Safehold Inc. (NYSE:SAFE) Shares Acquired by Vestcor Inc

Vestcor Inc increased its stake in Safehold Inc. (NYSE:SAFE) by 902.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 42,174 shares of the company’s stock after acquiring an additional 37,966 shares during the period. Vestcor Inc owned approximately 0.06% of Safehold worth $779,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of SAFE. Rhumbline Advisers raised its stake in shares of Safehold by 0.4% in the 4th quarter. Rhumbline Advisers now owns 163,179 shares of the company’s stock valued at $3,016,000 after acquiring an additional 663 shares during the period. Daiwa Securities Group Inc. increased its holdings in Safehold by 5.8% in the 3rd quarter. Daiwa Securities Group Inc. now owns 14,893 shares of the company’s stock valued at $391,000 after purchasing an additional 823 shares in the last quarter. M&T Bank Corp raised its position in Safehold by 3.4% in the fourth quarter. M&T Bank Corp now owns 27,520 shares of the company’s stock valued at $509,000 after purchasing an additional 899 shares during the period. Smartleaf Asset Management LLC lifted its stake in shares of Safehold by 268.4% during the fourth quarter. Smartleaf Asset Management LLC now owns 1,400 shares of the company’s stock worth $26,000 after purchasing an additional 1,020 shares in the last quarter. Finally, FMR LLC boosted its position in shares of Safehold by 24.9% in the third quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after buying an additional 1,163 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Safehold Trading Up 2.0 %

Shares of SAFE opened at $18.93 on Monday. The company has a market capitalization of $1.35 billion, a P/E ratio of 12.79 and a beta of 1.75. Safehold Inc. has a one year low of $15.55 and a one year high of $28.80. The company has a debt-to-equity ratio of 1.82, a quick ratio of 36.59 and a current ratio of 36.59. The stock has a 50-day moving average price of $17.28 and a 200 day moving average price of $20.76.

Safehold (NYSE:SAFE) last released its earnings results on Wednesday, February 5th. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same quarter in the prior year, the firm posted $0.36 EPS. Sell-side analysts forecast that Safehold Inc. will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Monday, March 31st. Safehold’s dividend payout ratio is presently 47.30%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on SAFE shares. Morgan Stanley downgraded Safehold from an “overweight” rating to an “equal weight” rating and decreased their target price for the stock from $30.00 to $19.00 in a research report on Wednesday, January 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Thursday, February 6th. The Goldman Sachs Group decreased their target price on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $19.00 target price (down previously from $20.00) on shares of Safehold in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, Safehold currently has an average rating of “Hold” and an average price target 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.