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

Safehold (NYSE:SAFE) released its earnings results on Monday. The company reported $0.37 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.37, Briefing.com reports. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The firm had revenue of $90.70 million for the quarter, compared to the consensus estimate of $89.45 million. During the same period in the prior year, the firm earned $0.33 EPS. The firm’s revenue was up 6.0% on a year-over-year basis.

Safehold Price Performance

Shares of SAFE stock traded down $0.31 during mid-day trading on Wednesday, hitting $22.17. 521,054 shares of the stock were exchanged, compared to its average volume of 342,837. The company has a market cap of $1.58 billion, a PE ratio of -49.27 and a beta of 1.66. Safehold has a 52-week low of $15.35 and a 52-week high of $28.80. The firm has a fifty day moving average of $25.16 and a 200 day moving average of $21.94. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Monday, September 30th were paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 3.19%. The ex-dividend date was Monday, September 30th. Safehold’s payout ratio is currently -155.56%.

Analyst Ratings Changes

Several research firms have commented on SAFE. Truist Financial upped their price target on shares of Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Royal Bank of Canada upped their price target on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Wednesday. Raymond James raised shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Thursday, September 19th. The Goldman Sachs Group upped their price target on shares of Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a report on Wednesday, September 18th. Finally, Wedbush upped 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, July 31st. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, Safehold has an average rating of “Moderate Buy” and an average price target of $28.78.

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.