Wells Fargo & Company MN Increases Position in Safehold Inc (NYSE:SAFE)

Wells Fargo & Company MN grew its holdings in shares of Safehold Inc (NYSE:SAFE) by 226.4% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 103,508 shares of the company’s stock after purchasing an additional 71,798 shares during the period. Wells Fargo & Company MN owned approximately 0.20% of Safehold worth $6,545,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of SAFE. Geode Capital Management LLC grew its stake in shares of Safehold by 25.4% in the 1st quarter. Geode Capital Management LLC now owns 197,710 shares of the company’s stock worth $12,501,000 after buying an additional 40,060 shares during the last quarter. Janus Henderson Group PLC bought a new stake in Safehold in the first quarter worth $317,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in shares of Safehold in the first quarter worth $421,000. Nomura Asset Management Co. Ltd. increased its holdings in shares of Safehold by 22.8% during the first quarter. Nomura Asset Management Co. Ltd. now owns 9,520 shares of the company’s stock valued at $602,000 after acquiring an additional 1,770 shares in the last quarter. Finally, Legal & General Group Plc raised its position in shares of Safehold by 7.0% in the 1st quarter. Legal & General Group Plc now owns 32,993 shares of the company’s stock worth $2,086,000 after purchasing an additional 2,159 shares during the last quarter. 24.33% of the stock is currently owned by hedge funds and other institutional investors.

In other Safehold news, major shareholder Istar Inc. purchased 1,759,651 shares of Safehold stock in a transaction dated Tuesday, April 28th. The stock was purchased at an average price of $57.16 per share, with a total value of $100,581,651.16. Insiders own 0.53% of the company’s stock.

NYSE:SAFE opened at $55.85 on Wednesday. Safehold Inc has a 12 month low of $26.61 and a 12 month high of $67.18. The company has a market cap of $2.85 billion, a PE ratio of 59.42 and a beta of -0.40. The company has a 50 day simple moving average of $56.50 and a two-hundred day simple moving average of $50.98.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Thursday, April 23rd. The company reported $0.36 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.39 by ($0.03). The firm had revenue of $40.20 million during the quarter, compared to analysts’ expectations of $41.24 million. Safehold had a return on equity of 4.39% and a net margin of 34.42%. As a group, equities analysts predict that Safehold Inc will post 1.29 earnings per share for the current year.

The company also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th will be given a $0.162 dividend. This represents a $0.65 annualized dividend and a yield of 1.16%. This is a boost from Safehold’s previous quarterly dividend of $0.16. The ex-dividend date is Monday, June 29th. Safehold’s dividend payout ratio (DPR) is presently 69.66%.

SAFE has been the subject of several recent analyst reports. Berenberg Bank started coverage on shares of Safehold in a report on Tuesday. They issued a “buy” rating and a $80.00 target price for the company. Bank of America assumed coverage on shares of Safehold in a report on Thursday, June 11th. They issued a “buy” rating and a $70.00 price objective for the company. SunTrust Banks initiated coverage on Safehold in a research report on Sunday, April 19th. They issued a “hold” rating and a $52.00 price objective on the stock. TheStreet raised Safehold from a “c-” rating to a “b” rating in a report on Monday, June 22nd. Finally, Zacks Investment Research raised Safehold from a “sell” rating to a “hold” rating in a report on Wednesday, June 10th. One analyst has rated the stock with a sell rating, three have issued a hold rating and two have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $55.00.

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. 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.

Further Reading: What is the balance sheet?

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Institutional Ownership by Quarter for Safehold (NYSE:SAFE)

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