Safehold (NYSE:SAFE) Posts Earnings Results, Meets Estimates

Safehold (NYSE:SAFE) announced its quarterly 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 during the quarter, compared to the consensus estimate 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 revenue for the quarter was up 6.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.33 EPS.

Safehold Stock Down 1.4 %

Shares of SAFE stock traded down $0.31 during trading hours on Wednesday, reaching $22.17. 521,054 shares of the company’s stock were exchanged, compared to its average volume of 342,837. The stock’s 50 day moving average is $25.16 and its 200-day moving average is $21.94. The company has a market cap of $1.58 billion, a price-to-earnings 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. Safehold has a fifty-two week low of $15.35 and a fifty-two week high of $28.80.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were given a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.19%. The ex-dividend date was Monday, September 30th. Safehold’s payout ratio is presently -155.56%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on SAFE shares. Truist Financial raised their price objective on shares of Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Wedbush raised their price objective 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. The Goldman Sachs Group lifted their price target on shares of Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research note on Wednesday, September 18th. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research note on Tuesday. Finally, Raymond James raised shares of 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. Four investment 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 stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $28.78.

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.