Short Interest in Safehold Inc (NYSE:SAFE) Increases By 21.9%

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Safehold Inc (NYSE:SAFE) was the recipient of a significant increase in short interest in the month of June. As of June 30th, there was short interest totalling 630,400 shares, an increase of 21.9% from the May 30th total of 517,300 shares. Approximately 8.7% of the shares of the stock are short sold. Based on an average daily trading volume, of 57,600 shares, the short-interest ratio is currently 10.9 days.

Several equities research analysts have recently weighed in on SAFE shares. ValuEngine cut Viewray from a “buy” rating to a “hold” rating in a research report on Wednesday, April 24th. Zacks Investment Research upgraded HB Fuller from a “sell” rating to a “hold” rating in a research report on Wednesday, July 3rd.

Shares of SAFE opened at $32.52 on Monday. The firm’s 50-day moving average is $29.53. Safehold has a twelve month low of $16.13 and a twelve month high of $33.22. The company has a market capitalization of $595.83 million, a PE ratio of 50.81 and a beta of 0.26.

Safehold (NYSE:SAFE) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.36 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.01). Safehold had a return on equity of 4.50% and a net margin of 31.96%. The business had revenue of $21.80 million for the quarter, compared to analysts’ expectations of $20.81 million. On average, sell-side analysts expect that Safehold will post 1.44 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 15th. Stockholders of record on Friday, June 28th will be issued a dividend of $0.156 per share. This is a positive change from Safehold’s previous quarterly dividend of $0.15. The ex-dividend date is Thursday, June 27th. This represents a $0.62 annualized dividend and a dividend yield of 1.92%. Safehold’s payout ratio is presently 96.88%.

In related news, major shareholder Istar Inc. purchased 5,414 shares of the firm’s stock in a transaction dated Monday, April 22nd. The shares were purchased at an average cost of $23.18 per share, for a total transaction of $125,496.52. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Over the last quarter, insiders have bought 254,751 shares of company stock worth $7,237,619. Company insiders own 1.47% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of SAFE. Nisa Investment Advisors LLC grew its holdings in shares of Safehold by 83.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,561 shares of the company’s stock worth $47,000 after purchasing an additional 711 shares in the last quarter. Barclays PLC grew its holdings in shares of Safehold by 46.3% during the fourth quarter. Barclays PLC now owns 5,193 shares of the company’s stock worth $97,000 after purchasing an additional 1,643 shares in the last quarter. Rhumbline Advisers purchased a new position in shares of Safehold during the fourth quarter worth about $218,000. Pinnacle Associates Ltd. grew its holdings in shares of Safehold by 10.5% during the first quarter. Pinnacle Associates Ltd. now owns 18,225 shares of the company’s stock worth $397,000 after purchasing an additional 1,725 shares in the last quarter. Finally, Angeles Investment Advisors LLC purchased a new position in shares of Safehold during the first quarter worth about $414,000. 34.19% of the stock is owned by institutional investors.

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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