Harbour Capital Advisors LLC Acquires New Stake in Safehold Inc. (NYSE:SAFE)

Harbour Capital Advisors LLC acquired a new stake in Safehold Inc. (NYSE:SAFE) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 15,100 shares of the company’s stock, valued at approximately $370,000.

A number of other institutional investors and hedge funds have also bought and sold shares of SAFE. GAMMA Investing LLC grew its holdings in Safehold by 49.3% during the 1st quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock worth $44,000 after acquiring an additional 702 shares during the period. Roble Belko & Company Inc bought a new position in Safehold in the 1st quarter valued at about $45,000. PNC Financial Services Group Inc. lifted its position in Safehold by 65.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock valued at $175,000 after acquiring an additional 2,965 shares in the last quarter. ProShare Advisors LLC boosted its stake in shares of Safehold by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after buying an additional 676 shares during the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new position in shares of Safehold in the 2nd quarter worth approximately $204,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

SAFE has been the topic of a number of analyst reports. Wedbush boosted their target price on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday, July 31st. Truist Financial upped their price target on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. The Goldman Sachs Group upped their target price on shares of Safehold from $25.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Thursday, September 19th. Four investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, Safehold presently has an average rating of “Moderate Buy” and an average target price of $28.56.

Safehold Trading Up 0.1 %

NYSE:SAFE opened at $24.60 on Friday. Safehold Inc. has a 52 week low of $15.00 and a 52 week high of $28.80. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76. The company’s 50 day moving average price is $25.16 and its 200-day moving average price is $21.71. The stock has a market cap of $1.76 billion, a price-to-earnings ratio of -54.47 and a beta of 1.66.

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

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a $0.177 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 2.88%. Safehold’s dividend payout ratio (DPR) is presently -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.