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

Safehold Inc. (NYSE:SAFE) announced a quarterly dividend on Friday, December 13th,NASDAQ Dividends reports. Shareholders of record on Monday, December 30th will be paid a dividend of 0.177 per share on Wednesday, January 15th. This represents a $0.71 annualized dividend and a dividend yield of 3.47%. The ex-dividend date of this dividend is Monday, December 30th.

Safehold has a dividend payout ratio of 44.1% meaning its dividend is sufficiently covered by earnings. 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 Performance

Shares of NYSE SAFE traded down $0.07 during midday trading on Friday, hitting $20.43. 271,085 shares of the company’s stock were exchanged, compared to its average volume of 346,095. Safehold has a twelve month low of $17.91 and a twelve month high of $28.80. The company has a debt-to-equity ratio of 1.85, a current ratio of 37.83 and a quick ratio of 37.83. The firm has a market cap of $1.46 billion, a P/E ratio of 12.02 and a beta of 1.66. The stock’s 50 day moving average price is $21.95 and its 200-day moving average price is $22.27.

Safehold (NYSE:SAFE) last announced its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.37. The company had revenue of $90.70 million during the quarter, compared to analyst estimates of $89.45 million. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The firm’s quarterly revenue was up 6.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.33 EPS. Equities research analysts anticipate that Safehold will post 1.56 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on SAFE shares. JMP Securities reiterated a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Tuesday, October 29th. Mizuho raised their price objective on shares of Safehold from $20.00 to $25.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. The Goldman Sachs Group cut their target price on Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a research report on Friday, November 1st. Royal Bank of Canada lifted their price target on Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Finally, Wedbush restated a “neutral” rating and issued a $23.00 price objective (down previously from $25.00) on shares of Safehold in a report on Monday, November 4th. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $28.22.

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.