Safehold (NYSE:SAFE) Announces Quarterly Earnings Results

Safehold (NYSE:SAFE) announced its quarterly earnings data on Monday. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.39 by $0.04, Briefing.com reports. Safehold had a negative net margin of 15.59% and a positive return on equity of 4.31%. The company had revenue of $93.20 million during the quarter, compared to analysts’ expectations of $88.20 million. During the same quarter in the prior year, the company posted $0.41 EPS. The business’s revenue was up 19.0% on a year-over-year basis.

Safehold Stock Up 4.8 %

Shares of Safehold stock opened at $20.00 on Tuesday. The business has a fifty day simple moving average of $19.69 and a 200 day simple moving average of $20.06. The stock has a market cap of $1.43 billion, a PE ratio of -24.93 and a beta of 1.48. The company has a quick ratio of 36.61, a current ratio of 36.61 and a debt-to-equity ratio of 1.78. Safehold has a 12 month low of $15.00 and a 12 month high of $29.11.

Safehold Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a dividend of $0.177 per share. This represents a $0.71 dividend on an annualized basis and a yield of 3.54%. The ex-dividend date of this dividend was Wednesday, March 27th. Safehold’s dividend payout ratio is presently -87.65%.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Mizuho cut their target price on Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. The Goldman Sachs Group boosted their price objective on Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. JMP Securities assumed coverage on shares of Safehold in a research report on Tuesday, January 23rd. They set an “outperform” rating and a $35.00 price target on the stock. Royal Bank of Canada lowered their price objective on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating for the company in a research report on Thursday, February 15th. Finally, JPMorgan Chase & Co. reduced their target price on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Safehold has a consensus rating of “Moderate Buy” and an average price target of $27.78.

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.