Vanguard Group Inc. Sells 59,890 Shares of Safehold Inc. $SAFE

Vanguard Group Inc. cut its holdings in Safehold Inc. (NYSE:SAFE) by 0.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,539,171 shares of the company’s stock after selling 59,890 shares during the quarter. Vanguard Group Inc. owned 0.11% of Safehold worth $103,211,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Peregrine Capital Management LLC lifted its position in Safehold by 7.3% in the 4th quarter. Peregrine Capital Management LLC now owns 346,818 shares of the company’s stock valued at $4,748,000 after acquiring an additional 23,699 shares in the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Safehold by 12.1% during the 4th quarter. State of Alaska Department of Revenue now owns 60,760 shares of the company’s stock valued at $829,000 after buying an additional 6,538 shares during the period. Sterneck Capital Management LLC bought a new position in shares of Safehold during the 4th quarter valued at $149,000. Aberdeen Group plc lifted its holdings in shares of Safehold by 4.9% during the 4th quarter. Aberdeen Group plc now owns 19,892 shares of the company’s stock valued at $272,000 after buying an additional 922 shares during the period. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of Safehold by 9.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 20,257 shares of the company’s stock valued at $276,000 after buying an additional 1,777 shares during the period. 70.38% of the stock is owned by institutional investors.

Safehold Trading Up 0.0%

NYSE:SAFE opened at $15.22 on Wednesday. The company has a debt-to-equity ratio of 1.91, a current ratio of 35.58 and a quick ratio of 35.59. The firm has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 1.63 and a beta of 1.86. Safehold Inc. has a one year low of $12.76 and a one year high of $17.16. The business has a fifty day moving average price of $14.87 and a 200-day moving average price of $14.52.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.40 EPS for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $110.85 million during the quarter, compared to analysts’ expectations of $96.51 million. Safehold had a return on equity of 4.78% and a net margin of 28.58%. Sell-side analysts forecast that Safehold Inc. will post 1.69 EPS for the current year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Stockholders of record on Tuesday, March 31st were paid a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 4.7%. The ex-dividend date was Tuesday, March 31st. Safehold’s dividend payout ratio is 44.65%.

Analyst Ratings Changes

Several research firms have recently weighed in on SAFE. Mizuho increased their price target on Safehold from $15.00 to $16.00 and gave the company a “neutral” rating in a report on Wednesday, March 11th. Zacks Research cut Safehold from a “strong-buy” rating to a “hold” rating in a report on Wednesday, March 25th. Royal Bank Of Canada cut Safehold from a “market outperform” rating to a “sector perform” rating and lowered their price target for the company from $18.00 to $16.00 in a report on Friday, May 1st. Morgan Stanley cut Safehold from an “equal weight” rating to an “underweight” rating and lowered their price target for the company from $16.00 to $14.00 in a report on Thursday, January 22nd. Finally, Truist Financial increased their price target on Safehold from $16.00 to $17.00 and gave the company a “hold” rating in a report on Wednesday, February 18th. Three research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $19.00.

About Safehold

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.