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

Safehold (NYSE:SAFE) issued its earnings results on Wednesday. The company reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36, Zacks reports. Safehold had a net margin of 32.08% and a return on equity of 4.79%.

Safehold Stock Performance

SAFE traded down $0.03 on Wednesday, hitting $16.53. 436,359 shares of the company traded hands, compared to its average volume of 539,703. Safehold has a 12-month low of $15.55 and a 12-month high of $28.80. The company has a 50 day moving average of $18.49 and a 200-day moving average of $21.85. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. The stock has a market capitalization of $1.18 billion, a PE ratio of 9.72 and a beta of 1.66.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date of this dividend was Monday, December 30th. Safehold’s dividend payout ratio is currently 41.76%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research report on Tuesday, October 29th. Royal Bank of Canada increased their price target 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. The Goldman Sachs Group reduced their price objective on shares of Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Mizuho lifted their price target on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Morgan Stanley downgraded shares of Safehold from an “overweight” rating to an “equal weight” rating and decreased their price objective for the company from $30.00 to $19.00 in a research note on Wednesday, January 15th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target 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.