GAMMA Investing LLC Invests $33,000 in Safehold Inc. (NYSE:SAFE)

GAMMA Investing LLC bought a new position in Safehold Inc. (NYSE:SAFE) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,424 shares of the company’s stock, valued at approximately $33,000.

Several other institutional investors and hedge funds have also modified their holdings of SAFE. Fifth Third Bancorp boosted its holdings in shares of Safehold by 1,240.4% in the 3rd quarter. Fifth Third Bancorp now owns 1,394 shares of the company’s stock worth $25,000 after acquiring an additional 1,290 shares in the last quarter. Versant Capital Management Inc boosted its holdings in shares of Safehold by 197.7% in the 4th quarter. Versant Capital Management Inc now owns 1,402 shares of the company’s stock worth $33,000 after acquiring an additional 931 shares in the last quarter. PNC Financial Services Group Inc. raised its position in Safehold by 195.8% in the 3rd quarter. PNC Financial Services Group Inc. now owns 4,523 shares of the company’s stock worth $81,000 after purchasing an additional 2,994 shares during the last quarter. DekaBank Deutsche Girozentrale lifted its holdings in Safehold by 22.2% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 9,367 shares of the company’s stock worth $164,000 after buying an additional 1,700 shares in the last quarter. Finally, abrdn plc bought a new position in Safehold in the 4th quarter valued at $211,000. 70.38% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have recently issued reports on SAFE. Mizuho cut their price target on Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. The Goldman Sachs Group lifted their price target on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. JMP Securities initiated coverage on shares of Safehold in a report on Tuesday, January 23rd. They issued an “outperform” rating and a $35.00 price objective on the stock. Royal Bank of Canada lowered their target price on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating for the company in a report on Thursday, February 15th. Finally, JPMorgan Chase & Co. cut their price target on Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Three investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $27.78.

Safehold Price Performance

Shares of SAFE stock opened at $19.09 on Monday. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78. Safehold Inc. has a 12-month low of $15.00 and a 12-month high of $29.11. The firm has a fifty day moving average of $19.70 and a 200-day moving average of $20.04. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of -23.57 and a beta of 1.48.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. The firm had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $84.89 million. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The company’s revenue was up 40.3% on a year-over-year basis. During the same period in the previous year, the firm earned ($6.00) earnings per share. On average, equities research analysts forecast that Safehold Inc. will post 1.53 earnings per share for the current year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.177 per share. The ex-dividend date was Wednesday, March 27th. This represents a $0.71 annualized dividend and a yield of 3.71%. Safehold’s dividend payout ratio (DPR) is currently -87.65%.

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.