Safehold (NYSE:SAFE) Announces Earnings Results, Meets Expectations

Safehold (NYSE:SAFE - Get Free Report) issued its earnings results on Monday. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.37, Briefing.com reports. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The business had revenue of $90.70 million during the quarter, compared to analysts' expectations of $89.45 million. During the same quarter in the prior year, the firm earned $0.33 EPS. The business's revenue for the quarter was up 6.0% compared to the same quarter last year.

Safehold Stock Down 4.4 %

NYSE:SAFE traded down $1.04 on Tuesday, hitting $22.48. The stock had a trading volume of 496,022 shares, compared to its average volume of 341,984. The business's fifty day moving average is $25.16 and its 200 day moving average is $21.94. The company has a market cap of $1.61 billion, a PE ratio of -49.96 and a beta of 1.66. The company has a quick ratio of 38.83, a current ratio of 38.83 and a debt-to-equity ratio of 1.76. Safehold has a 52 week low of $15.35 and a 52 week high of $28.80.

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 15th. Shareholders of record on Monday, September 30th were issued a $0.177 dividend. The ex-dividend date of this dividend was Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 3.15%. Safehold's payout ratio is currently -155.56%.

Analyst Ratings Changes

Several brokerages have recently weighed in on SAFE. Raymond James raised Safehold from a "market perform" rating to an "outperform" rating and set a $34.00 price target for the company in a research note on Thursday, September 19th. Truist Financial increased their price target on Safehold from $21.00 to $22.00 and gave the company a "hold" rating in a research note on Monday, August 5th. JMP Securities reissued a "market outperform" rating and issued a $35.00 price target on shares of Safehold in a research note on Tuesday. The Goldman Sachs Group increased their price target on Safehold from $25.00 to $38.00 and gave the company a "buy" rating in a research note on Wednesday, September 18th. Finally, Wedbush increased their price target on Safehold from $20.00 to $25.00 and gave the company 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 given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price 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.