Everence Capital Management Inc. Takes $213,000 Position in Safehold Inc. (NYSE:SAFE)

Everence Capital Management Inc. acquired a new position in Safehold Inc. (NYSE:SAFE) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 9,118 shares of the company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of SAFE. BlackRock Inc. grew its position in shares of Safehold by 51.4% in the 1st quarter. BlackRock Inc. now owns 7,325,064 shares of the company’s stock worth $211,511,000 after buying an additional 2,487,183 shares during the last quarter. Bluefin Capital Management LLC purchased a new stake in Safehold during the 1st quarter worth approximately $10,264,000. Vanguard Group Inc. grew its position in Safehold by 11.8% during the 3rd quarter. Vanguard Group Inc. now owns 7,709,773 shares of the company’s stock worth $137,234,000 after purchasing an additional 816,033 shares during the last quarter. State Street Corp grew its position in Safehold by 43.9% during the 1st quarter. State Street Corp now owns 2,114,552 shares of the company’s stock worth $62,104,000 after purchasing an additional 645,322 shares during the last quarter. Finally, T. Rowe Price Investment Management Inc. grew its position in Safehold by 24.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,241,562 shares of the company’s stock worth $64,154,000 after purchasing an additional 443,049 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Stock Performance

SAFE opened at $18.95 on Friday. 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 firm has a fifty day moving average price of $20.10 and a 200 day moving average price of $19.85. Safehold Inc. has a 1 year low of $15.00 and a 1 year high of $29.59. The stock has a market cap of $1.35 billion, a P/E ratio of -23.40 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 (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The firm had revenue of $103.00 million during the quarter, compared to analysts’ expectations of $84.89 million. During the same period in the previous year, the business posted ($6.00) EPS. The business’s revenue was up 40.3% compared to the same quarter last year. Equities research analysts anticipate that Safehold Inc. will post 1.52 earnings per share for the current year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Investors of record on Thursday, March 28th were paid a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 3.74%. The ex-dividend date was Wednesday, March 27th. Safehold’s dividend payout ratio is currently -86.42%.

Wall Street Analysts Forecast Growth

SAFE has been the topic of several research analyst reports. JMP Securities initiated coverage on shares of Safehold in a research report on Tuesday, January 23rd. They set an “outperform” rating and a $35.00 target price on the stock. The Goldman Sachs Group boosted their target price on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Mizuho dropped their target price on shares of Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Jefferies Financial Group started coverage on shares of Safehold in a research report on Thursday, January 4th. They set a “buy” rating and a $33.00 target price on the stock. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, Safehold currently has a consensus rating of “Moderate Buy” and an average target price of $28.40.

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.