First Citizens Bank & Trust Co. Makes New $192,000 Investment in Safehold Inc. (NYSE:SAFE)

First Citizens Bank & Trust Co. bought a new position in Safehold Inc. (NYSE:SAFE) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 10,235 shares of the company’s stock, valued at approximately $192,000.

Several other hedge funds and other institutional investors also recently modified their holdings of SAFE. Barclays PLC boosted its holdings in Safehold by 317.9% in the 3rd quarter. Barclays PLC now owns 85,932 shares of the company’s stock worth $2,254,000 after buying an additional 65,370 shares during the period. abrdn plc lifted its position in shares of Safehold by 30.6% during the fourth quarter. abrdn plc now owns 13,505 shares of the company’s stock worth $248,000 after acquiring an additional 3,166 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Safehold by 1,683.3% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 227,750 shares of the company’s stock worth $4,209,000 after acquiring an additional 214,979 shares during the period. Asset Management One Co. Ltd. grew its position in shares of Safehold by 7.4% in the fourth quarter. Asset Management One Co. Ltd. now owns 71,194 shares of the company’s stock valued at $1,326,000 after purchasing an additional 4,900 shares in the last quarter. Finally, Rhumbline Advisers grew its position in shares of Safehold by 0.4% in the fourth quarter. Rhumbline Advisers now owns 163,179 shares of the company’s stock valued at $3,016,000 after purchasing an additional 663 shares in the last quarter. Institutional investors own 70.38% of the company’s stock.

Safehold Stock Down 1.7%

SAFE stock opened at $15.78 on Thursday. 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’s 50 day moving average is $15.31 and its 200 day moving average is $17.29. The stock has a market cap of $1.13 billion, a price-to-earnings ratio of 10.66 and a beta of 1.80. Safehold Inc. has a 1-year low of $13.68 and a 1-year high of $28.80.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $97.68 million during the quarter, compared to analysts’ expectations of $95.55 million. Safehold had a net margin of 28.92% and a return on equity of 4.76%. The business’s quarterly revenue was up 4.8% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.43 EPS. Sell-side analysts predict that Safehold Inc. will post 1.58 EPS for the current fiscal year.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Monday, March 31st were paid a $0.177 dividend. The ex-dividend date of this dividend was Monday, March 31st. This represents a $0.71 dividend on an annualized basis and a yield of 4.49%. Safehold’s dividend payout ratio is presently 47.95%.

Wall Street Analyst Weigh In

SAFE has been the subject of several analyst reports. Truist Financial cut their target price on Safehold from $20.00 to $18.00 and set a “hold” rating for the company in a research note on Monday, May 19th. Wedbush reissued a “neutral” rating and issued a $20.00 price target on shares of Safehold in a report on Monday, March 31st. Morgan Stanley reduced their price objective on shares of Safehold from $19.00 to $17.00 and set an “equal weight” rating for the company in a research note on Tuesday, April 29th. The Goldman Sachs Group decreased their target price on shares of Safehold from $28.00 to $25.00 and set a “buy” rating on the stock in a report on Wednesday, May 14th. Finally, Mizuho cut their price target on shares of Safehold from $25.00 to $19.00 and set a “neutral” rating for the company in a report on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.50.

Safehold 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.