Safehold (NYSE:SAFE) Posts Earnings Results, Meets Estimates

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

Safehold Stock Performance

Shares of SAFE traded down $0.03 during trading hours on Wednesday, reaching $16.53. 436,359 shares of the company’s stock traded hands, compared to its average volume of 539,703. Safehold has a twelve month low of $15.55 and a twelve month high of $28.80. The firm has a market capitalization of $1.18 billion, a price-to-earnings ratio of 9.72 and a beta of 1.66. The business’s fifty day simple moving average is $18.49 and its two-hundred day simple moving average is $21.85. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83.

Safehold Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Monday, December 30th were given a dividend of $0.177 per share. The ex-dividend date was Monday, December 30th. This represents a $0.71 annualized dividend and a dividend yield of 4.28%. Safehold’s dividend payout ratio is presently 41.76%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. JMP Securities reiterated a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a research report on Tuesday, October 29th. Mizuho boosted their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Morgan Stanley downgraded shares of Safehold from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. Wedbush restated a “neutral” rating and issued a $23.00 target price (down from $25.00) on shares of Safehold in a research note on Monday, November 4th. Finally, The Goldman Sachs Group decreased their price target on shares of Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, January 7th. Five research 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, Safehold has an average rating of “Hold” and a consensus target price of $26.00.

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.