Safehold Inc. (NYSE:SAFE) Major Shareholder Istar Inc. Acquires 13,698 Shares

Safehold Inc. (NYSE:SAFE) major shareholder Istar Inc. acquired 13,698 shares of the firm’s stock in a transaction dated Monday, June 7th. The shares were purchased at an average cost of $73.00 per share, for a total transaction of $999,954.00. Following the completion of the acquisition, the insider now directly owns 35,161,662 shares in the company, valued at $2,566,801,326. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Major shareholders that own more than 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Wednesday, June 9th, Istar Inc. acquired 13,519 shares of Safehold stock. The shares were purchased at an average cost of $73.97 per share, for a total transaction of $1,000,000.43.
  • On Thursday, June 3rd, Istar Inc. acquired 14,087 shares of Safehold stock. The shares were purchased at an average cost of $70.98 per share, for a total transaction of $999,895.26.
  • On Tuesday, June 1st, Istar Inc. bought 14,071 shares of Safehold stock. The shares were bought at an average cost of $71.06 per share, for a total transaction of $999,885.26.
  • On Friday, May 28th, Istar Inc. bought 14,253 shares of Safehold stock. The shares were bought at an average cost of $70.16 per share, for a total transaction of $999,990.48.
  • On Wednesday, May 26th, Istar Inc. bought 13,997 shares of Safehold stock. The shares were bought at an average cost of $71.44 per share, for a total transaction of $999,945.68.
  • On Monday, May 24th, Istar Inc. bought 14,082 shares of Safehold stock. The shares were bought at an average cost of $71.01 per share, for a total transaction of $999,962.82.

Shares of Safehold stock opened at $76.30 on Friday. The firm has a fifty day simple moving average of $70.04. The company has a market cap of $4.06 billion, a P/E ratio of 67.52 and a beta of -0.48. Safehold Inc. has a 52 week low of $47.51 and a 52 week high of $84.99.

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

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

Several institutional investors and hedge funds have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Safehold by 4.5% during the 1st quarter. BlackRock Inc. now owns 2,687,384 shares of the company’s stock worth $188,387,000 after buying an additional 115,241 shares in the last quarter. UBS Group AG grew its position in shares of Safehold by 1.0% during the 1st quarter. UBS Group AG now owns 2,281,016 shares of the company’s stock worth $159,899,000 after buying an additional 22,675 shares in the last quarter. Alliancebernstein L.P. grew its position in shares of Safehold by 29.8% during the 1st quarter. Alliancebernstein L.P. now owns 851,266 shares of the company’s stock worth $59,674,000 after buying an additional 195,376 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Safehold by 9.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 657,887 shares of the company’s stock worth $46,118,000 after buying an additional 55,809 shares in the last quarter. Finally, Uniplan Investment Counsel Inc. grew its position in shares of Safehold by 22.0% during the 4th quarter. Uniplan Investment Counsel Inc. now owns 554,935 shares of the company’s stock worth $40,227,000 after buying an additional 100,032 shares in the last quarter. 28.23% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts have recently weighed in on the company. Mizuho boosted their target price on Safehold from $75.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, February 12th. Zacks Investment Research downgraded Safehold from a “buy” rating to a “hold” rating in a research report 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 report on Wednesday, March 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the stock. Safehold currently has an average rating of “Buy” and an average target price of $81.60.

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.

Further Reading: Fiduciary

Insider Buying and Selling by Quarter for Safehold (NYSE:SAFE)

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