M&T Bank Corp Decreases Stock Position in Safehold Inc. (NYSE:SAFE)

M&T Bank Corp cut its stake in shares of Safehold Inc. (NYSE:SAFE) by 2.0% in the 3rd quarter, HoldingsChannel reports. The fund owned 26,621 shares of the company’s stock after selling 557 shares during the quarter. M&T Bank Corp’s holdings in Safehold were worth $698,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of SAFE. GAMMA Investing LLC boosted its stake in shares of Safehold by 108.7% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after purchasing an additional 920 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Safehold by 35.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after buying an additional 471 shares during the last quarter. KBC Group NV boosted its position in Safehold by 79.3% during the 3rd quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after buying an additional 1,275 shares during the period. FMR LLC grew its holdings in Safehold by 24.9% in the 3rd quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after acquiring an additional 1,163 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Safehold in the second quarter valued at about $204,000. 70.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research note on Thursday, September 19th. Mizuho lifted their price objective on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wedbush reaffirmed a “neutral” rating and issued a $23.00 price target (down previously from $25.00) on shares of Safehold in a research note on Monday, November 4th. The Goldman Sachs Group reduced their price objective 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. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Tuesday, October 29th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $28.22.

Safehold Trading Up 2.5 %

NYSE:SAFE opened at $20.95 on Tuesday. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The company’s 50-day simple moving average is $21.88 and its 200 day simple moving average is $22.33. Safehold Inc. has a one year low of $17.91 and a one year high of $28.80. The firm has a market capitalization of $1.50 billion, a P/E ratio of 12.32 and a beta of 1.66.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The firm had revenue of $90.70 million during the quarter, compared to analyst estimates of $89.45 million. During the same quarter in the previous year, the firm earned $0.33 EPS. Safehold’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, analysts forecast that Safehold Inc. will post 1.56 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th will be issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.38%. The ex-dividend date is Monday, December 30th. Safehold’s payout ratio is 41.18%.

Safehold Company Profile

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.