Safehold Inc. (NYSE:SAFE) Major Shareholder Istar Inc. Buys 13,519 Shares

Safehold Inc. (NYSE:SAFE) major shareholder Istar Inc. bought 13,519 shares of the business’s stock in a transaction that occurred on Wednesday, June 9th. The stock was purchased at an average cost of $73.97 per share, for a total transaction of $1,000,000.43. Following the completion of the transaction, the insider now directly owns 35,161,662 shares in the company, valued at approximately $2,600,908,138.14. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Major shareholders that own 10% or more 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. bought 13,698 shares of Safehold stock. The stock was purchased at an average cost of $73.00 per share, for a total transaction of $999,954.00.
  • On Thursday, June 3rd, Istar Inc. bought 14,087 shares of Safehold stock. The stock was 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 stock was purchased 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 stock was purchased 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 stock was purchased 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 stock was purchased at an average cost of $71.01 per share, for a total transaction of $999,962.82.

Shares of NYSE SAFE opened at $76.30 on Friday. The stock has a 50-day simple moving average of $70.04. Safehold Inc. has a 52-week low of $47.51 and a 52-week high of $84.99. The company has a market capitalization of $4.06 billion, a PE ratio of 67.52 and a beta of -0.48.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Thursday, April 22nd. The company reported $0.32 earnings per share for the quarter, meeting the Zacks’ 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 forecast that Safehold Inc. will post 1.42 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were issued a dividend of $0.1623 per share. 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 payout ratio is 55.56%.

Several research analysts recently weighed in on SAFE shares. Mizuho increased their target price on Safehold from $75.00 to $85.00 and gave the stock 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 report on Thursday, May 6th. Finally, The Goldman Sachs Group lowered their target price on Safehold from $112.00 to $95.00 and set a “buy” rating for the company in a research note on Wednesday, March 31st. One equities research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $81.60.

A number of large investors have recently made changes to their positions in SAFE. FMR LLC raised its holdings in Safehold by 7.7% during the first quarter. FMR LLC now owns 484,299 shares of the company’s stock worth $10,563,000 after purchasing an additional 34,628 shares in the last quarter. Comerica Bank grew its position in Safehold by 4.4% in the fourth quarter. Comerica Bank now owns 15,195 shares of the company’s stock worth $1,156,000 after buying an additional 638 shares during the last quarter. First Trust Advisors LP grew its position in Safehold by 13.4% in the fourth quarter. First Trust Advisors LP now owns 93,355 shares of the company’s stock worth $6,767,000 after buying an additional 11,039 shares during the last quarter. Daiwa Securities Group Inc. grew its position in Safehold by 22.4% in the fourth quarter. Daiwa Securities Group Inc. now owns 3,279 shares of the company’s stock worth $238,000 after buying an additional 600 shares during the last quarter. Finally, US Bancorp DE grew its position in Safehold by 16.9% in the fourth quarter. US Bancorp DE now owns 11,190 shares of the company’s stock worth $811,000 after buying an additional 1,615 shares during the last quarter. 28.23% of the stock is currently owned by hedge funds and other institutional investors.

Safehold Company 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. 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.

Read More: Current Ratio

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

Receive News & Ratings for Safehold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safehold and related companies with MarketBeat.com's FREE daily email newsletter.