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

Safehold (NYSE:SAFE) released its 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

Safehold stock traded down $0.03 during midday trading on Wednesday, reaching $16.53. 436,359 shares of the company’s stock were exchanged, compared to its average volume of 539,703. The stock’s 50-day simple moving average is $18.49 and its 200 day simple moving average is $21.85. The firm has a market cap of $1.18 billion, a price-to-earnings ratio of 9.72 and a beta of 1.66. The company has a debt-to-equity ratio of 1.85, a quick ratio of 37.83 and a current ratio of 37.83. Safehold has a 52 week low of $15.55 and a 52 week high of $28.80.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were paid a $0.177 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.71 annualized dividend and a yield of 4.28%. Safehold’s dividend payout ratio (DPR) is currently 41.76%.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on SAFE shares. Morgan Stanley lowered shares of Safehold from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $30.00 to $19.00 in a report on Wednesday, January 15th. Royal Bank of Canada upped their price target on Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Mizuho boosted their price objective on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Tuesday, October 29th. Finally, Wedbush reissued a “neutral” rating and set a $23.00 price target (down from $25.00) on shares of Safehold in a research report on Monday, November 4th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.