Geode Capital Management LLC Raises Stake in Safehold Inc. (NYSE:SAFE)

Geode Capital Management LLC lifted its stake in Safehold Inc. (NYSE:SAFE) by 3.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,247,740 shares of the company’s stock after purchasing an additional 38,074 shares during the period. Geode Capital Management LLC owned approximately 1.75% of Safehold worth $32,734,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in SAFE. Vestcor Inc purchased a new position in shares of Safehold in the third quarter valued at $110,000. Barclays PLC grew its stake in Safehold by 317.9% in the 3rd quarter. Barclays PLC now owns 85,932 shares of the company’s stock valued at $2,254,000 after acquiring an additional 65,370 shares during the last quarter. Jane Street Group LLC increased its holdings in Safehold by 6.2% during the 3rd quarter. Jane Street Group LLC now owns 44,910 shares of the company’s stock valued at $1,178,000 after acquiring an additional 2,632 shares in the last quarter. State Street Corp increased its holdings in Safehold by 2.0% during the 3rd quarter. State Street Corp now owns 2,618,033 shares of the company’s stock valued at $69,131,000 after acquiring an additional 51,035 shares in the last quarter. Finally, Systematic Financial Management LP acquired a new position in Safehold during the third quarter worth about $1,130,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on SAFE. JMP Securities reissued a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Tuesday, October 29th. 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. Royal Bank of Canada upped their price objective on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. The Goldman Sachs Group dropped their price objective on Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Finally, Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research report on Thursday, September 19th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Safehold currently has a consensus rating of “Moderate Buy” and an average price target of $28.22.

Safehold Price Performance

SAFE opened at $18.80 on Thursday. Safehold Inc. has a 1 year low of $17.91 and a 1 year high of $28.80. The company’s 50 day simple moving average is $21.15 and its 200 day simple moving average is $22.32. The stock has a market capitalization of $1.34 billion, a PE ratio of 11.06 and a beta of 1.66. 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 results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $90.70 million for the quarter, compared to analyst estimates of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. Safehold’s revenue for the quarter was up 6.0% on a year-over-year basis. During the same quarter last year, the business earned $0.33 EPS. As a group, sell-side analysts expect that Safehold Inc. will post 1.56 EPS for the current year.

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be given a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 3.77%. The ex-dividend date of this dividend is Monday, December 30th. Safehold’s dividend payout ratio (DPR) is presently 41.18%.

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.