Systematic Financial Management LP Buys Shares of 43,075 Safehold Inc. (NYSE:SAFE)

Systematic Financial Management LP purchased a new position in shares of Safehold Inc. (NYSE:SAFE) in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 43,075 shares of the company’s stock, valued at approximately $1,130,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. lifted its stake in Safehold by 35.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after acquiring an additional 471 shares in the last quarter. Daiwa Securities Group Inc. increased its stake in Safehold by 5.8% during the third quarter. Daiwa Securities Group Inc. now owns 14,893 shares of the company’s stock worth $391,000 after purchasing an additional 823 shares during the period. GAMMA Investing LLC lifted its position in shares of Safehold by 108.7% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock worth $46,000 after purchasing an additional 920 shares in the last quarter. FMR LLC lifted its position in shares of Safehold by 24.9% during the third quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after purchasing an additional 1,163 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Safehold by 79.3% in the third quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after purchasing an additional 1,275 shares during the period. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

Safehold Stock Up 1.0 %

Shares of NYSE SAFE opened at $21.45 on Friday. Safehold Inc. has a 1 year low of $17.91 and a 1 year high of $28.80. The company has a market capitalization of $1.53 billion, a price-to-earnings ratio of 12.62 and a beta of 1.66. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The business has a 50-day moving average of $22.54 and a two-hundred day moving average of $22.23.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, hitting the consensus estimate of $0.37. The firm had revenue of $90.70 million during the quarter, compared to analysts’ expectations of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The firm’s revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.33 earnings per share. On average, analysts forecast that Safehold Inc. will post 1.56 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.30%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio (DPR) is 41.76%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on SAFE shares. The Goldman Sachs Group cut their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a research note on Friday, November 1st. Wedbush reaffirmed a “neutral” rating and set a $23.00 price objective (down previously from $25.00) on shares of Safehold in a research report on Monday, November 4th. Mizuho lifted their target price on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research note on Thursday, September 19th. Finally, Royal Bank of Canada increased their price target on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Safehold currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.22.

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.