Sumitomo Mitsui Trust Group Inc. Has $915,000 Stake in Safehold Inc. (NYSE:SAFE)

Sumitomo Mitsui Trust Group Inc. decreased its holdings in Safehold Inc. (NYSE:SAFE) by 3.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 49,493 shares of the company’s stock after selling 1,697 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.07% of Safehold worth $915,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. abrdn plc grew its stake in shares of Safehold by 30.6% in the 4th quarter. abrdn plc now owns 13,505 shares of the company’s stock valued at $248,000 after buying an additional 3,166 shares in the last quarter. SG Americas Securities LLC boosted its position in Safehold by 265.4% during the fourth quarter. SG Americas Securities LLC now owns 24,071 shares of the company’s stock worth $445,000 after purchasing an additional 17,484 shares during the period. JPMorgan Chase & Co. boosted its position in Safehold by 16.1% during the third quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company’s stock worth $17,369,000 after purchasing an additional 91,965 shares during the period. Franklin Resources Inc. boosted its position in Safehold by 17.5% during the third quarter. Franklin Resources Inc. now owns 16,631 shares of the company’s stock worth $407,000 after purchasing an additional 2,472 shares during the period. Finally, Tidal Investments LLC bought a new stake in Safehold during the third quarter worth approximately $370,000. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Trading Down 2.9 %

NYSE SAFE opened at $17.00 on Friday. The firm has a market cap of $1.21 billion, a P/E ratio of 11.49 and a beta of 1.66. The company has a debt-to-equity ratio of 1.82, a current ratio of 37.37 and a quick ratio of 37.83. The stock’s 50-day moving average is $17.86 and its 200-day moving average is $21.58. Safehold Inc. has a one year low of $15.55 and a one year high of $28.80.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same quarter last year, the company earned $0.36 EPS. Sell-side analysts anticipate that Safehold Inc. will post 1.59 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a $0.177 dividend. The ex-dividend date was Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.16%. Safehold’s dividend payout ratio is 47.30%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on SAFE shares. Royal Bank of Canada upped their price target on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a report on Wednesday, October 30th. JMP Securities reiterated a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Thursday, February 6th. The Goldman Sachs Group cut their target price on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Wedbush restated a “neutral” rating and issued a $19.00 target price (down from $20.00) on shares of Safehold in a research note on Friday, February 7th. Finally, Morgan Stanley lowered Safehold from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. Five analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $25.56.

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.