Safehold (NYSE:SAFE) Announces Quarterly Earnings Results

Safehold (NYSE:SAFE) posted its quarterly earnings results on Monday. The company reported $0.41 earnings per share (EPS) 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 during the quarter, compared to analyst estimates of $87.28 million. During the same period in the prior year, the business posted $0.35 earnings per share. The company’s revenue was up 4.9% on a year-over-year basis.

Safehold Price Performance

NYSE:SAFE traded down $0.03 during trading hours on Wednesday, hitting $23.14. 451,883 shares of the company’s stock traded hands, compared to its average volume of 340,855. 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’s fifty day simple moving average is $19.81 and its two-hundred day simple moving average is $19.97. Safehold has a 52 week low of $15.00 and a 52 week high of $25.02. The firm has a market cap of $1.65 billion, a P/E ratio of -51.42 and a beta of 1.65.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were paid a $0.177 dividend. The ex-dividend date of this dividend was Friday, June 28th. This represents a $0.71 annualized dividend and a dividend yield of 3.06%. Safehold’s payout ratio is presently -157.78%.

Analyst Upgrades and Downgrades

Several research firms have recently commented on SAFE. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research report on Thursday, May 16th. The Goldman Sachs Group lifted their price target on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Friday, June 28th. Wedbush boosted 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. Mizuho cut Safehold from a “buy” rating to a “neutral” rating and lowered their price target for the stock from $22.00 to $20.00 in a research report on Friday, May 10th. Finally, JPMorgan Chase & Co. lowered their price target on Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research note on Wednesday, April 17th. Four 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 company currently has an average rating of “Moderate Buy” and a consensus 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.