Allstate Corp Sells 7,286 Shares of Safehold Inc. (NYSE:SAFE)

Allstate Corp lowered its stake in shares of Safehold Inc. (NYSE:SAFE) by 7.5% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 89,960 shares of the company’s stock after selling 7,286 shares during the quarter. Allstate Corp owned 0.13% of Safehold worth $1,662,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in SAFE. Intech Investment Management LLC increased its position in shares of Safehold by 76.4% during the 3rd quarter. Intech Investment Management LLC now owns 21,711 shares of the company’s stock valued at $569,000 after purchasing an additional 9,400 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in Safehold by 6.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after acquiring an additional 39,320 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of 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 acquiring an additional 823 shares in the last quarter. FMR LLC lifted its holdings in shares of Safehold by 24.9% in the 3rd quarter. FMR LLC now owns 5,840 shares of the company’s stock worth $153,000 after acquiring an additional 1,163 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Safehold by 266.5% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 349,631 shares of the company’s stock valued at $9,171,000 after purchasing an additional 254,227 shares in the last quarter. 70.38% of the stock is owned by institutional investors.

Safehold Stock Down 1.1 %

Shares of Safehold stock opened at $18.06 on Friday. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82. Safehold Inc. has a 12-month low of $15.55 and a 12-month high of $28.80. The company has a market cap of $1.29 billion, a P/E ratio of 12.20 and a beta of 1.75. The company’s fifty day simple moving average is $17.61 and its two-hundred day simple moving average is $20.34.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same period in the prior year, the company earned $0.36 earnings per share. Research analysts anticipate that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Monday, March 31st will be given a dividend of $0.177 per share. The ex-dividend date of this dividend is Monday, March 31st. This represents a $0.71 annualized dividend and a dividend yield of 3.92%. Safehold’s dividend payout ratio is presently 47.30%.

Analysts Set New Price Targets

Several analysts have weighed in on SAFE shares. JMP Securities reissued a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research note on Thursday, February 6th. Wedbush reissued a “neutral” rating and set a $19.00 price objective (down previously from $20.00) on shares of Safehold in a research note on Friday, February 7th. The Goldman Sachs Group cut their target price on shares of Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Finally, Morgan Stanley lowered shares of 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 report on Wednesday, January 15th. Five equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $25.56.

Safehold Company 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.