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

Safehold (NYSE:SAFE - Get Free Report) issued its quarterly earnings data on Monday. The company reported $0.43 earnings per share for the quarter, topping analysts' consensus estimates of $0.39 by $0.04, Briefing.com reports. The business had revenue of $93.20 million for the quarter, compared to analyst estimates of $88.20 million. Safehold had a positive return on equity of 4.31% and a negative net margin of 15.59%. Safehold's quarterly revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.41 EPS.

Safehold Stock Up 3.7 %

SAFE stock traded up $0.71 during trading on Tuesday, reaching $19.80. 298,599 shares of the stock were exchanged, compared to its average volume of 341,640. The company has a current ratio of 36.61, a quick ratio of 36.61 and a debt-to-equity ratio of 1.78. Safehold has a twelve month low of $15.00 and a twelve month high of $29.11. The firm's 50 day moving average is $19.69 and its 200 day moving average is $20.06. The firm has a market cap of $1.41 billion, a P/E ratio of -24.30 and a beta of 1.48.

Safehold Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on SAFE shares. JPMorgan Chase & Co. reduced their target price on shares of Safehold from $23.00 to $21.00 and set a "neutral" rating on the stock in a report on Wednesday, April 17th. JMP Securities restated a "market outperform" rating and set a $35.00 price target on shares of Safehold in a report on Tuesday. Royal Bank of Canada decreased their price objective on shares of Safehold from $33.00 to $32.00 and set an "outperform" rating for the company in a research report on Thursday, February 15th. Mizuho dropped their target price on shares of Safehold from $25.00 to $22.00 and set a "buy" rating on the stock in a report on Thursday, March 7th. Finally, The Goldman Sachs Group increased their price target on Safehold from $25.00 to $29.00 and gave the stock a "buy" rating in a report on Thursday, January 11th. Three analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, Safehold presently has an average rating of "Moderate Buy" and an average price target 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.