Farmers & Merchants Investments Inc. Sells 34,719 Shares of Safehold Inc. (NYSE:SAFE)

Farmers & Merchants Investments Inc. cut its stake in Safehold Inc. (NYSE:SAFE) by 34.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 65,616 shares of the company’s stock after selling 34,719 shares during the period. Farmers & Merchants Investments Inc. owned approximately 0.09% of Safehold worth $1,228,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. T. Rowe Price Investment Management Inc. boosted its holdings in Safehold by 8.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 4,266,769 shares of the company’s stock valued at $78,850,000 after purchasing an additional 336,458 shares during the period. American Century Companies Inc. boosted its holdings in Safehold by 11.1% in the 4th quarter. American Century Companies Inc. now owns 1,515,743 shares of the company’s stock valued at $28,011,000 after purchasing an additional 150,976 shares during the period. JPMorgan Chase & Co. lifted its holdings in shares of Safehold by 58.7% during the 4th quarter. JPMorgan Chase & Co. now owns 1,051,078 shares of the company’s stock worth $19,424,000 after acquiring an additional 388,899 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in shares of Safehold by 4.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 717,066 shares of the company’s stock worth $13,251,000 after acquiring an additional 29,348 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Safehold by 308.1% during the 4th quarter. Invesco Ltd. now owns 646,222 shares of the company’s stock worth $11,942,000 after acquiring an additional 487,886 shares during the period. 70.38% of the stock is owned by institutional investors.

Safehold Trading Down 2.9%

Shares of Safehold stock opened at $15.24 on Friday. The stock has a market capitalization of $1.09 billion, a P/E ratio of 10.30 and a beta of 1.80. The company has a quick ratio of 36.59, a current ratio of 36.59 and a debt-to-equity ratio of 1.82. The company has a 50-day simple moving average of $15.29 and a 200 day simple moving average of $17.19. Safehold Inc. has a 12-month low of $13.68 and a 12-month high of $28.80.

Safehold (NYSE:SAFE) last announced its earnings results on Tuesday, May 6th. The company reported $0.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $97.68 million during the quarter, compared to analysts’ expectations of $95.55 million. Safehold had a net margin of 28.92% and a return on equity of 4.76%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $0.43 EPS. Research analysts expect that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Shareholders of record on Monday, June 30th will be given a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 4.65%. Safehold’s payout ratio is presently 47.95%.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Royal Bank of Canada reduced their price objective on shares of Safehold from $21.00 to $20.00 and set an “outperform” rating for the company in a report on Monday, May 19th. Truist Financial reduced their price objective on shares of Safehold from $20.00 to $18.00 and set a “hold” rating for the company in a report on Monday, May 19th. Wedbush reaffirmed a “neutral” rating and set a $20.00 price objective on shares of Safehold in a report on Monday, March 31st. Mizuho reduced their price objective on shares of Safehold from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Finally, The Goldman Sachs Group reduced their price objective on shares of Safehold from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Safehold presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

Safehold Profile

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.