Safehold (NYSE:SAFE) Issues Earnings Results, Beats Estimates By $0.04 EPS

Safehold (NYSE:SAFE) posted its earnings results on Monday. The company reported $0.43 EPS for the quarter, beating the consensus estimate of $0.39 by $0.04, Briefing.com reports. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The firm had revenue of $93.20 million for the quarter, compared to analysts’ expectations of $88.20 million. During the same period last year, the firm earned $0.41 EPS. The firm’s revenue was up 19.0% compared to the same quarter last year.

Safehold Stock Up 2.1 %

Shares of SAFE stock traded up $0.41 on Tuesday, reaching $19.50. 56,064 shares of the company’s stock traded hands, compared to its average volume of 338,844. The company has a market capitalization of $1.39 billion, a P/E ratio of -24.69 and a beta of 1.48. Safehold has a 12-month low of $15.00 and a 12-month high of $29.11. The company has a debt-to-equity ratio of 1.78, a quick ratio of 36.61 and a current ratio of 36.61. The business’s 50 day moving average price is $19.69 and its two-hundred day moving average price is $20.06.

Safehold Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were issued a $0.177 dividend. The ex-dividend date of this dividend was Wednesday, March 27th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.63%. Safehold’s payout ratio is currently -87.65%.

Wall Street Analyst Weigh In

SAFE has been the topic of a number of research analyst reports. JMP Securities assumed coverage on Safehold in a report on Tuesday, January 23rd. They set an “outperform” rating and a $35.00 price target on the stock. JPMorgan Chase & Co. decreased their price objective on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a report on Wednesday, April 17th. Royal Bank of Canada lowered their price objective on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating on the stock in a research note on Thursday, February 15th. The Goldman Sachs Group upped their price objective on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a report on Thursday, January 11th. Finally, Mizuho lowered their target price on Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a report on Thursday, March 7th. Three equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.78.

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.