Safehold Inc (NYSE:SAFE) Announces Quarterly Dividend of $0.16

Safehold Inc (NYSE:SAFE) declared a quarterly dividend on Tuesday, September 15th, Zacks reports. Investors of record on Wednesday, September 30th will be paid a dividend of 0.162 per share on Thursday, October 15th. This represents a $0.65 dividend on an annualized basis and a dividend yield of 1.05%. The ex-dividend date of this dividend is Tuesday, September 29th.

Safehold stock traded up $0.41 during trading hours on Wednesday, reaching $61.97. 881 shares of the stock were exchanged, compared to its average volume of 211,256. Safehold has a twelve month low of $29.22 and a twelve month high of $67.18. The company has a market cap of $3.15 billion, a P/E ratio of 61.56 and a beta of -0.41. The stock has a 50 day moving average of $53.58 and a two-hundred day moving average of $54.40.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $0.24 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.04). The firm had revenue of $37.40 million for the quarter, compared to the consensus estimate of $37.64 million. Safehold had a return on equity of 4.48% and a net margin of 35.95%. On average, sell-side analysts predict that Safehold will post 1.22 earnings per share for the current year.

In other Safehold news, major shareholder Istar Inc. acquired 9,224 shares of Safehold stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of $58.75 per share, with a total value of $541,910.00. Following the completion of the purchase, the insider now directly owns 33,623,542 shares in the company, valued at approximately $1,975,383,092.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Dean S. Adler sold 167,604 shares of the stock in a transaction on Monday, August 10th. The shares were sold at an average price of $51.47, for a total value of $8,626,577.88. The disclosure for this sale can be found here. Over the last three months, insiders have bought 78,994 shares of company stock worth $4,291,528 and have sold 292,030 shares worth $15,105,785. Company insiders own 0.53% of the company’s stock.

SAFE has been the topic of a number of research analyst reports. Mizuho raised Safehold from a “neutral” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Monday, July 27th. TheStreet raised Safehold from a “c-” rating to a “b” rating in a research note on Monday, June 22nd. Berenberg Bank initiated coverage on Safehold in a research note on Tuesday, June 30th. They set a “buy” rating and a $80.00 target price for the company. Zacks Investment Research downgraded shares of Safehold from a “hold” rating to a “sell” rating in a research note on Wednesday, August 12th. Finally, Bank of America initiated coverage on shares of Safehold in a report on Thursday, June 11th. They set a “buy” rating and a $70.00 price target on the stock. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $55.17.

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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

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Dividend History for Safehold (NYSE:SAFE)

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