Safehold (NYSE:SAFE) Announces Quarterly Earnings Results, Beats Expectations By $0.04 EPS

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

Safehold Stock Performance

Safehold stock opened at $19.80 on Wednesday. The company has a debt-to-equity ratio of 1.78, a current ratio of 36.61 and a quick ratio of 36.61. The company has a market cap of $1.41 billion, a P/E ratio of -24.44 and a beta of 1.48. Safehold has a fifty-two week low of $15.00 and a fifty-two week high of $29.11. The firm’s 50 day simple moving average is $19.69 and its 200-day simple moving average is $20.10.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Thursday, March 28th were issued a $0.177 dividend. This represents a $0.71 annualized dividend and a dividend yield of 3.58%. The ex-dividend date was Wednesday, March 27th. Safehold’s payout ratio is -87.65%.

Analyst Upgrades and Downgrades

SAFE has been the topic of a number of research analyst reports. JMP Securities reiterated a “market outperform” rating and set a $35.00 price objective on shares of Safehold in a research note on Tuesday. 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. JPMorgan Chase & Co. decreased their target price on Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Royal Bank of Canada dropped their price target on shares of Safehold from $33.00 to $32.00 and set an “outperform” rating on the stock in a research report on Thursday, February 15th. Finally, Mizuho reduced their price objective on shares of Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price 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.