Texas Permanent School Fund Corp Has $556,000 Holdings in Safehold Inc. (NYSE:SAFE)

Texas Permanent School Fund Corp trimmed its position in shares of Safehold Inc. (NYSE:SAFE) by 26.0% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 28,824 shares of the company’s stock after selling 10,146 shares during the period. Texas Permanent School Fund Corp’s holdings in Safehold were worth $556,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the company. UBS Group AG increased its stake in shares of Safehold by 1,002.8% in the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock valued at $51,625,000 after purchasing an additional 2,006,133 shares during the last quarter. Peregrine Capital Management LLC acquired a new stake in Safehold in the first quarter valued at about $7,227,000. Sei Investments Co. grew its position in Safehold by 62.4% in the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock valued at $13,381,000 after acquiring an additional 249,500 shares during the last quarter. Heitman Real Estate Securities LLC bought a new position in Safehold in the fourth quarter valued at about $5,005,000. Finally, Edgestream Partners L.P. acquired a new position in Safehold during the first quarter worth about $4,400,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Safehold Stock Down 2.0 %

Safehold stock opened at $26.95 on Friday. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76. The company has a market capitalization of $1.93 billion, a PE ratio of -59.89 and a beta of 1.65. The firm’s fifty day moving average is $24.06 and its 200 day moving average is $21.05. Safehold Inc. has a 12-month low of $15.00 and a 12-month high of $28.80.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The business had revenue of $89.90 million for the quarter, compared to the consensus estimate of $87.28 million. During the same period in the prior year, the business earned $0.35 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. As a group, sell-side analysts predict that Safehold Inc. will post 1.59 EPS for the current fiscal year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th will be given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 2.63%. The ex-dividend date of this dividend is Monday, September 30th. Safehold’s payout ratio is presently -155.56%.

Analyst Ratings Changes

Several brokerages have recently issued reports on SAFE. Wedbush upped their price target on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Truist Financial boosted their price objective on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. The Goldman Sachs Group increased their target price on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday. Finally, Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Thursday. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. Based on data from MarketBeat, Safehold currently has an average rating of “Moderate Buy” and a consensus price target of $28.56.

About Safehold

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.