JPMorgan Chase & Co. Purchases 279,664 Shares of Safehold Inc. $SAFE

JPMorgan Chase & Co. grew its position in Safehold Inc. (NYSE:SAFE) by 24.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,411,158 shares of the company’s stock after purchasing an additional 279,664 shares during the period. JPMorgan Chase & Co.’s holdings in Safehold were worth $21,859,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the company. Hantz Financial Services Inc. lifted its position in shares of Safehold by 39.9% during the third quarter. Hantz Financial Services Inc. now owns 2,604 shares of the company’s stock valued at $40,000 after purchasing an additional 743 shares in the last quarter. Russell Investments Group Ltd. grew its position in Safehold by 115.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,344 shares of the company’s stock worth $52,000 after purchasing an additional 1,789 shares in the last quarter. Advisory Services Network LLC bought a new stake in Safehold in the 3rd quarter worth about $57,000. Versant Capital Management Inc increased its stake in Safehold by 179.1% in the 3rd quarter. Versant Capital Management Inc now owns 4,225 shares of the company’s stock valued at $65,000 after buying an additional 2,711 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in Safehold by 98.1% in the 2nd quarter. Tower Research Capital LLC TRC now owns 4,832 shares of the company’s stock valued at $75,000 after buying an additional 2,393 shares during the last quarter. 70.38% of the stock is owned by institutional investors.

Safehold Trading Down 1.9%

Shares of Safehold stock opened at $13.92 on Wednesday. Safehold Inc. has a 52-week low of $12.76 and a 52-week high of $19.21. The stock’s 50-day simple moving average is $15.02 and its 200 day simple moving average is $14.73. The stock has a market capitalization of $998.97 million, a P/E ratio of 8.70, a P/E/G ratio of 1.92 and a beta of 1.80. The company has a debt-to-equity ratio of 1.88, a quick ratio of 34.97 and a current ratio of 34.97.

Safehold (NYSE:SAFE) last issued its earnings results on Wednesday, February 11th. The company reported $0.42 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.42. The firm had revenue of $97.87 million during the quarter, compared to analyst estimates of $96.71 million. Safehold had a net margin of 29.69% and a return on equity of 4.92%. As a group, research analysts anticipate that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be issued a $0.177 dividend. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.71 annualized dividend and a yield of 5.1%. Safehold’s dividend payout ratio (DPR) is 44.38%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on SAFE shares. Truist Financial boosted their target price on Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Royal Bank Of Canada increased their price target on Safehold from $17.00 to $18.00 and gave the company an “outperform” rating in a research report on Friday, February 20th. Mizuho lifted their price target on Safehold from $15.00 to $16.00 and gave the stock a “neutral” rating in a report on Wednesday, March 11th. Weiss Ratings reissued a “hold (c-)” rating on shares of Safehold in a research report on Thursday, January 22nd. Finally, Zacks Research upgraded Safehold from a “hold” rating to a “strong-buy” rating in a research note on Monday, January 26th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, six have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $19.33.

Safehold Company Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.