Safehold (NYSE:SAFE) Issues Earnings Results, Meets Expectations

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

Safehold Price Performance

SAFE stock traded down $0.18 during trading on Thursday, hitting $21.99. The company had a trading volume of 14,393 shares, compared to its average volume of 341,280. The company has a market cap of $1.57 billion, a P/E ratio of -49.27 and a beta of 1.66. The company has a current ratio of 38.83, a quick ratio of 38.83 and a debt-to-equity ratio of 1.76. The company has a fifty day moving average price of $25.16 and a two-hundred day moving average price of $21.94. Safehold has a fifty-two week low of $15.35 and a fifty-two week high of $28.80.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were given a $0.177 dividend. This represents a $0.71 annualized dividend and a yield of 3.22%. The ex-dividend date of this dividend was Monday, September 30th. Safehold’s dividend payout ratio (DPR) is presently -155.56%.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. The Goldman Sachs Group upped their price objective on Safehold from $25.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a research note on Thursday, September 19th. Wedbush lifted their target price on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a report on Tuesday. Finally, Royal Bank of Canada boosted their price target on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat, Safehold has a consensus rating of “Moderate Buy” and a consensus price target of $28.78.

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. 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.