Angeles Wealth Management LLC Acquires New Stake in Safehold Inc. (NYSE:SAFE)

Angeles Wealth Management LLC bought a new stake in Safehold Inc. (NYSE:SAFE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 30,319 shares of the company’s stock, valued at approximately $585,000.

Several other institutional investors and hedge funds have also bought and sold shares of SAFE. UBS Group AG lifted its stake in shares of Safehold by 1,002.8% in the 4th quarter. UBS Group AG now owns 2,206,178 shares of the company’s stock worth $51,625,000 after purchasing an additional 2,006,133 shares during the period. Peregrine Capital Management LLC bought a new position in Safehold in the first quarter worth approximately $7,227,000. Sei Investments Co. raised its position in Safehold by 62.4% in the first quarter. Sei Investments Co. now owns 649,582 shares of the company’s stock worth $13,381,000 after acquiring an additional 249,500 shares during the period. Heitman Real Estate Securities LLC purchased a new position in shares of Safehold during the 4th quarter worth $5,005,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Safehold during the 1st quarter valued at $4,400,000. 70.38% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

SAFE has been the topic of a number of recent research 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 report on Friday, June 28th. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a research note on Thursday, May 16th. Truist Financial increased their target price on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, Wedbush raised their target price on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Four research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $26.75.

Safehold Stock Up 2.7 %

NYSE SAFE opened at $25.30 on Wednesday. Safehold Inc. has a 12 month low of $15.00 and a 12 month high of $26.05. The company has a current ratio of 38.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.76. The stock has a market cap of $1.81 billion, a PE ratio of -56.22 and a beta of 1.65. The stock’s 50 day moving average is $22.87 and its 200 day moving average is $20.68.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The firm had revenue of $89.90 million during the quarter, compared to analyst estimates of $87.28 million. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. Safehold’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.35 earnings per share. Research analysts predict that Safehold Inc. will post 1.59 EPS for the current fiscal year.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were issued a $0.177 dividend. The ex-dividend date was Friday, June 28th. This represents a $0.71 annualized dividend and a dividend yield of 2.80%. Safehold’s dividend payout ratio (DPR) is -157.78%.

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.