Safehold Inc. Declares Quarterly Dividend of $0.18 (NYSE:SAFE)

Safehold Inc. (NYSE:SAFE) declared a quarterly dividend on Friday, March 14th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.177 per share on Tuesday, April 15th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.92%. The ex-dividend date is Monday, March 31st.

Safehold has decreased its dividend payment by an average of 38.4% annually over the last three years. Safehold has a payout ratio of 43.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Safehold to earn $1.61 per share next year, which means the company should continue to be able to cover its $0.71 annual dividend with an expected future payout ratio of 44.1%.

Safehold Trading Down 1.1 %

NYSE:SAFE opened at $18.06 on Friday. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 12.20 and a beta of 1.75. Safehold has a 1 year low of $15.55 and a 1 year high of $28.80. The stock has a fifty day moving average price of $17.61 and a two-hundred day moving average price of $20.38. The company has a debt-to-equity ratio of 1.82, a quick ratio of 36.59 and a current ratio of 36.59.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Wednesday, February 5th. The company reported $0.36 earnings per share for the quarter, meeting the consensus estimate of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same period in the prior year, the company posted $0.36 earnings per share. As a group, sell-side analysts anticipate that Safehold will post 1.58 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have weighed in on SAFE shares. Wedbush reissued a “neutral” rating and set a $19.00 price target (down previously from $20.00) on shares of Safehold in a research report on Friday, February 7th. The Goldman Sachs Group cut their price objective on shares of Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Morgan Stanley downgraded Safehold from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $30.00 to $19.00 in a report on Wednesday, January 15th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a report on Thursday, February 6th. Five equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $25.56.

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.