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

Safehold (NYSE:SAFE) announced its quarterly earnings data on Wednesday. The company reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36, Zacks reports. Safehold had a net margin of 32.08% and a return on equity of 4.79%. During the same quarter in the prior year, the firm posted $0.36 earnings per share.

Safehold Stock Up 2.8 %

Shares of SAFE traded up $0.47 during mid-day trading on Thursday, hitting $17.02. 29,083 shares of the company’s stock were exchanged, compared to its average volume of 517,758. The firm has a fifty day moving average of $18.40 and a two-hundred day moving average of $21.81. Safehold has a twelve month low of $15.55 and a twelve month high of $28.80. The stock has a market cap of $1.22 billion, a price-to-earnings ratio of 10.08 and a beta of 1.66. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were paid a dividend of $0.177 per share. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.71 annualized dividend and a dividend yield of 4.16%. Safehold’s dividend payout ratio (DPR) is 41.76%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on SAFE shares. Morgan Stanley lowered shares of Safehold from an “overweight” rating to an “equal weight” rating and reduced their price target for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 price target on shares of Safehold in a research note on Tuesday, October 29th. Wedbush reaffirmed a “neutral” rating and issued a $23.00 price target (down from $25.00) on shares of Safehold in a research note on Monday, November 4th. The Goldman Sachs Group cut their target price on shares of Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Finally, Royal Bank of Canada increased their target price on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, Safehold presently has a consensus rating of “Hold” and a consensus target price of $26.00.

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.