Legal & General Group Plc Invests $4.60 Million in Safehold Inc. $SAFE

Legal & General Group Plc bought a new stake in Safehold Inc. (NYSE:SAFE) during the second quarter, Holdings Channel reports. The institutional investor bought 293,180 shares of the company’s stock, valued at approximately $4,603,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of SAFE. Long Pond Capital LP acquired a new position in Safehold in the fourth quarter valued at $12,936,000. NewEdge Wealth LLC acquired a new stake in shares of Safehold during the second quarter worth about $10,529,000. Denali Advisors LLC acquired a new stake in shares of Safehold during the second quarter worth about $4,861,000. Michelson Medical Research Foundation Inc. purchased a new position in shares of Safehold during the second quarter worth about $4,629,000. Finally, Deutsche Bank AG grew its holdings in shares of Safehold by 339.9% during the fourth quarter. Deutsche Bank AG now owns 370,042 shares of the company’s stock worth $5,066,000 after buying an additional 285,920 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on SAFE. Weiss Ratings raised Safehold from a “hold (c-)” rating to a “hold (c)” rating in a research note on Friday, July 31st. Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a report on Saturday, July 4th. Cantor Fitzgerald restated a “neutral” rating on shares of Safehold in a research note on Tuesday, August 4th. Raymond James Financial initiated coverage on Safehold in a report on Wednesday, August 19th. They set a “market perform” rating for the company. Finally, Zacks Research upgraded shares of Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Two research analysts have rated the stock with a Buy rating, seven have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $17.17.

Safehold Trading Down 1.2%

NYSE SAFE opened at $15.11 on Friday. The company has a quick ratio of 34.36, a current ratio of 34.37 and a debt-to-equity ratio of 1.77. The stock has a market capitalization of $1.07 billion, a P/E ratio of 9.33, a P/E/G ratio of 4.56 and a beta of 1.73. Safehold Inc. has a 52-week low of $12.76 and a 52-week high of $17.45. The firm has a 50-day moving average price of $15.94 and a 200 day moving average price of $15.38.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Thursday, July 30th. The company reported $0.42 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.42. Safehold had a return on equity of 4.76% and a net margin of 27.70%.The company had revenue of $114.65 million for the quarter, compared to analyst estimates of $110.78 million. Equities research analysts expect that Safehold Inc. will post 1.64 EPS for the current year.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 4.7%. The ex-dividend date of this dividend was Tuesday, June 30th. Safehold’s dividend payout ratio is currently 43.83%.

Safehold Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.