Safehold Inc. (NYSE:SAFE) Position Reduced by Principal Financial Group Inc.

Principal Financial Group Inc. reduced its position in shares of Safehold Inc. (NYSE:SAFE) by 3.0% in the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 215,957 shares of the company’s stock after selling 6,705 shares during the quarter. Principal Financial Group Inc. owned about 0.30% of Safehold worth $5,665,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in Safehold by 7.9% during the second quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock worth $9,080,000 after acquiring an additional 34,404 shares during the period. Rhumbline Advisers raised its holdings in shares of Safehold by 4.1% in the 2nd quarter. Rhumbline Advisers now owns 167,142 shares of the company’s stock worth $3,224,000 after purchasing an additional 6,656 shares in the last quarter. Quest Partners LLC acquired a new stake in Safehold during the second quarter valued at approximately $225,000. Angeles Wealth Management LLC acquired a new stake in Safehold during the second quarter valued at approximately $585,000. Finally, Dimensional Fund Advisors LP acquired a new position in Safehold in the second quarter worth approximately $333,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Stock Up 0.8 %

Safehold stock opened at $18.48 on Thursday. The firm’s 50 day moving average price is $20.61 and its two-hundred day moving average price is $22.32. The firm has a market cap of $1.32 billion, a PE ratio of 10.87 and a beta of 1.66. Safehold Inc. has a twelve month low of $17.91 and a twelve month 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.

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 business had revenue of $90.70 million during the quarter, compared to analyst estimates of $89.45 million. During the same period last year, the company earned $0.33 earnings per share. Safehold’s quarterly revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that Safehold Inc. will post 1.56 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Monday, December 30th will be paid a $0.177 dividend. The ex-dividend date is Monday, December 30th. This represents a $0.71 annualized dividend and a dividend yield of 3.83%. Safehold’s payout ratio is 41.18%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on SAFE. Royal Bank of Canada increased 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. Wedbush reiterated a “neutral” rating and issued a $23.00 price target (down previously from $25.00) on shares of Safehold in a research report on Monday, November 4th. JMP Securities restated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a report on Tuesday, October 29th. The Goldman Sachs Group decreased their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 1st. Finally, Mizuho boosted their price target on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Four investment 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $28.22.

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.