NewEdge Wealth LLC Sells 170,714 Shares of Safehold Inc. (NYSE:SAFE)

NewEdge Wealth LLC cut its position in Safehold Inc. (NYSE:SAFE) by 6.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 2,343,360 shares of the company’s stock after selling 170,714 shares during the period. Safehold comprises about 0.8% of NewEdge Wealth LLC’s portfolio, making the stock its 27th largest position. NewEdge Wealth LLC owned approximately 3.28% of Safehold worth $43,305,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allspring Global Investments Holdings LLC bought a new position in shares of Safehold during the 3rd quarter valued at about $335,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Safehold by 35.4% in the third 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 in the last quarter. abrdn plc acquired a new position in shares of Safehold in the third quarter valued at approximately $271,000. First Trust Direct Indexing L.P. bought a new stake in shares of Safehold during the third quarter worth $234,000. Finally, Angeles Wealth Management LLC raised its holdings in shares of Safehold by 77.5% during the third quarter. Angeles Wealth Management LLC now owns 53,817 shares of the company’s stock worth $1,412,000 after acquiring an additional 23,498 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Price Performance

Shares of SAFE opened at $17.97 on Thursday. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 12.14 and a beta of 1.66. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82. The company’s fifty day simple moving average is $17.32 and its 200 day simple moving average is $21.25. Safehold Inc. has a 1-year low of $15.55 and a 1-year high of $28.80.

Safehold (NYSE:SAFE) last issued its earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same period in the previous year, the business posted $0.36 EPS. On average, research analysts forecast that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a $0.177 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.94%. Safehold’s payout ratio is 47.30%.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Royal Bank of Canada upped their target price on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. The Goldman Sachs Group reduced their price objective on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Thursday, February 6th. Wedbush reaffirmed a “neutral” rating and set a $19.00 price target (down previously from $20.00) on shares of Safehold in a research report on Friday, February 7th. Finally, Morgan Stanley downgraded shares of Safehold from an “overweight” rating to an “equal weight” rating and lowered their price objective for the company from $30.00 to $19.00 in a report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $25.56.

Safehold 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.