Safehold Inc. (NYSE:SAFE) Major Shareholder Acquires $999,954.00 in Stock

Safehold Inc. (NYSE:SAFE) major shareholder Istar Inc. bought 13,698 shares of the firm’s stock in a transaction that occurred on Monday, June 7th. The stock was purchased at an average price of $73.00 per share, for a total transaction of $999,954.00. Following the completion of the transaction, the insider now directly owns 35,161,662 shares of the company’s stock, valued at approximately $2,566,801,326. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

Istar Inc. also recently made the following trade(s):

  • On Wednesday, June 9th, Istar Inc. bought 13,519 shares of Safehold stock. The stock was purchased at an average price of $73.97 per share, for a total transaction of $1,000,000.43.
  • On Thursday, June 3rd, Istar Inc. acquired 14,087 shares of Safehold stock. The shares were bought at an average price of $70.98 per share, for a total transaction of $999,895.26.
  • On Tuesday, June 1st, Istar Inc. acquired 14,071 shares of Safehold stock. The shares were bought at an average price of $71.06 per share, for a total transaction of $999,885.26.
  • On Friday, May 28th, Istar Inc. acquired 14,253 shares of Safehold stock. The shares were bought at an average price of $70.16 per share, for a total transaction of $999,990.48.
  • On Wednesday, May 26th, Istar Inc. acquired 13,997 shares of Safehold stock. The shares were bought at an average price of $71.44 per share, for a total transaction of $999,945.68.
  • On Monday, May 24th, Istar Inc. acquired 14,082 shares of Safehold stock. The shares were bought at an average price of $71.01 per share, for a total transaction of $999,962.82.

Shares of SAFE traded up $2.26 during mid-day trading on Thursday, reaching $76.30. 86,731 shares of the company’s stock traded hands, compared to its average volume of 114,649. The stock has a market capitalization of $4.06 billion, a PE ratio of 67.52 and a beta of -0.48. The firm’s 50-day moving average is $69.93. Safehold Inc. has a 12 month low of $47.51 and a 12 month high of $84.99.

Safehold (NYSE:SAFE) last released its earnings results on Thursday, April 22nd. The company reported $0.32 EPS for the quarter, meeting analysts’ consensus estimates of $0.32. The firm had revenue of $43.50 million for the quarter, compared to analysts’ expectations of $43.10 million. Safehold had a return on equity of 4.47% and a net margin of 37.11%. On average, research analysts expect that Safehold Inc. will post 1.42 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 15th. Investors of record on Wednesday, March 31st were paid a $0.1623 dividend. The ex-dividend date was Tuesday, March 30th. This represents a $0.65 annualized dividend and a yield of 0.85%. Safehold’s dividend payout ratio (DPR) is currently 55.56%.

A number of large investors have recently made changes to their positions in SAFE. Alliancebernstein L.P. grew its stake in Safehold by 2,059.5% in the fourth quarter. Alliancebernstein L.P. now owns 655,890 shares of the company’s stock worth $47,545,000 after purchasing an additional 625,518 shares in the last quarter. BlackRock Inc. grew its stake in Safehold by 8.3% in the fourth quarter. BlackRock Inc. now owns 2,572,143 shares of the company’s stock worth $186,456,000 after purchasing an additional 196,134 shares in the last quarter. Norges Bank bought a new position in Safehold in the fourth quarter worth approximately $14,160,000. B&I Capital AG bought a new position in Safehold in the first quarter worth approximately $11,929,000. Finally, Amundi Pioneer Asset Management Inc. grew its stake in Safehold by 275.5% in the fourth quarter. Amundi Pioneer Asset Management Inc. now owns 160,265 shares of the company’s stock worth $11,618,000 after purchasing an additional 117,587 shares in the last quarter. 28.23% of the stock is currently owned by institutional investors.

SAFE has been the topic of a number of recent research reports. Zacks Investment Research downgraded Safehold from a “buy” rating to a “hold” rating in a research report on Thursday, May 6th. The Goldman Sachs Group decreased their price objective on Safehold from $112.00 to $95.00 and set a “buy” rating on the stock in a research report on Wednesday, March 31st. Finally, Mizuho upped their target price on Safehold from $75.00 to $85.00 and gave the company a “buy” rating in a research note on Friday, February 12th. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company’s stock. Safehold has a consensus rating of “Buy” and a consensus price target of $81.60.

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. 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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Insider Buying and Selling by Quarter for Safehold (NYSE:SAFE)

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