JPMorgan Chase & Co. Purchases 279,664 Shares of Safehold Inc. $SAFE

JPMorgan Chase & Co. grew its holdings in shares of Safehold Inc. (NYSE:SAFE) by 24.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,411,158 shares of the company’s stock after acquiring an additional 279,664 shares during the period. JPMorgan Chase & Co. owned 1.97% of Safehold worth $21,859,000 as of its most recent SEC filing.

Several other hedge funds have also recently made changes to their positions in SAFE. Hantz Financial Services Inc. boosted its position in shares of Safehold by 39.9% during the 3rd quarter. Hantz Financial Services Inc. now owns 2,604 shares of the company’s stock valued at $40,000 after purchasing an additional 743 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in Safehold by 115.0% in the second quarter. Russell Investments Group Ltd. now owns 3,344 shares of the company’s stock worth $52,000 after purchasing an additional 1,789 shares in the last quarter. Advisory Services Network LLC bought a new stake in Safehold in the third quarter worth approximately $57,000. Versant Capital Management Inc lifted its stake in Safehold by 179.1% in the third quarter. Versant Capital Management Inc now owns 4,225 shares of the company’s stock valued at $65,000 after buying an additional 2,711 shares during the period. Finally, Tower Research Capital LLC TRC boosted its holdings in shares of Safehold by 98.1% during the 2nd quarter. Tower Research Capital LLC TRC now owns 4,832 shares of the company’s stock worth $75,000 after buying an additional 2,393 shares in the last quarter. 70.38% of the stock is owned by institutional investors.

Safehold Trading Down 1.9%

SAFE opened at $13.92 on Wednesday. Safehold Inc. has a fifty-two week low of $12.76 and a fifty-two week high of $19.21. The firm has a market capitalization of $998.97 million, a PE ratio of 8.70, a P/E/G ratio of 1.92 and a beta of 1.80. The company has a debt-to-equity ratio of 1.88, a current ratio of 34.97 and a quick ratio of 34.97. The company’s 50-day moving average is $15.02 and its 200 day moving average is $14.73.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Wednesday, February 11th. The company reported $0.42 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.42. The business had revenue of $97.87 million during the quarter, compared to the consensus estimate of $96.71 million. Safehold had a return on equity of 4.92% and a net margin of 29.69%. As a group, research analysts predict that Safehold Inc. will post 1.58 earnings per share for the current fiscal year.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st will be given a dividend of $0.177 per share. The ex-dividend date of this dividend is Tuesday, March 31st. This represents a $0.71 annualized dividend and a dividend yield of 5.1%. Safehold’s payout ratio is presently 44.38%.

Analyst Ratings Changes

Several brokerages have recently commented on SAFE. Mizuho raised their price objective on shares of Safehold from $15.00 to $16.00 and gave the stock a “neutral” rating in a research report on Wednesday, March 11th. Morgan Stanley downgraded shares of Safehold from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $16.00 to $14.00 in a research report on Thursday, January 22nd. Truist Financial increased their target price on shares of Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Wall Street Zen cut shares of Safehold from a “hold” rating to a “sell” rating in a report on Saturday. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Safehold in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average target price of $19.33.

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.