Principal Financial Group Inc. Cuts Position in Safehold Inc. (NYSE:SAFE)

Principal Financial Group Inc. lowered its stake in shares of Safehold Inc. (NYSE:SAFE) by 3.0% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 215,957 shares of the company’s stock after selling 6,705 shares during the period. Principal Financial Group Inc. owned about 0.30% of Safehold worth $5,665,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in SAFE. Vanguard Group Inc. raised its stake in shares of Safehold by 1.8% during the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock worth $161,949,000 after buying an additional 141,245 shares during the last quarter. Long Pond Capital LP increased its holdings in Safehold by 14.9% during the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after acquiring an additional 345,661 shares in the last quarter. Sei Investments Co. raised its position in Safehold by 3.2% during the second quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock worth $12,926,000 after acquiring an additional 20,483 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Safehold by 7.9% in the second quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock valued at $9,080,000 after purchasing an additional 34,404 shares in the last quarter. Finally, Peregrine Capital Management LLC grew its position in shares of Safehold by 10.0% in the second quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock valued at $7,443,000 after purchasing an additional 35,046 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Mizuho raised their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Tuesday, October 29th. Truist Financial raised their price target on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Royal Bank of Canada boosted their price objective on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, The Goldman Sachs Group decreased their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $28.22.

Safehold Stock Performance

Shares of Safehold stock opened at $20.43 on Thursday. The firm has a market cap of $1.46 billion, a PE ratio of 12.02 and a beta of 1.68. Safehold Inc. has a 1 year low of $17.91 and a 1 year high of $28.80. The firm’s 50-day simple moving average is $23.82 and its 200-day simple moving average is $22.16. 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 (NYSE:SAFE) last announced its quarterly earnings data on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The firm had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. During the same period last year, the business posted $0.33 earnings per share. The firm’s revenue for the quarter was up 6.0% on a year-over-year basis. Equities analysts forecast that Safehold Inc. will post 1.56 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio (DPR) is presently 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.