Breakwater Capital Group Grows Stock Holdings in Safehold Inc. (NYSE:SAFE)

Breakwater Capital Group raised its position in shares of Safehold Inc. (NYSE:SAFE) by 14.2% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 12,477 shares of the company’s stock after purchasing an additional 1,550 shares during the period. Breakwater Capital Group’s holdings in Safehold were worth $241,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in SAFE. GAMMA Investing LLC bought a new position in shares of Safehold during the fourth quarter valued at about $33,000. Roble Belko & Company Inc bought a new position in shares of Safehold during the first quarter valued at about $45,000. PNC Financial Services Group Inc. grew its stake in shares of Safehold by 65.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock valued at $175,000 after buying an additional 2,965 shares during the last quarter. ProShare Advisors LLC grew its stake in shares of Safehold by 7.5% during the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after buying an additional 676 shares during the last quarter. Finally, abrdn plc bought a new position in shares of Safehold during the fourth quarter valued at about $211,000. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on SAFE. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Thursday, May 16th. Wedbush raised their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group raised their target price on Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Mizuho cut Safehold from a “buy” rating to a “neutral” rating and cut their target price for the stock from $22.00 to $20.00 in a research note on Friday, May 10th. Finally, Truist Financial raised their target price on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $28.22.

Safehold Stock Down 1.3 %

Safehold stock traded down $0.33 during trading hours on Wednesday, hitting $25.02. 193,088 shares of the stock traded hands, compared to its average volume of 335,506. The firm’s 50-day moving average price is $21.66 and its two-hundred day moving average price is $20.39. The company has a current ratio of 38.83, a quick ratio of 42.51 and a debt-to-equity ratio of 1.76. The company has a market cap of $1.79 billion, a PE ratio of -56.33 and a beta of 1.65. Safehold Inc. has a one year low of $15.00 and a one year high of $26.05.

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

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.177 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.71 dividend on an annualized basis and a yield of 2.83%. Safehold’s payout ratio is currently -155.56%.

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.