Safehold Inc. (SAFE) To Go Ex-Dividend on June 28th

Safehold Inc. (NYSE:SAFE) announced a quarterly dividend on Friday, June 14th, Zacks reports. Stockholders of record on Friday, June 28th will be given a dividend of 0.177 per share on Monday, July 15th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.78%. The ex-dividend date is Friday, June 28th.

Safehold has a dividend payout ratio of 43.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Safehold to earn $1.68 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 42.3%.

Safehold Trading Up 0.4 %

NYSE:SAFE opened at $18.75 on Friday. The company’s 50 day moving average price is $19.23 and its 200-day moving average price is $20.46. Safehold has a 52 week low of $15.00 and a 52 week high of $26.33. The company has a quick ratio of 42.51, a current ratio of 42.51 and a debt-to-equity ratio of 1.78. The stock has a market cap of $1.34 billion, a price-to-earnings ratio of -41.67 and a beta of 1.66.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, May 6th. The company reported $0.43 EPS for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04. Safehold had a negative net margin of 7.87% and a positive return on equity of 4.43%. The firm had revenue of $93.20 million for the quarter, compared to analysts’ expectations of $88.20 million. During the same quarter in the prior year, the company posted $0.41 earnings per share. The business’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, equities research analysts forecast that Safehold will post 1.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have recently commented on SAFE shares. Mizuho cut shares of Safehold from a “buy” rating to a “neutral” rating and cut their price target for the company from $22.00 to $20.00 in a report on Friday, May 10th. JPMorgan Chase & Co. lowered their price objective on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. JMP Securities restated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research report on Thursday, May 16th. Finally, Royal Bank of Canada lowered their price objective on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.22.

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.