Safehold (NYSE:SAFE) Releases Quarterly Earnings Results, Beats Estimates By $0.03 EPS

Safehold (NYSE:SAFE) posted its quarterly earnings results on Monday. The company reported $0.41 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 previous year, the business posted $0.35 EPS. The company’s quarterly revenue was up 4.9% on a year-over-year basis.

Safehold Price Performance

Shares of SAFE stock traded down $0.03 during midday trading on Wednesday, reaching $23.14. 451,883 shares of the company were exchanged, compared to its average volume of 340,855. Safehold has a 12 month low of $15.00 and a 12 month high of $25.02. The company has a market cap of $1.65 billion, a P/E ratio of -51.42 and a beta of 1.65. The company’s 50 day moving average price is $19.81 and its two-hundred day moving average price is $19.97. The company has a debt-to-equity ratio of 1.78, a quick ratio of 42.51 and a current ratio of 42.51.

Safehold Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, July 15th. Shareholders of record on Friday, June 28th were given a dividend of $0.177 per share. The ex-dividend date was Friday, June 28th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.06%. Safehold’s dividend payout ratio (DPR) is -157.78%.

Wall Street Analysts Forecast Growth

SAFE has been the subject of several research reports. The Goldman Sachs Group lifted their price target on shares of Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a report on Friday, June 28th. Royal Bank of Canada reduced their target price on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. Wedbush boosted their target price on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Wednesday. JMP Securities reissued a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research note on Thursday, May 16th. Finally, Mizuho lowered shares of Safehold from a “buy” rating to a “neutral” rating and reduced their target price for the company from $22.00 to $20.00 in a research note on Friday, May 10th. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $27.89.

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.