Alberta Investment Management Corp Boosts Stock Position in Safehold Inc. (NYSE:SAFE)

Alberta Investment Management Corp raised its position in Safehold Inc. (NYSE:SAFE) by 11.0% during the fourth quarter, Holdings Channel.com reports. The firm owned 84,700 shares of the company’s stock after buying an additional 8,395 shares during the period. Alberta Investment Management Corp’s holdings in Safehold were worth $1,565,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the company. Peregrine Capital Management LLC raised its holdings in Safehold by 5.9% in the 4th quarter. Peregrine Capital Management LLC now owns 308,835 shares of the company’s stock valued at $5,707,000 after acquiring an additional 17,220 shares during the last quarter. Principal Financial Group Inc. increased its stake in Safehold by 2.8% in the fourth quarter. Principal Financial Group Inc. now owns 222,050 shares of the company’s stock valued at $4,103,000 after purchasing an additional 6,093 shares during the last quarter. Rhumbline Advisers lifted its position in Safehold by 0.4% during the fourth quarter. Rhumbline Advisers now owns 163,179 shares of the company’s stock worth $3,016,000 after buying an additional 663 shares during the period. Asset Management One Co. Ltd. boosted its stake in Safehold by 7.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 71,194 shares of the company’s stock worth $1,326,000 after buying an additional 4,900 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Safehold by 1,683.3% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 227,750 shares of the company’s stock valued at $4,209,000 after buying an additional 214,979 shares during the period. 70.38% of the stock is owned by institutional investors and hedge funds.

Safehold Price Performance

Shares of Safehold stock opened at $16.81 on Friday. Safehold Inc. has a twelve month low of $15.55 and a twelve month high of $28.80. The stock has a market cap of $1.20 billion, a price-to-earnings ratio of 11.36 and a beta of 1.66. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82. The company has a fifty day moving average price of $17.48 and a 200 day moving average price of $21.36.

Safehold (NYSE:SAFE) last issued its earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, hitting 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 period in the prior year, the business earned $0.36 earnings per share. Equities research analysts forecast that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 4.21%. The ex-dividend date was Monday, December 30th. Safehold’s dividend payout ratio (DPR) is 47.97%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SAFE. JMP Securities reiterated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a report on Thursday, February 6th. Wedbush reaffirmed a “neutral” rating and set a $19.00 price target (down previously from $20.00) on shares of Safehold in a research note on Friday, February 7th. The Goldman Sachs Group lowered their price objective on shares of Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Royal Bank of Canada increased their target price on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Finally, Morgan Stanley downgraded Safehold from an “overweight” rating to an “equal weight” rating and lowered their price target for the company 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 given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $25.56.

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.