Franklin Resources Inc. Has $407,000 Stock Holdings in Safehold Inc. (NYSE:SAFE)

Franklin Resources Inc. lifted its stake in Safehold Inc. (NYSE:SAFE) by 17.5% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 16,631 shares of the company’s stock after acquiring an additional 2,472 shares during the quarter. Franklin Resources Inc.’s holdings in Safehold were worth $407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Long Pond Capital LP lifted its stake in Safehold by 14.9% in the second 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 during the last quarter. State Street Corp raised its holdings in shares of Safehold by 2.0% in the 3rd quarter. State Street Corp now owns 2,618,033 shares of the company’s stock valued at $69,131,000 after purchasing an additional 51,035 shares during the period. Geode Capital Management LLC lifted its stake in Safehold by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock valued at $32,734,000 after purchasing an additional 38,074 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Safehold by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock worth $18,039,000 after purchasing an additional 39,320 shares during the period. Finally, Sei Investments Co. increased 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 buying an additional 20,483 shares during the last quarter. Institutional investors own 70.38% of the company’s stock.

Wall Street Analyst Weigh In

SAFE has been the subject of a number of recent analyst reports. Raymond James raised 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. Wedbush reaffirmed a “neutral” rating and set a $23.00 price target (down previously from $25.00) on shares of Safehold in a report on Monday, November 4th. JMP Securities reiterated a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a report on Tuesday, October 29th. Mizuho increased their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Royal Bank of Canada lifted their target price on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $28.22.

Safehold Price Performance

NYSE:SAFE opened at $18.48 on Wednesday. Safehold Inc. has a 52 week low of $17.91 and a 52 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 $20.71 and its 200 day simple moving average is $22.35. The firm has a market cap of $1.32 billion, a price-to-earnings ratio of 10.87 and a beta of 1.66.

Safehold (NYSE:SAFE) last announced its earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates 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 analyst estimates of $89.45 million. During the same quarter in the prior year, the business posted $0.33 EPS. The business’s revenue was up 6.0% compared to the same quarter last year. As a group, sell-side analysts predict that Safehold Inc. will post 1.56 earnings per share for the current year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th will be issued a $0.177 dividend. The ex-dividend date of this dividend is Monday, December 30th. This represents a $0.71 annualized dividend and a yield of 3.83%. Safehold’s dividend payout ratio 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.