Exchange Traded Concepts LLC Has $1.51 Million Stake in Safehold Inc. (NYSE:SAFE)

Exchange Traded Concepts LLC reduced its holdings in Safehold Inc. (NYSE:SAFE) by 3.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 81,808 shares of the company’s stock after selling 2,750 shares during the period. Exchange Traded Concepts LLC owned approximately 0.11% of Safehold worth $1,512,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of SAFE. JPMorgan Chase & Co. raised its position in shares of Safehold by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company’s stock valued at $17,369,000 after acquiring an additional 91,965 shares during the last quarter. Victory Capital Management Inc. bought a new stake in Safehold in the third quarter valued at about $639,000. Charles Schwab Investment Management Inc. lifted its stake 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 buying an additional 39,320 shares during the period. Barclays PLC boosted its holdings in Safehold by 317.9% during the third quarter. Barclays PLC now owns 85,932 shares of the company’s stock worth $2,254,000 after buying an additional 65,370 shares during the last quarter. Finally, Geode Capital Management LLC grew its position in shares of Safehold by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock worth $32,734,000 after buying an additional 38,074 shares during the period. 70.38% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms recently weighed in on SAFE. Morgan Stanley lowered shares of Safehold from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. Mizuho boosted their price target on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Wedbush reaffirmed a “neutral” rating and set a $23.00 price objective (down previously from $25.00) on shares of Safehold in a research note on Monday, November 4th. The Goldman Sachs Group decreased their target price on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research report on Tuesday, October 29th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $26.00.

Safehold Stock Up 3.8 %

NYSE:SAFE opened at $16.83 on Tuesday. The company has a market cap of $1.20 billion, a PE ratio of 9.90 and a beta of 1.67. The stock has a 50-day simple moving average of $19.03 and a 200 day simple moving average of $22.09. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. Safehold Inc. has a 52-week low of $15.55 and a 52-week high of $28.80.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $89.45 million. During the same period last year, the company earned $0.33 earnings per share. The firm’s revenue was up 6.0% compared to the same quarter last year. On average, sell-side analysts expect that Safehold Inc. will post 1.57 EPS for the current fiscal year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.177 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.71 annualized dividend and a yield of 4.21%. Safehold’s payout ratio is currently 41.76%.

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.