Addison Capital Co Has $2.69 Million Position in Safehold Inc. $SAFE

Addison Capital Co cut its position in shares of Safehold Inc. (NYSE:SAFE) by 1.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 143,935 shares of the company’s stock after selling 2,399 shares during the period. Safehold accounts for 1.1% of Addison Capital Co’s portfolio, making the stock its 27th largest holding. Addison Capital Co owned 0.20% of Safehold worth $2,694,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of SAFE. US Bancorp DE grew its holdings in Safehold by 136.4% during the first quarter. US Bancorp DE now owns 2,215 shares of the company’s stock worth $41,000 after purchasing an additional 1,278 shares during the period. Versant Capital Management Inc lifted its position in shares of Safehold by 73.9% in the first quarter. Versant Capital Management Inc now owns 2,377 shares of the company’s stock valued at $44,000 after buying an additional 1,010 shares during the last quarter. First Citizens Bank & Trust Co. bought a new position in shares of Safehold during the 1st quarter worth approximately $192,000. D. E. Shaw & Co. Inc. acquired a new position in shares of Safehold during the 4th quarter worth approximately $194,000. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Safehold by 28.5% during the 1st quarter. PNC Financial Services Group Inc. now owns 10,863 shares of the company’s stock worth $203,000 after acquiring an additional 2,408 shares during the last quarter. 70.38% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on the stock. Mizuho reduced their price objective on shares of Safehold from $19.00 to $16.00 and set a “neutral” rating for the company in a research report on Monday, June 16th. Truist Financial reduced their target price 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. JMP Securities decreased their price target on shares of Safehold from $32.00 to $28.00 and set a “market outperform” rating on the stock in a research note on Tuesday, August 12th. JPMorgan Chase & Co. cut their price objective on shares of Safehold from $20.00 to $19.00 and set a “neutral” rating for the company in a research report on Wednesday, July 9th. Finally, The Goldman Sachs Group reduced their price objective on Safehold from $28.00 to $25.00 and set a “buy” rating for the company in a report on Wednesday, May 14th. Four research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Safehold has an average rating of “Hold” and an average target price of $21.89.

Safehold Stock Down 2.0%

Shares of SAFE opened at $16.04 on Thursday. Safehold Inc. has a 12 month low of $13.43 and a 12 month high of $28.80. The firm’s 50 day moving average is $15.27 and its 200-day moving average is $15.96. The stock has a market capitalization of $1.15 billion, a PE ratio of 11.21, a P/E/G ratio of 1.47 and a beta of 1.85. The company has a current ratio of 36.02, a quick ratio of 36.02 and a debt-to-equity ratio of 1.85.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $0.39 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.39. The business had revenue of $93.84 million during the quarter, compared to analysts’ expectations of $94.05 million. Safehold had a return on equity of 4.70% and a net margin of 27.45%.The firm’s revenue for the quarter was up 4.3% compared to the same quarter last year. During the same period in the previous year, the company posted $0.41 earnings per share. Equities research analysts forecast that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Monday, June 30th were issued a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend was Monday, June 30th. Safehold’s dividend payout ratio is 49.65%.

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.