Insider Buying: Safehold Inc (NYSE:SAFE) Major Shareholder Acquires 22,500 Shares of Stock

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Safehold Inc (NYSE:SAFE) major shareholder Istar Inc. purchased 22,500 shares of the company’s stock in a transaction that occurred on Friday, August 23rd. The shares were acquired at an average price of $28.70 per share, for a total transaction of $645,750.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Major shareholders that own 10% or more 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 Tuesday, August 20th, Istar Inc. purchased 22,500 shares of Safehold stock. The shares were acquired at an average price of $29.04 per share, for a total transaction of $653,400.00.
  • On Thursday, August 15th, Istar Inc. purchased 40,000 shares of Safehold stock. The shares were acquired at an average price of $28.52 per share, for a total transaction of $1,140,800.00.
  • On Friday, August 2nd, Istar Inc. purchased 9,730 shares of Safehold stock. The shares were acquired at an average price of $33.34 per share, for a total transaction of $324,398.20.
  • On Wednesday, July 31st, Istar Inc. purchased 15,000 shares of Safehold stock. The shares were acquired at an average price of $33.42 per share, for a total transaction of $501,300.00.
  • On Friday, July 26th, Istar Inc. purchased 10,000 shares of Safehold stock. The shares were acquired at an average price of $33.35 per share, for a total transaction of $333,500.00.
  • On Wednesday, July 24th, Istar Inc. purchased 15,000 shares of Safehold stock. The shares were acquired at an average price of $33.05 per share, for a total transaction of $495,750.00.
  • On Friday, July 19th, Istar Inc. purchased 15,000 shares of Safehold stock. The shares were acquired at an average price of $32.15 per share, for a total transaction of $482,250.00.
  • On Tuesday, July 16th, Istar Inc. purchased 15,000 shares of Safehold stock. The shares were acquired at an average price of $32.41 per share, for a total transaction of $486,150.00.
  • On Thursday, July 11th, Istar Inc. purchased 15,000 shares of Safehold stock. The shares were acquired at an average price of $32.31 per share, for a total transaction of $484,650.00.
  • On Monday, July 8th, Istar Inc. purchased 15,000 shares of Safehold stock. The shares were acquired at an average price of $31.19 per share, for a total transaction of $467,850.00.

NYSE:SAFE traded down $0.90 during trading hours on Friday, reaching $27.80. The stock had a trading volume of 299,000 shares, compared to its average volume of 71,819. The stock has a 50 day simple moving average of $31.49 and a 200 day simple moving average of $25.91. Safehold Inc has a 12-month low of $16.13 and a 12-month high of $34.14. The stock has a market cap of $996.47 million, a P/E ratio of 43.78 and a beta of 0.26.

Safehold (NYSE:SAFE) last released its earnings results on Friday, July 26th. The company reported $0.18 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.12). Safehold had a return on equity of 4.57% and a net margin of 32.29%. The firm had revenue of $19.68 million during the quarter, compared to analysts’ expectations of $19.77 million. As a group, equities research analysts expect that Safehold Inc will post 1.14 earnings per share for the current year.

A number of research firms have issued reports on SAFE. Barclays raised their target price on Safehold from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Sunday, August 18th. Zacks Investment Research raised Safehold from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a research report on Saturday, August 10th. TheStreet raised Safehold from a “c” rating to a “b-” rating in a research report on Wednesday, August 7th. Finally, ValuEngine downgraded Safehold from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a strong buy rating to the stock. Safehold currently has a consensus rating of “Hold” and a consensus target price of $25.83.

A number of large investors have recently added to or reduced their stakes in the business. UBS Group AG increased its position in Safehold by 4.0% in the second quarter. UBS Group AG now owns 2,023,611 shares of the company’s stock worth $61,113,000 after buying an additional 77,779 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Safehold by 14.3% in the second quarter. Vanguard Group Inc. now owns 568,043 shares of the company’s stock valued at $17,154,000 after purchasing an additional 71,109 shares in the last quarter. BlackRock Inc. grew its position in shares of Safehold by 11.2% in the second quarter. BlackRock Inc. now owns 533,274 shares of the company’s stock valued at $16,105,000 after purchasing an additional 53,799 shares in the last quarter. FMR LLC grew its position in shares of Safehold by 7.7% in the first quarter. FMR LLC now owns 484,299 shares of the company’s stock valued at $10,563,000 after purchasing an additional 34,628 shares in the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of Safehold by 22.3% in the second quarter. Renaissance Technologies LLC now owns 100,009 shares of the company’s stock valued at $3,020,000 after purchasing an additional 18,204 shares in the last quarter. 17.54% of the stock is owned by institutional investors and hedge funds.

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

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