Angeles Wealth Management LLC Buys New Stake in Safehold Inc. (NYSE:SAFE)

Angeles Wealth Management LLC purchased a new stake in shares of Safehold Inc. (NYSE:SAFE) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 30,319 shares of the company’s stock, valued at approximately $585,000.

Several other institutional investors have also bought and sold shares of SAFE. GAMMA Investing LLC increased its holdings in shares of Safehold by 49.3% in the 1st quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock worth $44,000 after buying an additional 702 shares during the last quarter. Roble Belko & Company Inc purchased a new position in Safehold in the first quarter worth about $45,000. PNC Financial Services Group Inc. increased its stake in Safehold by 65.6% during the fourth quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock worth $175,000 after acquiring an additional 2,965 shares during the last quarter. ProShare Advisors LLC raised its position in Safehold by 7.5% during the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after purchasing an additional 676 shares during the period. Finally, Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in Safehold during the second quarter valued at approximately $204,000. Institutional investors own 70.38% of the company’s stock.

Safehold Trading Up 2.7 %

SAFE stock opened at $25.30 on Wednesday. Safehold Inc. has a 12 month low of $15.00 and a 12 month high of $26.05. The firm’s 50-day moving average is $22.87 and its 200 day moving average is $20.68. The company has a market capitalization of $1.81 billion, a PE ratio of -56.22 and a beta of 1.65. The company has a debt-to-equity ratio of 1.76, a current ratio of 38.83 and a quick ratio of 38.83.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, July 29th. The company reported $0.41 EPS for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. The business had revenue of $89.90 million for the quarter, compared to analyst estimates of $87.28 million. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The company’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period last year, the company posted $0.35 earnings per share. On average, research analysts anticipate that Safehold Inc. will post 1.59 EPS for the current year.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 2.80%. The ex-dividend date of this dividend was Friday, June 28th. Safehold’s dividend payout ratio (DPR) is presently -157.78%.

Analyst Ratings Changes

A number of brokerages have recently commented on SAFE. Truist Financial lifted their target price on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. The Goldman Sachs Group lifted their price objective on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Thursday, May 16th. Finally, Wedbush raised their target price on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Four analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $26.75.

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.