Safehold (NYSE:SAFE) Releases Quarterly Earnings Results, Meets Expectations

Safehold (NYSE:SAFE) announced its quarterly earnings data on Monday. The company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37, Briefing.com reports. The business had revenue of $90.70 million during the quarter, compared to analyst estimates of $89.45 million. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The company’s revenue was up 6.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.33 earnings per share.

Safehold Trading Down 1.7 %

SAFE traded down $0.41 during mid-day trading on Tuesday, reaching $23.11. The stock had a trading volume of 52,925 shares, compared to its average volume of 339,864. The stock has a market capitalization of $1.65 billion, a P/E ratio of -51.20 and a beta of 1.66. The company has a debt-to-equity ratio of 1.76, a quick ratio of 38.83 and a current ratio of 38.83. The firm’s fifty day simple moving average is $25.18 and its two-hundred day simple moving average is $21.92. Safehold has a 52 week low of $15.35 and a 52 week high of $28.80.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a dividend of $0.177 per share. 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 3.06%. Safehold’s dividend payout ratio is -155.56%.

Analysts Set New Price Targets

SAFE has been the topic of a number of recent analyst reports. Truist Financial boosted their target price on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research report on Monday, August 5th. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price on the stock in a research report on Thursday, September 19th. The Goldman Sachs Group upped their target price on Safehold from $25.00 to $38.00 and gave the stock a “buy” rating in a research report on Wednesday, September 18th. Finally, Wedbush upped their price target on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company currently 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.