Aew Capital Management L P Buys New Position in Safehold Inc. (NYSE:SAFE)

Aew Capital Management L P bought a new stake in Safehold Inc. (NYSE:SAFE) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 1,094,250 shares of the company’s stock, valued at approximately $25,605,000. Safehold comprises 0.9% of Aew Capital Management L P’s portfolio, making the stock its 28th largest position. Aew Capital Management L P owned 1.54% of Safehold at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in SAFE. CWM LLC boosted its holdings in shares of Safehold by 66.7% during the 3rd quarter. CWM LLC now owns 2,506 shares of the company’s stock worth $45,000 after buying an additional 1,003 shares in the last quarter. SG Americas Securities LLC purchased a new stake in Safehold in the 3rd quarter valued at $506,000. State of Alaska Department of Revenue raised its position in Safehold by 20.1% in the 3rd quarter. State of Alaska Department of Revenue now owns 48,583 shares of the company’s stock valued at $864,000 after buying an additional 8,134 shares during the last quarter. Exchange Traded Concepts LLC increased its position in shares of Safehold by 9.0% during the 3rd quarter. Exchange Traded Concepts LLC now owns 147,292 shares of the company’s stock valued at $2,622,000 after purchasing an additional 12,141 shares during the last quarter. Finally, Maryland State Retirement & Pension System increased its position in shares of Safehold by 6.3% during the 3rd quarter. Maryland State Retirement & Pension System now owns 16,491 shares of the company’s stock valued at $294,000 after purchasing an additional 981 shares during the last quarter. 70.38% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

SAFE has been the subject of several analyst reports. The Goldman Sachs Group raised their target price on Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. Royal Bank of Canada cut their target price on Safehold from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. Mizuho cut their target price on Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a research note on Thursday, March 7th. Jefferies Financial Group began coverage on Safehold in a research note on Thursday, January 4th. They issued a “buy” rating and a $33.00 target price on the stock. Finally, JMP Securities started coverage on Safehold in a research note on Tuesday, January 23rd. They issued an “outperform” rating and a $35.00 target price on the stock. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $28.40.

Safehold Stock Down 1.1 %

Safehold stock traded down $0.20 during midday trading on Friday, hitting $18.20. 232,557 shares of the company’s stock were exchanged, compared to its average volume of 350,288. The company has a debt-to-equity ratio of 1.78, a quick ratio of 36.61 and a current ratio of 36.61. Safehold Inc. has a 12 month low of $15.00 and a 12 month high of $29.11. The firm has a 50-day moving average of $19.97 and a two-hundred day moving average of $19.91. The company has a market cap of $1.30 billion, a PE ratio of -22.59 and a beta of 1.46.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Monday, February 12th. The company reported $0.36 earnings per share for the quarter, beating analysts’ consensus estimates of $0.35 by $0.01. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The business had revenue of $103.00 million for the quarter, compared to analysts’ expectations of $84.89 million. During the same period last year, the business earned ($6.00) EPS. The company’s revenue was up 40.3% compared to the same quarter last year. As a group, analysts expect that Safehold Inc. will post 1.53 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.89%. The ex-dividend date of this dividend was Wednesday, March 27th. Safehold’s dividend payout ratio is currently -87.65%.

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. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk.