Safehold (NYSE:SAFE) Posts Quarterly Earnings Results, Meets Estimates

Safehold (NYSE:SAFE) released its earnings results on Wednesday. The company reported $0.36 EPS for the quarter, meeting analysts’ consensus estimates of $0.36, Zacks reports. Safehold had a return on equity of 4.79% and a net margin of 32.08%. During the same period in the previous year, the firm posted $0.36 earnings per share.

Safehold Price Performance

Shares of SAFE stock traded down $0.84 during mid-day trading on Friday, hitting $17.02. The company had a trading volume of 187,342 shares, compared to its average volume of 524,999. 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 stock’s 50 day moving average price is $18.33 and its 200-day moving average price is $21.79. Safehold has a 52-week low of $15.55 and a 52-week high of $28.80. The company has a market capitalization of $1.22 billion, a P/E ratio of 10.02 and a beta of 1.66.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Investors of record on Monday, December 30th were issued a $0.177 dividend. The ex-dividend date of this dividend was Monday, December 30th. This represents a $0.71 dividend on an annualized basis and a yield of 4.16%. Safehold’s dividend payout ratio is presently 41.76%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. Morgan Stanley downgraded shares of Safehold from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $30.00 to $19.00 in a research note on Wednesday, January 15th. The Goldman Sachs Group lowered their price objective on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. JMP Securities reissued a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Thursday. Wedbush reaffirmed a “neutral” rating and issued a $23.00 price target (down previously from $25.00) on shares of Safehold in a research report on Monday, November 4th. Finally, Royal Bank of Canada upped their price target on shares of Safehold from $30.00 to $31.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 30th. Five research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.00.

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.