Systematic Financial Management LP Invests $1.13 Million in Safehold Inc. (NYSE:SAFE)

Systematic Financial Management LP bought a new stake in shares of Safehold Inc. (NYSE:SAFE) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 43,075 shares of the company’s stock, valued at approximately $1,130,000. Systematic Financial Management LP owned 0.06% of Safehold as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Long Pond Capital LP grew its holdings in Safehold by 14.9% in the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after purchasing an additional 345,661 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Safehold by 6.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 687,718 shares of the company’s stock valued at $18,039,000 after buying an additional 39,320 shares in the last quarter. Sei Investments Co. grew its stake in Safehold by 3.2% in the 2nd quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock valued at $12,926,000 after acquiring an additional 20,483 shares during the period. Bank of New York Mellon Corp increased its holdings in Safehold by 7.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock worth $9,080,000 after acquiring an additional 34,404 shares in the last quarter. Finally, Peregrine Capital Management LLC raised its position in Safehold by 10.0% during the second quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock worth $7,443,000 after acquiring an additional 35,046 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Wall Street Analyst Weigh In

SAFE has been the subject of a number of research reports. The Goldman Sachs Group cut their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research note on Friday, November 1st. Mizuho increased their target price on Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Thursday, September 19th. Wedbush reiterated a “neutral” rating and set a $23.00 price target (down from $25.00) on shares of Safehold in a research report on Monday, November 4th. Finally, Royal Bank of Canada raised their price objective on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday, October 30th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $28.22.

Safehold Stock Performance

Shares of Safehold stock opened at $21.45 on Friday. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. The business’s 50 day moving average price is $22.54 and its 200 day moving average price is $22.23. The company has a market cap of $1.53 billion, a price-to-earnings ratio of 12.62 and a beta of 1.66. Safehold Inc. has a one year low of $17.91 and a one year high of $28.80.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. Safehold had a net margin of 32.08% and a return on equity of 4.79%. The firm had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. During the same quarter in the previous year, the company posted $0.33 EPS. The company’s revenue was up 6.0% compared to the same quarter last year. On average, research analysts predict that Safehold Inc. will post 1.56 EPS for the current year.

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were issued a dividend of $0.177 per share. The ex-dividend date was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.30%. Safehold’s dividend payout ratio is currently 41.76%.

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.