Norges Bank Invests $2.55 Million in Safehold Inc. (NYSE:SAFE)

Norges Bank bought a new position in shares of Safehold Inc. (NYSE:SAFE) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 138,110 shares of the company’s stock, valued at approximately $2,552,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. JPMorgan Chase & Co. grew its stake in shares of Safehold by 58.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,051,078 shares of the company’s stock worth $19,424,000 after purchasing an additional 388,899 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in Safehold by 1,683.3% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 227,750 shares of the company’s stock worth $4,209,000 after buying an additional 214,979 shares during the last quarter. B&I Capital AG boosted its position in shares of Safehold by 75.3% during the 4th quarter. B&I Capital AG now owns 417,503 shares of the company’s stock worth $7,715,000 after acquiring an additional 179,376 shares in the last quarter. American Century Companies Inc. boosted its position in shares of Safehold by 11.1% during the 4th quarter. American Century Companies Inc. now owns 1,515,743 shares of the company’s stock worth $28,011,000 after acquiring an additional 150,976 shares in the last quarter. Finally, Edgestream Partners L.P. purchased a new position in shares of Safehold in the 4th quarter valued at about $2,217,000. 70.38% of the stock is owned by institutional investors and hedge funds.

Safehold Trading Down 6.5 %

NYSE SAFE opened at $14.12 on Friday. The firm’s fifty day moving average is $17.66 and its two-hundred day moving average is $19.53. Safehold Inc. has a one year low of $13.68 and a one year high of $28.80. The company has a debt-to-equity ratio of 1.82, a quick ratio of 36.59 and a current ratio of 36.59. The firm has a market cap of $1.01 billion, a PE ratio of 9.54 and a beta of 1.63.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same period in the previous year, the firm posted $0.36 EPS. Analysts expect that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Monday, March 31st will be issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 5.02%. The ex-dividend date of this dividend is Monday, March 31st. Safehold’s payout ratio is currently 47.30%.

Wall Street Analysts Forecast Growth

SAFE has been the subject of several recent analyst reports. Morgan Stanley cut Safehold from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. The Goldman Sachs Group lowered their target price on shares of Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a report on Tuesday, January 7th. Mizuho cut their price target on shares of Safehold from $25.00 to $19.00 and set a “neutral” rating on the stock in a research note on Thursday, April 3rd. JMP Securities restated a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a research note on Thursday, February 6th. Finally, Wedbush reiterated a “neutral” rating and set a $20.00 target price on shares of Safehold in a research report on Monday, March 31st. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Safehold currently has an average rating of “Hold” and a consensus target price of $25.00.

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.