Guggenheim Capital LLC Trims Position in Safehold Inc (NYSE:SAFE)
Guggenheim Capital LLC lessened its stake in shares of Safehold Inc (NYSE:SAFE) by 32.7% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 231,974 shares of the company’s stock after selling 112,477 shares during the quarter. Guggenheim Capital LLC’s holdings in Safehold were worth $14,668,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the business. Capital Analysts LLC purchased a new stake in Safehold in the fourth quarter worth approximately $29,000. PNC Financial Services Group Inc. boosted its stake in Safehold by 1,040.9% in the first quarter. PNC Financial Services Group Inc. now owns 753 shares of the company’s stock worth $49,000 after buying an additional 687 shares in the last quarter. US Bancorp DE purchased a new stake in Safehold in the fourth quarter worth approximately $68,000. Ameritas Investment Partners Inc. boosted its stake in Safehold by 24.2% in the first quarter. Ameritas Investment Partners Inc. now owns 1,102 shares of the company’s stock worth $70,000 after buying an additional 215 shares in the last quarter. Finally, Advisor Group Inc. boosted its stake in Safehold by 27.4% in the fourth quarter. Advisor Group Inc. now owns 2,484 shares of the company’s stock worth $100,000 after buying an additional 534 shares in the last quarter. 24.33% of the stock is owned by institutional investors and hedge funds.
SAFE stock traded down $2.78 during midday trading on Friday, hitting $57.01. The company had a trading volume of 4,009 shares, compared to its average volume of 198,669. Safehold Inc has a 52 week low of $26.61 and a 52 week high of $67.18. The stock’s 50 day moving average price is $56.04 and its 200 day moving average price is $50.63. The stock has a market cap of $3.08 billion, a price-to-earnings ratio of 63.61 and a beta of -0.40.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th will be issued a dividend of $0.162 per share. This represents a $0.65 dividend on an annualized basis and a dividend yield of 1.14%. The ex-dividend date of this dividend is Monday, June 29th. This is an increase from Safehold’s previous quarterly dividend of $0.16. Safehold’s dividend payout ratio is currently 69.66%.
Several brokerages have issued reports on SAFE. Bank of America began coverage on Safehold in a research note on Thursday, June 11th. They issued a “buy” rating and a $70.00 target price for the company. SunTrust Banks assumed coverage on Safehold in a research report on Sunday, April 19th. They issued a “hold” rating and a $52.00 price objective for the company. Zacks Investment Research upgraded Safehold from a “sell” rating to a “hold” rating in a research report on Wednesday, June 10th. Finally, TheStreet upgraded Safehold from a “c-” rating to a “b” rating in a research report on Monday. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $48.75.
In other Safehold news, major shareholder Istar Inc. bought 1,759,651 shares of the firm’s stock in a transaction that occurred on Tuesday, April 28th. The stock was bought at an average price of $57.16 per share, for a total transaction of $100,581,651.16. 0.53% of the stock is owned by corporate insiders.
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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.
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