PNC Financial Services Group Inc. Boosts Stake in Safehold Inc. (NYSE:SAFE)

PNC Financial Services Group Inc. boosted its position in shares of Safehold Inc. (NYSE:SAFE) by 65.6% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,488 shares of the company’s stock after buying an additional 2,965 shares during the period. PNC Financial Services Group Inc.’s holdings in Safehold were worth $175,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in SAFE. Versant Capital Management Inc increased its holdings in shares of Safehold by 197.7% in the 4th quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock worth $33,000 after buying an additional 931 shares during the last quarter. GAMMA Investing LLC bought a new stake in Safehold in the fourth quarter worth about $33,000. Fifth Third Bancorp boosted its position in shares of Safehold by 78.0% during the fourth quarter. Fifth Third Bancorp now owns 2,482 shares of the company’s stock valued at $58,000 after buying an additional 1,088 shares during the period. abrdn plc purchased a new position in shares of Safehold during the fourth quarter valued at approximately $211,000. Finally, Everence Capital Management Inc. bought a new position in shares of Safehold during the fourth quarter valued at approximately $213,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the company. Royal Bank of Canada dropped their price objective on Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a report on Wednesday, May 8th. Mizuho lowered shares of Safehold from a “buy” rating to a “neutral” rating and lowered their target price for the company from $22.00 to $20.00 in a research note on Friday, May 10th. The Goldman Sachs Group raised their price target on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. JPMorgan Chase & Co. lowered their price objective on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research report on Thursday, May 16th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $27.22.

Safehold Trading Up 1.6 %

NYSE:SAFE opened at $18.79 on Thursday. The firm has a 50-day simple moving average of $19.14 and a 200-day simple moving average of $20.19. Safehold Inc. has a one year low of $15.00 and a one year high of $26.33. The firm has a market cap of $1.34 billion, a P/E ratio of -41.76 and a beta of 1.65. The company has a debt-to-equity ratio of 1.78, a quick ratio of 42.51 and a current ratio of 42.51.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Monday, May 6th. The company reported $0.43 EPS for the quarter, topping analysts’ consensus estimates of $0.39 by $0.04. The company had revenue of $93.20 million during the quarter, compared to the consensus estimate of $88.20 million. Safehold had a negative net margin of 7.87% and a positive return on equity of 4.43%. Safehold’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.41 earnings per share. Equities analysts anticipate that Safehold Inc. will post 1.53 EPS for the current fiscal year.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Investors of record on Friday, June 28th will be paid a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.77%. The ex-dividend date is Friday, June 28th. Safehold’s dividend payout ratio (DPR) is currently -157.78%.

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.