Safehold Inc. (NYSE:SAFE) Declares $0.18 Quarterly Dividend

Safehold Inc. (NYSE:SAFE) declared a quarterly dividend on Friday, March 15th, Wall Street Journal reports. Investors of record on Thursday, March 28th will be given a dividend of 0.177 per share on Monday, April 15th. This represents a $0.71 dividend on an annualized basis and a yield of 3.47%. The ex-dividend date is Wednesday, March 27th.

Safehold has decreased its dividend payment by an average of 25.9% annually over the last three years. Safehold has a payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Safehold to earn $1.72 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 41.3%.

Safehold Stock Performance

NYSE:SAFE traded up $0.06 during midday trading on Tuesday, reaching $20.38. 21,591 shares of the company traded hands, compared to its average volume of 340,950. Safehold has a twelve month low of $15.00 and a twelve month high of $30.29. The company has a current ratio of 36.61, a quick ratio of 36.61 and a debt-to-equity ratio of 1.78. The company has a fifty day moving average price of $20.47 and a 200 day moving average price of $19.74.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Monday, February 12th. The company reported $0.36 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.35 by $0.01. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. The company had revenue of $103.00 million during the quarter, compared to analyst estimates of $84.89 million. During the same quarter in the previous year, the firm posted ($6.00) EPS. The firm’s quarterly revenue was up 40.3% on a year-over-year basis. Sell-side analysts anticipate that Safehold will post 1.52 earnings per share for the current fiscal year.

Analyst Ratings Changes

SAFE has been the topic of a number of recent analyst reports. JMP Securities initiated coverage on Safehold in a research report on Tuesday, January 23rd. They set an “outperform” rating and a $35.00 target price on the stock. Truist Financial cut their target price on Safehold from $24.00 to $19.00 and set a “hold” rating on the stock in a research report on Monday, November 27th. The Goldman Sachs Group boosted their target price on Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research report on Thursday, January 11th. Mizuho cut their target price on Safehold from $25.00 to $22.00 and set a “buy” rating on the stock in a research report on Thursday, March 7th. Finally, JPMorgan Chase & Co. reaffirmed a “market outperform” rating and set a $35.00 target price on shares of Safehold in a research report on Tuesday, February 13th. Two equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, Safehold presently has an average rating of “Moderate Buy” and a consensus price target of $29.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of SAFE. BlackRock Inc. boosted its stake in shares of Safehold by 51.4% during the 1st quarter. BlackRock Inc. now owns 7,325,064 shares of the company’s stock worth $211,511,000 after acquiring an additional 2,487,183 shares in the last quarter. Bluefin Capital Management LLC bought a new stake in shares of Safehold during the 1st quarter worth about $10,264,000. State Street Corp boosted its stake in Safehold by 43.9% during the 1st quarter. State Street Corp now owns 2,114,552 shares of the company’s stock valued at $62,104,000 after purchasing an additional 645,322 shares during the period. T. Rowe Price Investment Management Inc. boosted its stake in Safehold by 24.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,241,562 shares of the company’s stock valued at $64,154,000 after purchasing an additional 443,049 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in Safehold by 539.9% during the 1st quarter. JPMorgan Chase & Co. now owns 474,127 shares of the company’s stock valued at $13,926,000 after purchasing an additional 400,033 shares during the period. Hedge funds and other institutional investors own 70.38% of the company’s stock.

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.