Royal Bank of Canada raised its holdings in Safehold Inc. (NYSE:SAFE – Free Report) by 121.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 90,756 shares of the company’s stock after acquiring an additional 49,736 shares during the quarter. Royal Bank of Canada’s holdings in Safehold were worth $1,228,000 as of its most recent SEC filing.
A number of other large investors also recently modified their holdings of SAFE. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in shares of Safehold in the fourth quarter valued at about $31,000. Russell Investments Group Ltd. grew its position in shares of Safehold by 115.0% in the 2nd quarter. Russell Investments Group Ltd. now owns 3,344 shares of the company’s stock valued at $52,000 after acquiring an additional 1,789 shares during the period. Advisory Services Network LLC acquired a new position in Safehold during the third quarter worth approximately $57,000. Federation des caisses Desjardins du Quebec increased its holdings in shares of Safehold by 25.8% during the 4th quarter. Federation des caisses Desjardins du Quebec now owns 4,429 shares of the company’s stock worth $61,000 after acquiring an additional 908 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its position in shares of Safehold by 98.1% in the second quarter. Tower Research Capital LLC TRC now owns 4,832 shares of the company’s stock valued at $75,000 after purchasing an additional 2,393 shares during the period. 70.38% of the stock is currently owned by institutional investors and hedge funds.
Safehold Price Performance
Shares of Safehold stock opened at $15.39 on Friday. Safehold Inc. has a twelve month low of $12.76 and a twelve month high of $17.45. The company has a quick ratio of 34.36, a current ratio of 34.37 and a debt-to-equity ratio of 1.77. The company has a 50-day simple moving average of $15.97 and a two-hundred day simple moving average of $15.35. The stock has a market capitalization of $1.09 billion, a price-to-earnings ratio of 9.50, a price-to-earnings-growth ratio of 4.53 and a beta of 1.75.
Safehold Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 4.6%. The ex-dividend date was Tuesday, June 30th. Safehold’s payout ratio is 43.83%.
Analyst Ratings Changes
Several brokerages recently commented on SAFE. The Goldman Sachs Group reduced their target price on shares of Safehold from $27.00 to $23.00 and set a “buy” rating for the company in a report on Friday, May 15th. Cantor Fitzgerald restated a “neutral” rating on shares of Safehold in a research report on Tuesday, August 4th. Raymond James Financial started coverage on Safehold in a report on Wednesday. They set a “market perform” rating for the company. Zacks Research upgraded Safehold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Finally, Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating, seven have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average price target of $17.17.
Read Our Latest Research Report on Safehold
About Safehold
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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