NewEdge Wealth LLC decreased its holdings in shares of Safehold Inc. (NYSE:SAFE – Free Report) by 19.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 767,109 shares of the company’s stock after selling 186,089 shares during the period. NewEdge Wealth LLC’s holdings in Safehold were worth $10,379,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Addison Capital Co lifted its holdings in Safehold by 30.2% during the fourth quarter. Addison Capital Co now owns 179,465 shares of the company’s stock valued at $2,457,000 after purchasing an additional 41,600 shares in the last quarter. Denali Advisors LLC bought a new stake in shares of Safehold during the 4th quarter valued at $1,258,000. SG Americas Securities LLC lifted its stake in shares of Safehold by 237.0% during the 1st quarter. SG Americas Securities LLC now owns 279,205 shares of the company’s stock valued at $3,778,000 after buying an additional 196,345 shares in the last quarter. Allstate Corp boosted its holdings in Safehold by 175.7% in the 4th quarter. Allstate Corp now owns 64,736 shares of the company’s stock worth $886,000 after buying an additional 41,252 shares during the period. Finally, Jump Financial LLC bought a new position in Safehold in the 2nd quarter worth $1,037,000. 70.38% of the stock is owned by institutional investors and hedge funds.
Safehold Stock Down 3.5%
NYSE SAFE opened at $16.07 on Friday. The stock has a 50 day moving average price of $15.64 and a 200-day moving average price of $15.17. Safehold Inc. has a one year low of $12.76 and a one year high of $17.45. The company has a debt-to-equity ratio of 1.91, a quick ratio of 35.59 and a current ratio of 35.58. The company has a market capitalization of $1.15 billion, a P/E ratio of 10.11, a P/E/G ratio of 2.13 and a beta of 1.77.
Safehold Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 4.4%. The ex-dividend date was Tuesday, June 30th. Safehold’s dividend payout ratio is currently 44.03%.
Wall Street Analysts Forecast Growth
SAFE has been the topic of a number of recent analyst reports. Royal Bank Of Canada cut Safehold from a “market outperform” rating to a “sector perform” rating and decreased their price target for the company from $18.00 to $16.00 in a report on Friday, May 1st. Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Weiss Ratings reissued a “hold (c-)” rating on shares of Safehold in a research note on Friday, July 17th. The Goldman Sachs Group lowered their price target on Safehold from $27.00 to $23.00 and set a “buy” rating on the stock in a report on Friday, May 15th. Finally, Zacks Research upgraded shares of Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $18.71.
Get Our Latest Research Report on SAFE
Safehold Company Profile
Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.
Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.
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