Safehold (NYSE:SAFE) Issues Quarterly Earnings Results, Hits Estimates

Safehold (NYSE:SAFE) announced its quarterly earnings data on Wednesday. The company reported $0.36 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.36, Zacks reports. Safehold had a net margin of 32.08% and a return on equity of 4.79%.

Safehold Stock Down 0.2 %

SAFE traded down $0.03 during midday trading on Wednesday, hitting $16.53. 436,359 shares of the company’s stock traded hands, compared to its average volume of 539,703. Safehold has a one year low of $15.55 and a one year high of $28.80. The company has a market cap of $1.18 billion, a PE ratio of 9.72 and a beta of 1.66. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The stock’s fifty day simple moving average is $18.49 and its 200-day simple moving average is $21.85.

Safehold Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Shareholders of record on Monday, December 30th were paid a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.28%. The ex-dividend date was Monday, December 30th. Safehold’s dividend payout ratio (DPR) is currently 41.76%.

Analysts Set New Price Targets

A number of research analysts have recently commented on SAFE shares. Morgan Stanley cut shares of Safehold from an “overweight” rating to an “equal weight” rating and reduced their target price for the stock from $30.00 to $19.00 in a research report on Wednesday, January 15th. JMP Securities reiterated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Tuesday, October 29th. The Goldman Sachs Group cut their price target on Safehold from $29.00 to $24.00 and set a “buy” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada raised their target price on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research note on Wednesday, October 30th. Finally, Wedbush reaffirmed a “neutral” rating and set a $23.00 target price (down from $25.00) on shares of Safehold in a report on Monday, November 4th. Five analysts have rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.00.

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.