Peregrine Capital Management LLC Purchases 35,046 Shares of Safehold Inc. (NYSE:SAFE)

Peregrine Capital Management LLC lifted its position in shares of Safehold Inc. (NYSE:SAFE) by 10.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 385,858 shares of the company’s stock after acquiring an additional 35,046 shares during the period. Peregrine Capital Management LLC owned approximately 0.54% of Safehold worth $7,443,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in Safehold during the fourth quarter valued at approximately $33,000. Roble Belko & Company Inc bought a new position in shares of Safehold in the 1st quarter valued at $45,000. PNC Financial Services Group Inc. raised its holdings in shares of Safehold by 65.6% during the 4th quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock worth $175,000 after buying an additional 2,965 shares in the last quarter. ProShare Advisors LLC lifted its position in shares of Safehold by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after buying an additional 676 shares during the last quarter. Finally, abrdn plc acquired a new stake in Safehold in the fourth quarter valued at about $211,000. Institutional investors own 70.38% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on SAFE shares. Mizuho downgraded Safehold from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $22.00 to $20.00 in a research note on Friday, May 10th. The Goldman Sachs Group upped their price objective on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Friday, June 28th. Truist Financial raised their target price on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research report on Monday, August 5th. Royal Bank of Canada decreased their target price on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating on the stock in a research note on Wednesday, May 8th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research note on Thursday, May 16th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, Safehold presently has an average rating of “Moderate Buy” and an average target price of $28.22.

Safehold Trading Up 1.0 %

Shares of Safehold stock traded up $0.26 during trading on Friday, hitting $25.06. The company’s stock had a trading volume of 350,139 shares, compared to its average volume of 336,066. The stock has a market cap of $1.79 billion, a price-to-earnings ratio of -55.69 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 42.51. Safehold Inc. has a 52 week low of $15.00 and a 52 week high of $26.05. The stock has a 50-day moving average price of $22.04 and a two-hundred day moving average price of $20.48.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, July 29th. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The company had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $87.28 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s quarterly revenue was up 4.9% on a year-over-year basis. Equities research analysts anticipate that Safehold Inc. will post 1.59 EPS for the current fiscal 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 2.83%. The ex-dividend date of this dividend was Friday, June 28th. Safehold’s dividend payout ratio is presently -155.56%.

About Safehold

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.