Truist Financial Corp Has $409,000 Stock Holdings in Safehold Inc. (NYSE:SAFE)

Truist Financial Corp raised its holdings in Safehold Inc. (NYSE:SAFE) by 10.7% during the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 21,179 shares of the company’s stock after purchasing an additional 2,040 shares during the quarter. Truist Financial Corp’s holdings in Safehold were worth $409,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Vanguard Group Inc. boosted its holdings in shares of Safehold by 1.8% in 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 in the last quarter. Long Pond Capital LP boosted its holdings in shares of Safehold by 14.9% in the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after purchasing an additional 345,661 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Safehold by 3.2% in the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock valued at $12,926,000 after purchasing an additional 20,483 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Safehold by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock valued at $9,080,000 after acquiring an additional 34,404 shares during the last quarter. Finally, Peregrine Capital Management LLC lifted its stake in shares of Safehold by 10.0% in the 2nd quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock valued at $7,443,000 after acquiring an additional 35,046 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Stock Down 2.7 %

Shares of NYSE:SAFE opened at $24.57 on Friday. The firm has a market cap of $1.76 billion, a P/E ratio of -54.60 and a beta of 1.66. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76. Safehold Inc. has a 12-month low of $15.00 and a 12-month high of $28.80. The business has a fifty day simple moving average of $25.16 and a 200 day simple moving average of $21.71.

Safehold (NYSE:SAFE) last announced its earnings results on Monday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. The business had revenue of $89.90 million during the quarter, compared to analyst estimates of $87.28 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. Safehold’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period last year, the company earned $0.35 EPS. Analysts predict that Safehold Inc. will post 1.59 earnings per share for the current year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 2.88%. The ex-dividend date was Monday, September 30th. Safehold’s dividend payout ratio (DPR) is presently -155.56%.

Wall Street Analysts Forecast Growth

SAFE has been the subject of a number of research reports. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research note on Thursday, September 19th. Wedbush increased their price target on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group increased their price target on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. Finally, Truist Financial increased their price target on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $28.56.

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.