Safehold (NYSE:SAFE) Issues Quarterly Earnings Results

Safehold (NYSE:SAFE) announced its earnings results on Monday. The company reported $0.41 earnings per share for the quarter, beating the consensus estimate of $0.38 by $0.03, Briefing.com reports. The firm had revenue of $89.90 million for the quarter, compared to the consensus estimate of $87.28 million. Safehold had a positive return on equity of 4.43% and a negative net margin of 7.87%. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.35 EPS.

Safehold Price Performance

Shares of NYSE SAFE traded down $0.49 during mid-day trading on Tuesday, reaching $22.14. The company had a trading volume of 31,224 shares, compared to its average volume of 338,404. The company has a current ratio of 42.51, a quick ratio of 42.51 and a debt-to-equity ratio of 1.78. The stock has a market cap of $1.58 billion, a PE ratio of -50.29 and a beta of 1.65. The company has a 50-day moving average price of $19.75 and a two-hundred day moving average price of $19.96. Safehold has a 1-year low of $15.00 and a 1-year high of $25.02.

Safehold Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were issued a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.20%. The ex-dividend date of this dividend was Friday, June 28th. Safehold’s payout ratio is -157.78%.

Wall Street Analyst Weigh In

SAFE has been the topic of several recent analyst reports. Mizuho downgraded Safehold from a “buy” rating to a “neutral” rating and cut their target price for the company from $22.00 to $20.00 in a research note on Friday, May 10th. The Goldman Sachs Group lifted their target price on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Friday, June 28th. Royal Bank of Canada lowered their price target on Safehold from $32.00 to $29.00 and set an “outperform” rating on the stock in a research report on Wednesday, May 8th. JPMorgan Chase & Co. lowered their price target on Safehold from $23.00 to $21.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 17th. Finally, JMP Securities reiterated a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research report on Thursday, May 16th. Four analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat, Safehold presently has an average rating of “Moderate Buy” and a consensus target price of $27.22.

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.