Safehold (NYSE:SAFE) Releases Earnings Results, Hits Expectations

Safehold (NYSE:SAFE) posted its earnings results on Monday. The company reported $0.37 EPS for the quarter, meeting analysts’ consensus estimates of $0.37, Briefing.com reports. The firm had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The company’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $0.33 EPS.

Safehold Stock Down 1.1 %

Shares of NYSE:SAFE traded down $0.25 during trading on Thursday, hitting $21.92. The company’s stock had a trading volume of 32,791 shares, compared to its average volume of 341,367. The business has a 50 day moving average price of $25.16 and a two-hundred day moving average price of $21.94. The company has a market capitalization of $1.57 billion, a PE ratio of -48.73 and a beta of 1.66. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83. Safehold has a fifty-two week low of $15.35 and a fifty-two week high of $28.80.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.177 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 3.23%. Safehold’s dividend payout ratio (DPR) is presently -155.56%.

Wall Street Analysts Forecast Growth

SAFE has been the topic of a number of research reports. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research note on Tuesday. Truist Financial raised their price target on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a research note on Monday, August 5th. The Goldman Sachs Group raised their target price on shares of Safehold from $25.00 to $38.00 and gave the stock a “buy” rating in a research note on Wednesday, September 18th. Wedbush raised their target price on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Finally, Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research note on Thursday, September 19th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $29.33.

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. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk.