Safehold (NYSE:SAFE) Hits New 12-Month High at $33.60

Safehold Inc (NYSE:SAFE)’s share price reached a new 52-week high on Friday . The company traded as high as $33.60 and last traded at $33.40, with a volume of 6831 shares trading hands. The stock had previously closed at $31.74.

A number of research firms recently weighed in on SAFE. ValuEngine downgraded shares of Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Zacks Investment Research raised shares of HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd.

The firm has a market capitalization of $579.34 million, a price-to-earnings ratio of 51.73 and a beta of 0.26. The business’s 50-day simple moving average is $29.90.

Safehold (NYSE:SAFE) last released its earnings results on Thursday, April 25th. The company reported $0.36 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by ($0.01). The business had revenue of $21.80 million during the quarter, compared to the consensus estimate of $20.81 million. Safehold had a net margin of 31.96% and a return on equity of 4.50%. On average, equities analysts expect that Safehold Inc will post 1.44 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a $0.156 dividend. The ex-dividend date of this dividend was Thursday, June 27th. This represents a $0.62 dividend on an annualized basis and a yield of 1.88%. This is an increase from Safehold’s previous quarterly dividend of $0.15. Safehold’s dividend payout ratio (DPR) is 96.88%.

In other news, major shareholder Istar Inc. acquired 8,200 shares of the firm’s stock in a transaction dated Thursday, April 25th. The stock was bought at an average price of $24.60 per share, with a total value of $201,720.00. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In the last three months, insiders bought 261,451 shares of company stock valued at $7,532,952. Insiders own 1.47% of the company’s stock.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Nisa Investment Advisors LLC lifted its stake in shares of Safehold by 83.6% during the 2nd quarter. Nisa Investment Advisors LLC now owns 1,561 shares of the company’s stock worth $47,000 after buying an additional 711 shares during the last quarter. Barclays PLC lifted its stake in shares of Safehold by 46.3% during the 4th quarter. Barclays PLC now owns 5,193 shares of the company’s stock worth $97,000 after buying an additional 1,643 shares during the last quarter. Rhumbline Advisers acquired a new stake in shares of Safehold during the 4th quarter worth about $218,000. Pinnacle Associates Ltd. lifted its stake in shares of Safehold by 10.5% during the 1st quarter. Pinnacle Associates Ltd. now owns 18,225 shares of the company’s stock worth $397,000 after buying an additional 1,725 shares during the last quarter. Finally, Angeles Investment Advisors LLC acquired a new stake in Safehold in the 1st quarter worth about $414,000. 34.19% of the stock is owned by institutional investors.

About Safehold (NYSE:SAFE)

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.

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