Allstate Corp Has $886,000 Stock Holdings in Safehold Inc. $SAFE

Allstate Corp raised its stake in Safehold Inc. (NYSE:SAFE) by 175.7% during the 4th quarter, Holdings Channel reports. The institutional investor owned 64,736 shares of the company’s stock after purchasing an additional 41,252 shares during the quarter. Allstate Corp’s holdings in Safehold were worth $886,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in SAFE. Royal Bank of Canada increased its stake in Safehold by 21.1% in the 1st quarter. Royal Bank of Canada now owns 44,462 shares of the company’s stock valued at $833,000 after buying an additional 7,743 shares during the period. Amundi increased its stake in shares of Safehold by 2.6% during the 1st quarter. Amundi now owns 50,855 shares of the company’s stock worth $906,000 after purchasing an additional 1,306 shares during the last quarter. AQR Capital Management LLC increased its stake in shares of Safehold by 1,106.2% during the 1st quarter. AQR Capital Management LLC now owns 195,530 shares of the company’s stock worth $3,660,000 after purchasing an additional 179,319 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Safehold by 4.4% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company’s stock worth $576,000 after purchasing an additional 1,308 shares during the last quarter. Finally, Goldman Sachs Group Inc. increased its stake in shares of Safehold by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company’s stock worth $8,120,000 after purchasing an additional 15,280 shares during the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Price Performance

NYSE SAFE opened at $14.97 on Friday. The company has a current ratio of 35.58, a quick ratio of 35.59 and a debt-to-equity ratio of 1.91. The company has a fifty day simple moving average of $14.73 and a 200 day simple moving average of $14.52. The company has a market cap of $1.07 billion, a P/E ratio of 9.41, a P/E/G ratio of 1.91 and a beta of 1.86. Safehold Inc. has a 1 year low of $12.76 and a 1 year high of $17.16.

Safehold (NYSE:SAFE) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.40 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.43 by ($0.03). The firm had revenue of $110.85 million for the quarter, compared to the consensus estimate of $96.51 million. Safehold had a return on equity of 4.78% and a net margin of 28.58%. On average, sell-side analysts predict that Safehold Inc. will post 1.64 EPS for the current year.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 4.7%. The ex-dividend date of this dividend was Tuesday, March 31st. Safehold’s dividend payout ratio is currently 44.65%.

Wall Street Analyst Weigh In

Several research analysts have recently commented on SAFE shares. Zacks Research lowered shares of Safehold from a “hold” rating to a “strong sell” rating in a research note on Wednesday. Royal Bank Of Canada lowered shares of Safehold from a “market outperform” rating to a “sector perform” rating and dropped their price target for the stock from $18.00 to $16.00 in a research note on Friday, May 1st. The Goldman Sachs Group dropped their price target on shares of Safehold from $27.00 to $23.00 and set a “buy” rating on the stock in a research note on Friday, May 15th. Truist Financial increased their price target on shares of Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a research note on Wednesday, February 18th. Finally, Wall Street Zen lowered shares of Safehold from a “hold” rating to a “sell” rating in a research note on Saturday, May 2nd. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $18.75.

Safehold Company Profile

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.