Safehold (NYSE:SAFE) Posts Earnings Results, Beats Estimates By $0.04 EPS

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

Safehold Stock Performance

NYSE SAFE opened at $19.28 on Thursday. The firm has a market capitalization of $1.37 billion, a P/E ratio of -42.84 and a beta of 1.48. Safehold has a 1-year low of $15.00 and a 1-year high of $29.11. The company has a debt-to-equity ratio of 1.78, a current ratio of 36.61 and a quick ratio of 36.61. The business’s 50-day simple moving average is $19.68 and its 200-day simple moving average is $20.09.

Safehold Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 3.67%. The ex-dividend date was Wednesday, March 27th. Safehold’s dividend payout ratio is currently -155.56%.

Wall Street Analyst Weigh In

SAFE has been the subject of a number of research analyst reports. The Goldman Sachs Group raised their price target on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. Mizuho dropped their price objective on Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a research report on Thursday, March 7th. JMP Securities reiterated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research report on Tuesday. JPMorgan Chase & Co. dropped their price objective on Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, Royal Bank of Canada dropped their price objective on Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.44.

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.