Safehold (NYSE:SAFE) Issues Earnings Results

Key Points

• Safehold reported a quarterly EPS of $0.39, meeting analyst expectations, with a net margin of 28.20% and a return on equity of 4.76%.
• The company announced a quarterly dividend of $0.177 per share, resulting in an annualized dividend yield of 5.0% and a payout ratio of 48.63%.
• Several analysts have updated their price targets for Safehold, with an average target of $22.33, indicating mixed ratings among five "hold" and four "buy" recommendations.

Safehold (NYSE:SAFE - Get Free Report) posted its quarterly earnings data on Tuesday. The company reported $0.39 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.39, Zacks reports. Safehold had a return on equity of 4.70% and a net margin of 27.45%. The company had revenue of $93.84 million for the quarter, compared to analysts' expectations of $94.05 million. During the same period in the previous year, the firm posted $0.41 EPS. Safehold's revenue was up 4.3% compared to the same quarter last year.

Safehold Trading Up 2.2%

SAFE traded up $0.30 during trading hours on Friday, reaching $14.00. The company's stock had a trading volume of 687,555 shares, compared to its average volume of 416,582. Safehold has a fifty-two week low of $13.43 and a fifty-two week high of $28.80. The stock has a market cap of $1.00 billion, a PE ratio of 9.79, a P/E/G ratio of 1.38 and a beta of 1.83. The business's 50-day moving average is $15.13 and its 200-day moving average is $16.11. The company has a debt-to-equity ratio of 1.85, a current ratio of 36.02 and a quick ratio of 37.17.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Monday, June 30th were issued a $0.177 dividend. The ex-dividend date was Monday, June 30th. This represents a $0.71 dividend on an annualized basis and a yield of 5.1%. Safehold's dividend payout ratio is currently 48.95%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Amundi lifted its holdings in Safehold by 2.6% in the first quarter. Amundi now owns 50,855 shares of the company's stock valued at $906,000 after acquiring an additional 1,306 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Safehold by 4.4% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company's stock valued at $576,000 after acquiring an additional 1,308 shares during the last quarter. Royal Bank of Canada raised its position in Safehold by 21.1% in the first quarter. Royal Bank of Canada now owns 44,462 shares of the company's stock valued at $833,000 after purchasing an additional 7,743 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in 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 valued at $6,478,000 after purchasing an additional 8,348 shares during the period. Finally, Creative Planning purchased a new stake in Safehold in the second quarter valued at approximately $231,000. 70.38% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. JMP Securities reiterated a "market outperform" rating and issued a $32.00 price objective on shares of Safehold in a report on Thursday, June 26th. JPMorgan Chase & Co. lowered their price objective on Safehold from $20.00 to $19.00 and set a "neutral" rating on the stock in a report on Wednesday, July 9th. Royal Bank Of Canada lowered their target price on Safehold from $21.00 to $20.00 and set an "outperform" rating on the stock in a report on Monday, May 19th. Morgan Stanley lowered their target price on 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 lowered their target price on Safehold from $28.00 to $25.00 and set a "buy" rating on the stock in a report on Wednesday, May 14th. Five research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Safehold currently has a consensus rating of "Hold" and an average target price of $22.33.

Safehold Company Profile

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.