State of New Jersey Common Pension Fund D Boosts Stake in Safehold Inc. (NYSE:SAFE)

State of New Jersey Common Pension Fund D grew its stake in shares of Safehold Inc. (NYSE:SAFE) by 10.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 204,132 shares of the company’s stock after buying an additional 20,000 shares during the period. State of New Jersey Common Pension Fund D’s holdings in Safehold were worth $5,354,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. Long Pond Capital LP increased its position in Safehold by 14.9% during the 2nd quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock worth $51,361,000 after purchasing an additional 345,661 shares in the last quarter. Sei Investments Co. boosted its stake in shares of Safehold by 62.4% during the 1st quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after purchasing an additional 249,500 shares during the last quarter. Edgestream Partners L.P. purchased a new stake in shares of Safehold during the first quarter worth about $4,400,000. Vanguard Group Inc. raised its position in shares of Safehold by 1.8% in the first quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock valued at $161,949,000 after buying an additional 141,245 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new position in shares of Safehold during the first quarter valued at approximately $1,979,000. 70.38% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on SAFE. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a research note on Thursday, September 19th. Mizuho raised their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Truist Financial upped their price objective on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, August 5th. JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Tuesday, October 29th. Finally, The Goldman Sachs Group dropped their price target on shares of Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $28.22.

Safehold Trading Up 0.6 %

Shares of SAFE stock opened at $21.33 on Tuesday. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. Safehold Inc. has a fifty-two week low of $16.44 and a fifty-two week high of $28.80. The firm’s 50 day moving average price is $24.46 and its two-hundred day moving average price is $22.10. The stock has a market cap of $1.52 billion, a price-to-earnings ratio of 12.54 and a beta of 1.68.

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

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.177 per share. The ex-dividend date was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.32%. Safehold’s payout ratio is currently 41.76%.

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.