Addison Capital Co Cuts Stake in Safehold Inc. (NYSE:SAFE)

Addison Capital Co cut its stake in Safehold Inc. (NYSE:SAFE) by 1.6% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 146,334 shares of the company’s stock after selling 2,439 shares during the period. Safehold makes up 1.1% of Addison Capital Co’s investment portfolio, making the stock its 29th largest position. Addison Capital Co owned about 0.20% of Safehold worth $2,704,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. JPMorgan Chase & Co. raised its holdings in shares of Safehold by 16.1% in 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. purchased a new position in Safehold in the third quarter valued at approximately $639,000. Charles Schwab Investment Management Inc. lifted its position in Safehold by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after buying an additional 39,320 shares in the last quarter. Barclays PLC grew its stake in Safehold by 317.9% during the third quarter. Barclays PLC now owns 85,932 shares of the company’s stock worth $2,254,000 after buying an additional 65,370 shares during the period. Finally, Geode Capital Management LLC increased its position 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 worth $32,734,000 after acquiring an additional 38,074 shares in the last quarter. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities analysts recently weighed in on the stock. JMP Securities restated a “market outperform” rating and set a $35.00 target price on shares of Safehold in a report on Thursday, February 6th. Wedbush restated a “neutral” rating and set a $19.00 price objective (down previously from $20.00) on shares of Safehold in a research note on Friday, February 7th. The Goldman Sachs Group lowered their target price on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Morgan Stanley lowered Safehold from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $30.00 to $19.00 in a research report on Wednesday, January 15th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat.com, Safehold has an average rating of “Hold” and a consensus target price of $25.56.

Safehold Price Performance

SAFE opened at $18.93 on Monday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 36.59 and a current ratio of 36.59. Safehold Inc. has a 1-year low of $15.55 and a 1-year high of $28.80. The company has a 50-day moving average of $17.28 and a 200-day moving average of $20.76. The company has a market capitalization of $1.35 billion, a P/E ratio of 12.79 and a beta of 1.75.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 previous year, the company earned $0.36 EPS. Equities analysts expect that Safehold Inc. will post 1.58 EPS for the current fiscal year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Monday, March 31st will be issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 3.74%. The ex-dividend date is Monday, March 31st. Safehold’s dividend payout ratio is presently 47.30%.

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.