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

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

Safehold Stock Performance

SAFE stock opened at $22.48 on Wednesday. The firm has a 50-day simple moving average of $25.16 and a two-hundred day simple moving average of $21.94. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83. Safehold has a one year low of $15.35 and a one year high of $28.80. The firm has a market cap of $1.61 billion, a price-to-earnings ratio of -49.96 and a beta of 1.66.

Safehold Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.177 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.71 dividend on an annualized basis and a yield of 3.15%. Safehold’s dividend payout ratio is presently -155.56%.

Wall Street Analyst Weigh In

A number of brokerages have commented on SAFE. Raymond James upgraded shares of Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research note on Thursday, September 19th. Wedbush increased their price objective on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. The Goldman Sachs Group lifted their target price on Safehold from $25.00 to $38.00 and gave the company a “buy” rating in a research report on Wednesday, September 18th. Truist Financial increased their price target on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Finally, JMP Securities restated a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research note on Tuesday. Four research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Safehold presently has a consensus rating of “Moderate Buy” and an average price target of $28.56.

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.