Insider Buying: Safehold Inc. (NYSE:SAFE) Major Shareholder Buys 13,519 Shares of Stock

Safehold Inc. (NYSE:SAFE) major shareholder Istar Inc. acquired 13,519 shares of the firm’s stock in a transaction on Wednesday, June 9th. The shares were bought at an average price of $73.97 per share, for a total transaction of $1,000,000.43. Following the completion of the transaction, the insider now owns 35,161,662 shares of the company’s stock, valued at $2,600,908,138.14. The transaction was disclosed in a document filed with the SEC, which is available at this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

Istar Inc. also recently made the following trade(s):

  • On Monday, June 7th, Istar Inc. acquired 13,698 shares of Safehold stock. The shares were bought at an average price of $73.00 per share, for a total transaction of $999,954.00.
  • On Thursday, June 3rd, Istar Inc. acquired 14,087 shares of Safehold stock. The shares were bought at an average price of $70.98 per share, for a total transaction of $999,895.26.
  • On Tuesday, June 1st, Istar Inc. acquired 14,071 shares of Safehold stock. The shares were bought at an average price of $71.06 per share, for a total transaction of $999,885.26.
  • On Friday, May 28th, Istar Inc. acquired 14,253 shares of Safehold stock. The shares were bought at an average price of $70.16 per share, for a total transaction of $999,990.48.
  • On Wednesday, May 26th, Istar Inc. acquired 13,997 shares of Safehold stock. The shares were bought at an average price of $71.44 per share, for a total transaction of $999,945.68.
  • On Monday, May 24th, Istar Inc. acquired 14,082 shares of Safehold stock. The shares were bought at an average price of $71.01 per share, for a total transaction of $999,962.82.

NYSE:SAFE traded up $2.26 during midday trading on Thursday, hitting $76.30. The stock had a trading volume of 86,731 shares, compared to its average volume of 114,649. Safehold Inc. has a one year low of $47.51 and a one year high of $84.99. The stock has a market capitalization of $4.06 billion, a P/E ratio of 67.52 and a beta of -0.48. The company’s 50-day simple moving average is $69.93.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Thursday, April 22nd. The company reported $0.32 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.32. Safehold had a return on equity of 4.47% and a net margin of 37.11%. The company had revenue of $43.50 million for the quarter, compared to analysts’ expectations of $43.10 million. Analysts expect that Safehold Inc. will post 1.42 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were paid a $0.1623 dividend. The ex-dividend date of this dividend was Tuesday, March 30th. This represents a $0.65 annualized dividend and a yield of 0.85%. Safehold’s dividend payout ratio (DPR) is currently 55.56%.

SAFE has been the topic of a number of analyst reports. Mizuho upped their target price on Safehold from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 12th. Zacks Investment Research cut Safehold from a “buy” rating to a “hold” rating in a research note on Thursday, May 6th. Finally, The Goldman Sachs Group cut their target price on Safehold from $112.00 to $95.00 and set a “buy” rating on the stock in a research note on Wednesday, March 31st. One equities research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Safehold currently has a consensus rating of “Buy” and an average target price of $81.60.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Fifth Third Bancorp boosted its position in Safehold by 1.1% during the 1st quarter. Fifth Third Bancorp now owns 14,464 shares of the company’s stock valued at $1,014,000 after acquiring an additional 155 shares in the last quarter. Arizona State Retirement System boosted its position in Safehold by 4.3% during the 1st quarter. Arizona State Retirement System now owns 3,863 shares of the company’s stock valued at $271,000 after acquiring an additional 159 shares in the last quarter. American International Group Inc. boosted its position in Safehold by 1.4% during the 4th quarter. American International Group Inc. now owns 11,777 shares of the company’s stock valued at $854,000 after acquiring an additional 162 shares in the last quarter. Prudential Financial Inc. boosted its position in Safehold by 1.0% during the 1st quarter. Prudential Financial Inc. now owns 16,863 shares of the company’s stock valued at $1,182,000 after acquiring an additional 174 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd boosted its position in Safehold by 69.2% during the 1st quarter. Harvest Fund Management Co. Ltd now owns 467 shares of the company’s stock valued at $32,000 after acquiring an additional 191 shares in the last quarter. 28.23% of the stock is currently owned by institutional investors and hedge funds.

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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

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