Thrivent Financial for Lutherans Acquires 52,636 Shares of Safehold Inc. (NYSE:SAFE)

Thrivent Financial for Lutherans boosted its stake in shares of Safehold Inc. (NYSE:SAFE) by 140.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 89,996 shares of the company’s stock after purchasing an additional 52,636 shares during the period. Thrivent Financial for Lutherans owned about 0.13% of Safehold worth $2,361,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC increased its holdings in Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after acquiring an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in Safehold by 35.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after buying an additional 471 shares in the last quarter. KBC Group NV grew its holdings in Safehold by 79.3% during the 3rd quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after buying an additional 1,275 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Safehold during the 2nd quarter valued at approximately $204,000. Finally, Quest Partners LLC bought a new position in shares of Safehold during the 2nd quarter valued at approximately $225,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analyst Upgrades and Downgrades

SAFE has been the subject of several recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Tuesday, October 29th. The Goldman Sachs Group dropped their price objective on shares of Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Mizuho boosted their target price on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Truist Financial boosted their target price on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, August 5th. Finally, Royal Bank of Canada lifted their price objective on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four 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, Safehold presently has a consensus rating of “Moderate Buy” and a consensus target price of $28.22.

Safehold Stock Performance

Shares of Safehold stock opened at $21.32 on Thursday. The company has a market capitalization of $1.52 billion, a PE ratio of 12.14 and a beta of 1.68. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. The company has a 50-day simple moving average of $23.36 and a two-hundred day simple moving average of $22.21. Safehold Inc. has a one year low of $17.91 and a one year 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 the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. During the same quarter in the prior year, the company posted $0.33 earnings per share. The company’s revenue for the quarter was up 6.0% compared to the same quarter last year. Research analysts expect that Safehold Inc. will post 1.56 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.177 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a yield of 3.32%. Safehold’s dividend 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.