Safehold Inc. (NYSE:SAFE) Shares Bought by Peregrine Capital Management LLC

Peregrine Capital Management LLC raised its stake in shares of Safehold Inc. (NYSE:SAFE) by 5.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 308,835 shares of the company’s stock after acquiring an additional 17,220 shares during the period. Peregrine Capital Management LLC’s holdings in Safehold were worth $5,707,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in SAFE. JPMorgan Chase & Co. boosted its position in shares of Safehold by 16.1% during the 3rd quarter. JPMorgan Chase & Co. now owns 662,179 shares of the company’s stock worth $17,369,000 after purchasing an additional 91,965 shares during the period. Victory Capital Management Inc. acquired a new position in Safehold during the third quarter worth $639,000. Charles Schwab Investment Management Inc. boosted its position in shares of Safehold by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock worth $18,039,000 after buying an additional 39,320 shares during the period. Barclays PLC grew its stake in shares of Safehold by 317.9% in the third quarter. Barclays PLC now owns 85,932 shares of the company’s stock valued at $2,254,000 after buying an additional 65,370 shares in the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of Safehold by 3.1% in the third quarter. Geode Capital Management LLC now owns 1,247,740 shares of the company’s stock valued at $32,734,000 after buying an additional 38,074 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on SAFE. Wedbush restated a “neutral” rating and set a $19.00 target price (down from $20.00) on shares of Safehold in a report on Friday, February 7th. Mizuho lifted their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. The Goldman Sachs Group cut their target price on shares of Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a research note on Tuesday, January 7th. Royal Bank of Canada raised their price target on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley lowered Safehold from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $30.00 to $19.00 in a research report on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $25.56.

Safehold Price Performance

Safehold stock opened at $17.13 on Wednesday. The stock has a market cap of $1.22 billion, a P/E ratio of 11.57 and a beta of 1.66. The company has a fifty day simple moving average of $17.71 and a 200-day simple moving average of $21.47. The company has a current ratio of 37.37, a quick ratio of 37.83 and a debt-to-equity ratio of 1.82. Safehold Inc. has a 12-month low of $15.55 and a 12-month high of $28.80.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same quarter in the prior year, the business posted $0.36 earnings per share. Equities analysts expect that Safehold Inc. will post 1.59 EPS for the current fiscal year.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 4.13%. The ex-dividend date of this dividend was Monday, December 30th. Safehold’s dividend payout ratio (DPR) is 47.97%.

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.