Louisiana State Employees Retirement System Sells 500 Shares of Safehold Inc. (NYSE:SAFE)

Louisiana State Employees Retirement System trimmed its position in Safehold Inc. (NYSE:SAFE) by 2.2% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 22,100 shares of the company’s stock after selling 500 shares during the quarter. Louisiana State Employees Retirement System’s holdings in Safehold were worth $580,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of SAFE. Daiwa Securities Group Inc. raised its holdings in Safehold by 7.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock valued at $298,000 after acquiring an additional 949 shares during the period. SG Americas Securities LLC bought a new position in Safehold in the 1st quarter valued at about $1,979,000. Illinois Municipal Retirement Fund raised its holdings in Safehold by 4.7% in the 1st quarter. Illinois Municipal Retirement Fund now owns 25,658 shares of the company’s stock valued at $529,000 after acquiring an additional 1,156 shares during the period. Sei Investments Co. raised its holdings in Safehold by 62.4% in the 1st 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 period. Finally, Russell Investments Group Ltd. raised its holdings in Safehold by 6.0% in the 1st quarter. Russell Investments Group Ltd. now owns 190,667 shares of the company’s stock valued at $3,928,000 after acquiring an additional 10,787 shares during the period. 70.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

SAFE has been the topic of a number of analyst reports. The Goldman Sachs Group decreased their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a research report on Friday, November 1st. JMP Securities restated a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research report on Tuesday, October 29th. Truist Financial increased their target price on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Wedbush restated a “neutral” rating and set a $23.00 target price (down previously from $25.00) on shares of Safehold in a research report on Monday. Finally, Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $28.22.

Safehold Stock Performance

Shares of NYSE:SAFE opened at $20.67 on Wednesday. The company’s 50 day simple moving average is $24.88 and its 200 day simple moving average is $22.03. The stock has a market capitalization of $1.48 billion, a price-to-earnings ratio of 12.16 and a beta of 1.68. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. Safehold Inc. has a 1 year low of $16.27 and a 1 year high of $28.80.

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, meeting analysts’ consensus estimates of $0.37. The business had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $0.33 earnings per share. As a group, research analysts predict that Safehold Inc. will post 1.57 EPS for the current fiscal year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were paid a dividend of $0.177 per share. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.43%. Safehold’s payout ratio is presently 41.18%.

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.