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

Key Points

• Safehold declared a quarterly dividend of $0.177 per share, payable October 15 to shareholders of record on September 30. The dividend implies an annualized payout of approximately $0.70 per share and a 5.1% yield.
• The dividend appears well covered, with a current payout ratio of 42.7% and an expected future payout ratio of 40.9%; analysts forecast $1.71 in earnings per share next year.
• Safehold shares recently traded at $13.76, below the analyst consensus price target of $17.17. Wall Street’s overall rating is “Hold,” with two Buy, seven Hold and one Sell rating.

Safehold Inc. (NYSE:SAFE - Get Free Report) declared a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.177 per share on Thursday, October 15th. This represents a c) annualized dividend and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, September 30th.

Safehold has decreased its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 1 years. Safehold has a dividend payout ratio of 42.7% meaning its dividend is sufficiently covered by earnings. Analysts expect Safehold to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 40.9%.

Safehold Stock Performance

Shares of NYSE:SAFE traded down $0.09 on Tuesday, hitting $13.76. 562,386 shares of the company were exchanged, compared to its average volume of 352,607. The company's 50 day moving average price is $15.72 and its two-hundred day moving average price is $15.32. The firm has a market capitalization of $974.41 million, a price-to-earnings ratio of 8.49, a PEG ratio of 4.18 and a beta of 1.73. The company has a debt-to-equity ratio of 1.77, a quick ratio of 34.36 and a current ratio of 34.37. Safehold has a one year low of $12.76 and a one year high of $17.45.

Safehold (NYSE:SAFE - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.42 earnings per share for the quarter, meeting the consensus estimate of $0.42. Safehold had a net margin of 27.70% and a return on equity of 4.76%. The business had revenue of $114.65 million during the quarter, compared to analysts' expectations of $110.78 million. Research analysts expect that Safehold will post 1.64 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on SAFE. Cantor Fitzgerald reissued a "neutral" rating on shares of Safehold in a report on Tuesday, August 4th. Raymond James Financial began coverage on Safehold in a research note on Wednesday, August 19th. They issued a "market perform" rating for the company. Zacks Research raised Safehold from a "strong sell" rating to a "hold" rating in a research report on Tuesday, July 21st. Weiss Ratings upgraded shares of Safehold from a "hold (c-)" rating to a "hold (c)" rating in a research note on Friday, July 31st. Finally, Wall Street Zen raised shares of Safehold from a "sell" rating to a "hold" rating in a report on Saturday, July 4th. Two investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $17.17.

Safehold Company Profile

Safehold Inc NYSE: SAFE is a real estate investment trust focused on owning and managing ground leases. Through its ground lease structure, Safehold acquires the land beneath commercial real estate properties and leases it to property owners under long-term agreements, allowing those owners to retain ownership of and operate the buildings on the sites.

The company's ground lease investments support a range of property types, including multifamily housing, office buildings, hotels, life sciences facilities, student housing, industrial properties and retail assets.

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