject of a number of research reports. Royal Bank of Canada increased 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. 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, November 4th. The Goldman Sachs Group reduced their price target on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday. JMP Securities reissued a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research report on Tuesday, October 29th. Finally, Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $26.88.

Safehold Price Performance

Shares of NYSE:SAFE opened at $16.50 on Friday. The business has a fifty day moving average price of $20.01 and a 200-day moving average price of $22.25. 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 company has a market capitalization of $1.18 billion, a PE ratio of 9.71 and a beta of 1.67. Safehold Inc. has a 1-year low of $16.30 and a 1-year high of $28.80.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.37 EPS for the quarter, meeting the consensus estimate of $0.37. The company had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. Safehold’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same period in the prior year, the firm posted $0.33 EPS. As a group, equities analysts expect that Safehold Inc. will post 1.56 EPS for the current fiscal year.

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 4.29%. The ex-dividend date of this dividend is Monday, December 30th. Safehold’s dividend payout ratio (DPR) is currently 41.18%.

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.