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

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

Safehold Stock Performance

NYSE:SAFE opened at $19.28 on Thursday. Safehold has a 1 year low of $15.00 and a 1 year high of $29.11. The firm has a 50 day moving average of $19.68 and a 200-day moving average of $20.09. 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 stock has a market capitalization of $1.37 billion, a P/E ratio of -42.84 and a beta of 1.48.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, April 15th. Stockholders of record on Thursday, March 28th were paid a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date of this dividend was Wednesday, March 27th. Safehold’s dividend payout ratio (DPR) is currently -155.56%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on the stock. JMP Securities reiterated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research note on Tuesday. Royal Bank of Canada cut their price target on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday. The Goldman Sachs Group raised their price target on shares of Safehold from $25.00 to $29.00 and gave the stock a “buy” rating in a research note on Thursday, January 11th. JPMorgan Chase & Co. cut their price target on shares of Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research note on Wednesday, April 17th. Finally, Mizuho cut their price target on shares of Safehold from $25.00 to $22.00 and set a “buy” rating for the company in a research note on Thursday, March 7th. Three research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, Safehold currently has an average rating of “Moderate Buy” and a consensus price target of $27.44.

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.