Safehold Inc. (NYSE:SAFE) Increases Dividend to $0.18 Per Share

Safehold Inc. (NYSE:SAFEGet Rating) announced a quarterly dividend on Thursday, June 16th, Wall Street Journal reports. Shareholders of record on Thursday, June 30th will be paid a dividend of 0.177 per share on Friday, July 15th. This represents a $0.71 annualized dividend and a yield of 2.03%. The ex-dividend date is Wednesday, June 29th. This is a positive change from Safehold’s previous quarterly dividend of $0.17.

Safehold has raised its dividend by an average of 3.9% annually over the last three years and has raised its dividend annually for the last 3 consecutive years. Safehold has a dividend payout ratio of 36.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Safehold to earn $1.86 per share next year, which means the company should continue to be able to cover its $0.68 annual dividend with an expected future payout ratio of 36.6%.

Shares of SAFE opened at $34.94 on Friday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of 23.77 and a beta of 0.06. Safehold has a fifty-two week low of $34.47 and a fifty-two week high of $95.29. The firm has a 50 day moving average price of $43.97 and a 200-day moving average price of $57.48.

Safehold (NYSE:SAFEGet Rating) last issued its quarterly earnings data on Thursday, April 21st. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $60.40 million for the quarter, compared to the consensus estimate of $59.38 million. Safehold had a net margin of 39.77% and a return on equity of 4.78%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.32 EPS. Equities research analysts forecast that Safehold will post 1.7 EPS for the current year.

Several equities analysts have recently weighed in on SAFE shares. Truist Financial lowered their price objective on shares of Safehold from $68.00 to $46.00 and set a “na” rating on the stock in a research note on Monday, May 16th. Morgan Stanley decreased their target price on Safehold from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, March 15th. B. Riley cut their target price on Safehold from $110.00 to $80.00 in a research note on Tuesday, April 26th. TheStreet downgraded Safehold from a “b-” rating to a “c+” rating in a report on Monday, April 18th. Finally, JPMorgan Chase & Co. decreased their price target on Safehold from $66.00 to $52.00 in a report on Wednesday, May 18th. One equities research analyst has rated the stock with a hold rating and two have given a buy rating to the company. According to data from MarketBeat, Safehold presently has a consensus rating of “Buy” and a consensus target price of $78.60.

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. First Manhattan Co. purchased a new position in shares of Safehold in the 1st quarter valued at about $81,000. Point72 Hong Kong Ltd increased its holdings in shares of Safehold by 17.5% in the 1st quarter. Point72 Hong Kong Ltd now owns 2,953 shares of the company’s stock valued at $164,000 after acquiring an additional 440 shares during the last quarter. Quantbot Technologies LP increased its holdings in shares of Safehold by 725.0% in the 1st quarter. Quantbot Technologies LP now owns 3,300 shares of the company’s stock valued at $182,000 after acquiring an additional 2,900 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Safehold in the 3rd quarter valued at about $247,000. Finally, Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Safehold in the 1st quarter valued at about $200,000. Institutional investors and hedge funds own 25.61% of the company’s stock.

Safehold Company Profile (Get Rating)

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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

Further Reading

Dividend History for Safehold (NYSE:SAFE)

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