Van ECK Associates Corp Sells 717 Shares of Safehold Inc. (NYSE:SAFE)

Van ECK Associates Corp lowered its stake in shares of Safehold Inc. (NYSE:SAFEGet Rating) by 36.4% during the third quarter, Holdings Channel.com reports. The firm owned 1,252 shares of the company’s stock after selling 717 shares during the quarter. Van ECK Associates Corp’s holdings in Safehold were worth $33,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in SAFE. FMR LLC raised its stake in Safehold by 17.8% in the second quarter. FMR LLC now owns 1,643 shares of the company’s stock valued at $58,000 after buying an additional 248 shares during the last quarter. First Manhattan Co. purchased a new stake in Safehold in the first quarter valued at about $81,000. Mutual of America Capital Management LLC raised its stake in Safehold by 27.6% in the second quarter. Mutual of America Capital Management LLC now owns 2,600 shares of the company’s stock valued at $92,000 after buying an additional 563 shares during the last quarter. Point72 Hong Kong Ltd raised its stake in shares of Safehold by 17.5% in the first quarter. Point72 Hong Kong Ltd now owns 2,953 shares of the company’s stock worth $164,000 after purchasing an additional 440 shares during the last quarter. Finally, Quantbot Technologies LP raised its stake in shares of Safehold by 725.0% in the first quarter. Quantbot Technologies LP now owns 3,300 shares of the company’s stock worth $182,000 after purchasing an additional 2,900 shares during the last quarter. Institutional investors own 25.61% of the company’s stock.

Safehold Trading Up 1.1 %

Shares of SAFE stock opened at $33.19 on Friday. The stock has a 50 day moving average of $30.07 and a 200 day moving average of $33.46. The stock has a market cap of $2.06 billion, a P/E ratio of 14.82 and a beta of 0.55. Safehold Inc. has a twelve month low of $23.65 and a twelve month high of $67.35.

Safehold (NYSE:SAFEGet Rating) last announced its quarterly earnings results on Tuesday, November 1st. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.01. The company had revenue of $71.70 million during the quarter, compared to analysts’ expectations of $69.57 million. Safehold had a return on equity of 4.80% and a net margin of 54.19%. On average, research analysts predict that Safehold Inc. will post 1.59 earnings per share for the current fiscal year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 13th. Shareholders of record on Friday, December 30th were issued a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 2.13%. The ex-dividend date of this dividend was Thursday, December 29th. Safehold’s payout ratio is currently 31.70%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Truist Financial reduced their price objective on Safehold from $46.00 to $33.00 and set a “hold” rating for the company in a research note on Friday, December 2nd. Sumitomo Mitsui Financial Group cut Safehold from an “outperform” rating to a “neutral” rating and set a $33.00 price objective for the company. in a research note on Friday, September 23rd. Two investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $55.50.

Safehold Company Profile

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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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

See Also

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Institutional Ownership by Quarter for Safehold (NYSE:SAFE)

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