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

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 paid a dividend of 0.177 per share on Tuesday, July 15th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend is Monday, June 30th.

Safehold has a dividend payout ratio of 43.3% meaning 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 Stock Up 0.1%

SAFE stock traded up $0.01 during midday trading on Monday, reaching $15.28. 308,576 shares of the company were exchanged, compared to its average volume of 401,477. Safehold has a 1-year low of $13.68 and a 1-year high of $28.80. The company has a market cap of $1.10 billion, a price-to-earnings ratio of 10.33 and a beta of 1.80. 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 stock's 50-day simple moving average is $15.29 and its 200 day simple moving average is $17.16.

Safehold (NYSE:SAFE - Get Free Report) last posted its quarterly earnings data on Tuesday, May 6th. The company reported $0.44 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.01. The business had revenue of $97.68 million during the quarter, compared to the consensus estimate of $95.55 million. Safehold had a return on equity of 4.76% and a net margin of 28.92%. The company's revenue was up 4.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.43 earnings per share. On average, equities analysts forecast that Safehold will post 1.58 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on SAFE shares. Mizuho cut their price target on Safehold from $19.00 to $16.00 and set a "neutral" rating for the company in a research note on Monday. Morgan Stanley decreased their price objective on shares of Safehold from $19.00 to $17.00 and set an "equal weight" rating on the stock in a research report on Tuesday, April 29th. Truist Financial lowered their target price on Safehold from $20.00 to $18.00 and set a "hold" rating on the stock in a report on Monday, May 19th. Royal Bank of Canada cut their price objective on shares of Safehold from $21.00 to $20.00 and set an "outperform" rating for the company in a research report on Monday, May 19th. Finally, Wedbush reiterated a "neutral" rating and set a $20.00 target price on shares of Safehold in a research report on Monday, March 31st. Four research analysts have rated the stock with a hold rating and four have issued a buy rating to the company's stock. Based on data from MarketBeat, Safehold currently has a consensus rating of "Moderate Buy" and a consensus target price of $23.13.

Hedge Funds Weigh In On Safehold

Several hedge funds and other institutional investors have recently made changes to their positions in SAFE. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in shares of Safehold by 2.5% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 346,067 shares of the company's stock worth $6,478,000 after acquiring an additional 8,348 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in Safehold by 3.7% during the 1st quarter. Goldman Sachs Group Inc. now owns 433,761 shares of the company's stock worth $8,120,000 after buying an additional 15,280 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Safehold by 4.4% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company's stock worth $576,000 after acquiring an additional 1,308 shares during the period. AQR Capital Management LLC increased its stake in shares of Safehold by 1,106.2% in the first quarter. AQR Capital Management LLC now owns 195,530 shares of the company's stock valued at $3,660,000 after purchasing an additional 179,319 shares during the period. Finally, Amundi raised its stake in Safehold by 2.6% during the 1st quarter. Amundi now owns 50,855 shares of the company's stock valued at $906,000 after acquiring an additional 1,306 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company's stock.

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.