Safehold (NYSE:SAFE) Announces Earnings Results

Safehold (NYSE:SAFE) announced its earnings results on Monday. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03, Briefing.com reports. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.68%. The business had revenue of $89.90 million for the quarter, compared to the consensus estimate of $87.28 million. During the same quarter in the prior year, the firm posted $0.35 earnings per share. The business’s revenue for the quarter was up 4.9% on a year-over-year basis.

Safehold Stock Performance

Shares of SAFE traded up $0.04 during trading hours on Wednesday, reaching $23.21. 62,697 shares of the company traded hands, compared to its average volume of 338,189. The stock has a market capitalization of $1.66 billion, a P/E ratio of -51.36 and a beta of 1.65. 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 business has a fifty day moving average price of $19.81 and a 200-day moving average price of $19.97. Safehold has a 12-month low of $15.00 and a 12-month high of $25.02.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.177 per share. The ex-dividend date was Friday, June 28th. This represents a $0.71 annualized dividend and a dividend yield of 3.05%. Safehold’s payout ratio is currently -157.78%.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on SAFE. Mizuho downgraded Safehold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $22.00 to $20.00 in a research report on Friday, May 10th. Wedbush boosted their price target on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a report on Wednesday. JPMorgan Chase & Co. reduced their price target on Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. The Goldman Sachs Group raised their price objective on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, June 28th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a report on Thursday, May 16th. Four 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 has a consensus rating of “Moderate Buy” and an average price target of $27.89.

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.