Safehold Inc. to Issue Quarterly Dividend of $0.18 (NYSE:SAFE)

Safehold Inc. (NYSE:SAFE) announced a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Shareholders of record on Monday, December 30th will be paid a dividend of 0.177 per share on Wednesday, January 15th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.47%. The ex-dividend date is Monday, December 30th.

Safehold has a payout ratio of 44.1% meaning its dividend is sufficiently covered by earnings. Research analysts expect Safehold to earn $1.61 per share next year, which means the company should continue to be able to cover its $0.71 annual dividend with an expected future payout ratio of 44.1%.

Safehold Stock Down 0.3 %

Shares of Safehold stock traded down $0.07 during trading on Friday, hitting $20.43. 271,085 shares of the stock were exchanged, compared to its average volume of 346,095. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The firm’s 50-day moving average price is $21.95 and its 200 day moving average price is $22.27. The stock has a market cap of $1.46 billion, a price-to-earnings ratio of 12.02 and a beta of 1.66. Safehold has a 12-month low of $17.91 and a 12-month high of $28.80.

Safehold (NYSE:SAFE) last posted its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.37. The company had revenue of $90.70 million for the quarter, compared to analysts’ expectations of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. Safehold’s quarterly revenue was up 6.0% on a year-over-year basis. During the same period last year, the firm earned $0.33 earnings per share. As a group, analysts forecast that Safehold will post 1.56 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several brokerages have recently weighed in on SAFE. Royal Bank of Canada boosted their price objective on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 target price for the company in a research report on Thursday, September 19th. Wedbush reaffirmed a “neutral” rating and set a $23.00 price target (down previously from $25.00) on shares of Safehold in a research report on Monday, November 4th. JMP Securities reissued a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a report on Tuesday, October 29th. Finally, The Goldman Sachs Group cut their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Four research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $28.22.

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.