Alberta Investment Management Corp Boosts Holdings in Safehold Inc. (NYSE:SAFE)

Alberta Investment Management Corp lifted its holdings in Safehold Inc. (NYSE:SAFE) by 11.0% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 84,700 shares of the company’s stock after purchasing an additional 8,395 shares during the period. Alberta Investment Management Corp owned approximately 0.12% of Safehold worth $1,565,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in SAFE. Allspring Global Investments Holdings LLC acquired a new position in shares of Safehold during the third quarter worth about $335,000. Mirae Asset Global Investments Co. Ltd. lifted its stake in Safehold by 35.4% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock worth $47,000 after acquiring an additional 471 shares during the last quarter. abrdn plc acquired a new position in Safehold during the 3rd quarter worth approximately $271,000. First Trust Direct Indexing L.P. purchased a new stake in shares of Safehold in the 3rd quarter valued at approximately $234,000. Finally, Angeles Wealth Management LLC raised its holdings in shares of Safehold by 77.5% in the 3rd quarter. Angeles Wealth Management LLC now owns 53,817 shares of the company’s stock valued at $1,412,000 after purchasing an additional 23,498 shares in the last quarter. 70.38% of the stock is owned by hedge funds and other institutional investors.

Safehold Stock Performance

Shares of SAFE opened at $16.81 on Friday. The company’s 50 day simple moving average is $17.48 and its 200-day simple moving average is $21.36. The firm has a market cap of $1.20 billion, a PE ratio of 11.36 and a beta of 1.66. Safehold Inc. has a 12-month low of $15.55 and a 12-month high of $28.80. The company has a current ratio of 36.59, a quick ratio of 36.59 and a debt-to-equity ratio of 1.82.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.36. Safehold had a net margin of 28.92% and a return on equity of 4.76%. During the same quarter in the prior year, the company posted $0.36 EPS. As a group, equities analysts predict that Safehold Inc. will post 1.58 EPS for the current year.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a yield of 4.21%. The ex-dividend date of this dividend was Monday, December 30th. Safehold’s payout ratio is 47.97%.

Wall Street Analysts Forecast Growth

SAFE has been the subject of a number of recent analyst reports. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Thursday, February 6th. The Goldman Sachs Group decreased their target price on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley lowered shares of Safehold from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $30.00 to $19.00 in a research note on Wednesday, January 15th. Wedbush restated a “neutral” rating and set a $19.00 price objective (down previously from $20.00) on shares of Safehold in a research report on Friday, February 7th. Finally, Royal Bank of Canada increased their target price on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $25.56.

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.