Safehold (NYSE:SAFE) Posts Earnings Results, Beats Estimates By $0.01 EPS

Safehold (NYSE:SAFEGet Free Report) issued its quarterly earnings data on Monday. The company reported $0.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.35 by $0.01, MarketWatch Earnings reports. Safehold had a negative return on equity of 0.28% and a negative net margin of 63.25%. The firm had revenue of $103.00 million during the quarter, compared to the consensus estimate of $84.89 million. During the same quarter in the previous year, the company posted ($6.00) EPS. The business’s revenue for the quarter was up 40.3% compared to the same quarter last year.

Safehold Stock Up 1.2 %

Shares of Safehold stock opened at $20.83 on Tuesday. The company has a quick ratio of 38.91, a current ratio of 38.91 and a debt-to-equity ratio of 1.71. Safehold has a 12 month low of $15.00 and a 12 month high of $33.76. The business has a fifty day simple moving average of $21.76 and a 200 day simple moving average of $19.91. The stock has a market cap of $1.48 billion, a PE ratio of -2.73 and a beta of 1.46.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were paid a dividend of $0.177 per share. The ex-dividend date of this dividend was Thursday, December 28th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.40%. Safehold’s dividend payout ratio (DPR) is presently -9.29%.

Institutional Investors Weigh In On Safehold

A number of institutional investors have recently made changes to their positions in SAFE. Advisor Group Holdings Inc. lifted its holdings in Safehold by 15.2% during the first quarter. Advisor Group Holdings Inc. now owns 7,262 shares of the company’s stock worth $403,000 after acquiring an additional 956 shares in the last quarter. Bank of New York Mellon Corp lifted its holdings in Safehold by 0.8% during the first quarter. Bank of New York Mellon Corp now owns 187,299 shares of the company’s stock worth $10,385,000 after acquiring an additional 1,511 shares in the last quarter. Bank of Montreal Can lifted its holdings in Safehold by 28.0% during the first quarter. Bank of Montreal Can now owns 5,548 shares of the company’s stock worth $318,000 after acquiring an additional 1,212 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Safehold during the first quarter worth about $1,099,000. Finally, MetLife Investment Management LLC lifted its holdings in Safehold by 55.4% during the first quarter. MetLife Investment Management LLC now owns 11,119 shares of the company’s stock worth $617,000 after acquiring an additional 3,965 shares in the last quarter. 71.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on SAFE. TheStreet downgraded Safehold from a “c-” rating to a “d” rating in a research report on Wednesday, November 1st. JPMorgan Chase & Co. lifted their price objective on Safehold from $17.00 to $23.00 and gave the company a “neutral” rating in a research report on Thursday, December 28th. JMP Securities initiated coverage on Safehold in a research report on Tuesday, January 23rd. They issued an “outperform” rating and a $35.00 price objective for the company. The Goldman Sachs Group lifted their target price on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research note on Thursday, January 11th. Finally, Jefferies Financial Group initiated coverage on Safehold in a research note on Thursday, January 4th. They issued a “buy” rating and a $33.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $29.00.

View Our Latest Stock Report on SAFE

About Safehold

(Get Free Report)

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.

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Earnings History for Safehold (NYSE:SAFE)

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