Cubist Systematic Strategies LLC Raises Position in Safehold Inc. (NYSE:SAFE)

Cubist Systematic Strategies LLC grew its holdings in shares of Safehold Inc. (NYSE:SAFE) by 76.6% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,053 shares of the company’s stock after purchasing an additional 2,192 shares during the period. Cubist Systematic Strategies LLC’s holdings in Safehold were worth $397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. FFT Wealth Management LLC purchased a new stake in Safehold in the second quarter valued at approximately $43,000. Schroder Investment Management Group purchased a new stake in Safehold in the first quarter valued at approximately $41,000. PNC Financial Services Group Inc. boosted its position in Safehold by 10.8% in the second quarter. PNC Financial Services Group Inc. now owns 1,128 shares of the company’s stock valued at $88,000 after buying an additional 110 shares during the last quarter. Centaurus Financial Inc. purchased a new stake in Safehold in the second quarter valued at approximately $107,000. Finally, Mutual of America Capital Management LLC boosted its position in Safehold by 6.5% in the second quarter. Mutual of America Capital Management LLC now owns 2,044 shares of the company’s stock valued at $160,000 after buying an additional 124 shares during the last quarter. Hedge funds and other institutional investors own 25.61% of the company’s stock.

In other Safehold news, major shareholder Istar Inc. purchased 6,872 shares of the business’s stock in a transaction on Wednesday, November 24th. The shares were bought at an average cost of $72.74 per share, for a total transaction of $499,869.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Dean S. Adler sold 30,000 shares of the company’s stock in a transaction that occurred on Wednesday, September 1st. The stock was sold at an average price of $90.24, for a total transaction of $2,707,200.00. The disclosure for this sale can be found here. Over the last quarter, insiders have bought 893,578 shares of company stock valued at $67,412,911 and have sold 70,000 shares valued at $6,268,450. Corporate insiders own 1.34% of the company’s stock.

A number of equities research analysts recently commented on the company. Zacks Investment Research upgraded Safehold from a “sell” rating to a “hold” rating in a research report on Wednesday, October 27th. Truist upped their price objective on Safehold from $72.00 to $80.00 and gave the stock a “hold” rating in a research report on Friday, July 30th. Finally, Truist Securities upped their price objective on Safehold from $72.00 to $80.00 and gave the stock a “hold” rating in a research report on Saturday, July 31st. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $84.01.

NYSE SAFE opened at $72.82 on Thursday. The stock has a market cap of $4.12 billion, a PE ratio of 57.34 and a beta of -0.31. Safehold Inc. has a twelve month low of $64.01 and a twelve month high of $95.29. The business’s fifty day simple moving average is $75.95.

Safehold (NYSE:SAFE) last released its quarterly earnings results on Thursday, October 21st. The company reported $0.38 earnings per share for the quarter, topping analysts’ consensus estimates of $0.35 by $0.03. Safehold had a return on equity of 4.57% and a net margin of 38.37%. During the same quarter in the previous year, the firm posted $0.28 earnings per share. On average, equities analysts forecast that Safehold Inc. will post 1.35 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, October 15th. Stockholders of record on Thursday, September 30th were issued a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend was Wednesday, September 29th. Safehold’s dividend payout ratio is presently 53.54%.

Safehold Profile

Safehold Inc operates as a real estate investment trust, which focuses on acquiring, owning, managing and capitalizing ground leases. It seeks to provide safe & growing income, as well as capital appreciation to shareholders by building a diversified portfolio of ground leases. The firm’s property is generally leased on a triple net basis with the tenant responsible for taxes, maintenance and insurance, as well as all operating costs and capital expenditures.

Recommended Story: What is Call Option Volume?

Want to see what other hedge funds are holding SAFE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Safehold Inc. (NYSE:SAFE).

Institutional Ownership by Quarter for Safehold (NYSE:SAFE)

Receive News & Ratings for Safehold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safehold and related companies with MarketBeat.com's FREE daily email newsletter.