Victory Capital Management Inc. Makes New $639,000 Investment in Safehold Inc. (NYSE:SAFE)

Victory Capital Management Inc. acquired a new position in shares of Safehold Inc. (NYSE:SAFE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 24,366 shares of the company’s stock, valued at approximately $639,000.

Several other hedge funds also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. grew its holdings in Safehold by 35.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after purchasing an additional 471 shares during the period. GAMMA Investing LLC grew its stake in shares of Safehold by 108.7% in the 3rd quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after buying an additional 920 shares during the period. Breakwater Capital Group increased its position in Safehold by 14.2% in the 2nd quarter. Breakwater Capital Group now owns 12,477 shares of the company’s stock valued at $241,000 after buying an additional 1,550 shares in the last quarter. Handelsbanken Fonder AB raised its stake in Safehold by 9.1% during the 3rd quarter. Handelsbanken Fonder AB now owns 19,243 shares of the company’s stock worth $505,000 after buying an additional 1,600 shares during the period. Finally, Price T Rowe Associates Inc. MD boosted its holdings in Safehold by 4.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 38,835 shares of the company’s stock worth $801,000 after acquiring an additional 1,731 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on SAFE. Mizuho boosted their price objective on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective on the stock in a report on Thursday, September 19th. Royal Bank of Canada lifted their price objective on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Wedbush restated a “neutral” rating and issued a $23.00 target price (down previously from $25.00) on shares of Safehold in a report on Monday, November 4th. Finally, Truist Financial raised their price target on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $28.22.

Safehold Stock Up 3.3 %

Safehold stock opened at $21.32 on Friday. Safehold Inc. has a fifty-two week low of $17.91 and a fifty-two week high of $28.80. 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 firm’s 50-day simple moving average is $23.23 and its 200 day simple moving average is $22.21. The stock has a market cap of $1.52 billion, a PE ratio of 12.54 and a beta of 1.68.

Safehold (NYSE:SAFE) last announced its earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.37. The firm had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 EPS. Research analysts predict that Safehold Inc. will post 1.56 EPS for the current fiscal year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid 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 (DPR) is presently 41.76%.

Safehold 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.