Aew Capital Management L P Buys Shares of 1,094,250 Safehold Inc. (NYSE:SAFE)

Aew Capital Management L P bought a new stake in shares of Safehold Inc. (NYSE:SAFE) during the 4th quarter, HoldingsChannel reports. The firm bought 1,094,250 shares of the company’s stock, valued at approximately $25,605,000. Safehold comprises approximately 0.9% of Aew Capital Management L P’s investment portfolio, making the stock its 28th largest position.

Several other institutional investors and hedge funds also recently bought and sold shares of SAFE. Vanguard Group Inc. grew its stake in Safehold by 11.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock valued at $137,234,000 after acquiring an additional 816,033 shares in the last quarter. Monashee Investment Management LLC purchased a new position in Safehold during the 3rd quarter valued at about $3,480,000. Jupiter Asset Management Ltd. purchased a new position in Safehold during the 3rd quarter valued at about $2,720,000. Cerity Partners LLC purchased a new position in Safehold during the 4th quarter valued at about $2,765,000. Finally, Allstate Corp grew its stake in Safehold by 164.7% during the 3rd quarter. Allstate Corp now owns 162,758 shares of the company’s stock valued at $2,897,000 after acquiring an additional 101,268 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Analysts Set New Price Targets

SAFE has been the subject of several recent research reports. Jefferies Financial Group initiated coverage on Safehold in a research note on Thursday, January 4th. They issued a “buy” rating and a $33.00 price target for the company. The Goldman Sachs Group boosted their price target on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Mizuho lowered their price target on Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Royal Bank of Canada lowered their price target on Safehold from $33.00 to $32.00 and set an “outperform” rating for the company in a research note on Thursday, February 15th. Finally, JMP Securities initiated coverage on Safehold in a research note on Tuesday, January 23rd. They issued an “outperform” rating and a $35.00 price target for the company. Three analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.40.

Safehold Stock Performance

SAFE traded down $0.20 on Friday, hitting $18.20. The company had a trading volume of 232,557 shares, compared to its average volume of 350,288. The company’s fifty day moving average price is $19.97 and its 200 day moving average price is $19.91. Safehold Inc. has a 1-year low of $15.00 and a 1-year high of $29.11. The company has a debt-to-equity ratio of 1.78, a current ratio of 36.61 and a quick ratio of 36.61. The stock has a market cap of $1.30 billion, a price-to-earnings ratio of -22.59 and a beta of 1.46.

Safehold (NYSE:SAFE) last posted its earnings results on Monday, February 12th. The company reported $0.36 earnings per share for the quarter, topping the consensus estimate of $0.35 by $0.01. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The firm had revenue of $103.00 million during the quarter, compared to analyst estimates of $84.89 million. During the same period in the previous year, the company earned ($6.00) EPS. The company’s revenue for the quarter was up 40.3% on a year-over-year basis. Equities analysts predict that Safehold Inc. will post 1.53 earnings per share for the current fiscal year.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a dividend of $0.177 per share. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.89%. Safehold’s dividend payout ratio (DPR) is presently -87.65%.

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.