Summit Global Investments Purchases New Position in Safehold Inc. $SAFE

Summit Global Investments acquired a new position in shares of Safehold Inc. (NYSE:SAFE) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 21,228 shares of the company’s stock, valued at approximately $330,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in SAFE. 1832 Asset Management L.P. purchased a new position in shares of Safehold in the 1st quarter worth approximately $6,552,000. Point72 Europe London LLP bought a new stake in Safehold in the first quarter worth $6,201,000. Nuveen LLC bought a new stake in Safehold in the first quarter worth $4,086,000. HGI Capital Management LLC purchased a new position in Safehold during the first quarter worth $3,683,000. Finally, JPMorgan Chase & Co. boosted its stake in Safehold by 19.2% during the second quarter. JPMorgan Chase & Co. now owns 1,131,494 shares of the company’s stock worth $17,606,000 after buying an additional 182,006 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Safehold Stock Up 0.3%

Shares of NYSE SAFE opened at $14.06 on Thursday. Safehold Inc. has a 52-week low of $12.76 and a 52-week high of $21.90. The firm has a market capitalization of $1.01 billion, a price-to-earnings ratio of 9.83, a PEG ratio of 1.31 and a beta of 1.87. The stock has a 50 day moving average price of $14.76 and a 200 day moving average price of $15.15. The company has a debt-to-equity ratio of 1.85, a quick ratio of 36.02 and a current ratio of 36.02.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Tuesday, May 3rd. The company reported $0.30 EPS for the quarter. Safehold had a return on equity of 4.70% and a net margin of 27.45%.The company had revenue of $50.20 million for the quarter. Sell-side analysts expect that Safehold Inc. will post 1.58 earnings per share for the current year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 15th. Investors of record on Tuesday, September 30th were paid a $0.177 dividend. The ex-dividend date of this dividend was Tuesday, September 30th. This represents a $0.71 dividend on an annualized basis and a yield of 5.0%. Safehold’s dividend payout ratio is 44.59%.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on SAFE. Cantor Fitzgerald set a $17.00 target price on shares of Safehold and gave the company a “neutral” rating in a research note on Wednesday, October 1st. Royal Bank Of Canada decreased their price objective on shares of Safehold from $20.00 to $17.00 and set an “outperform” rating for the company in a research note on Thursday, November 6th. Truist Financial dropped their target price on Safehold from $18.00 to $16.00 and set a “hold” rating for the company in a research report on Thursday, September 11th. Mizuho increased their price target on Safehold from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, September 11th. Finally, JMP Securities decreased their price target on Safehold from $32.00 to $28.00 and set a “market outperform” rating for the company in a research note on Tuesday, August 12th. Three investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Safehold presently has a consensus rating of “Hold” and a consensus price target of $19.56.

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.