Safehold Inc. (NYSE:SAFE) to Issue Quarterly Dividend of $0.18

Safehold Inc. (NYSE:SAFE - Get Free Report) declared a quarterly dividend on Friday, June 13th, RTT News reports. Investors of record on Monday, June 30th will be given a dividend of 0.177 per share on Tuesday, July 15th. This represents a $0.71 annualized dividend and a yield of 4.65%.

Safehold has a dividend payout ratio of 43.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Safehold to earn $1.61 per share next year, which means the company should continue to be able to cover its $0.71 annual dividend with an expected future payout ratio of 44.1%.

Safehold Trading Down 2.9%

NYSE:SAFE traded down $0.46 during trading hours on Friday, hitting $15.24. The stock had a trading volume of 232,175 shares, compared to its average volume of 401,623. The business's 50 day moving average is $15.29 and its 200-day moving average is $17.25. The company has a debt-to-equity ratio of 1.82, a quick ratio of 36.59 and a current ratio of 36.59. The company has a market cap of $1.09 billion, a price-to-earnings ratio of 10.30 and a beta of 1.80. Safehold has a one year low of $13.68 and a one year high of $28.80.

Safehold (NYSE:SAFE - Get Free Report) last released its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 EPS for the quarter, beating analysts' consensus estimates of $0.43 by $0.01. The business had revenue of $97.68 million during the quarter, compared to analysts' expectations of $95.55 million. Safehold had a net margin of 28.92% and a return on equity of 4.76%. The firm's quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.43 EPS. Sell-side analysts anticipate that Safehold will post 1.58 EPS for the current fiscal year.

Institutional Trading of Safehold

A number of hedge funds and other institutional investors have recently made changes to their positions in SAFE. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Safehold by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company's stock worth $576,000 after purchasing an additional 1,308 shares during the last quarter. Royal Bank of Canada lifted its position in Safehold by 21.1% during the 1st quarter. Royal Bank of Canada now owns 44,462 shares of the company's stock worth $833,000 after buying an additional 7,743 shares in the last quarter. Amundi boosted its stake in shares of Safehold by 2.6% during the 1st quarter. Amundi now owns 50,855 shares of the company's stock worth $906,000 after buying an additional 1,306 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of Safehold by 1,106.2% in the 1st quarter. AQR Capital Management LLC now owns 195,530 shares of the company's stock valued at $3,660,000 after acquiring an additional 179,319 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Safehold by 2.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 346,067 shares of the company's stock valued at $6,478,000 after acquiring an additional 8,348 shares in the last quarter. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on SAFE. Mizuho cut their price objective on Safehold from $25.00 to $19.00 and set a "neutral" rating on the stock in a report on Thursday, April 3rd. Royal Bank of Canada cut their price target on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a research note on Monday, May 19th. Wedbush reiterated a "neutral" rating and issued a $20.00 price target on shares of Safehold in a report on Monday, March 31st. Morgan Stanley dropped their price objective on shares of Safehold from $19.00 to $17.00 and set an "equal weight" rating on the stock in a report on Tuesday, April 29th. Finally, The Goldman Sachs Group cut their price objective on shares of Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a research report on Wednesday, May 14th. Four investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $23.50.

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.