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

Safehold Inc. (NYSE:SAFE) announced a quarterly dividend on Friday, September 13th, NASDAQ reports. Stockholders of record on Monday, September 30th will be given a dividend of 0.177 per share on Tuesday, October 15th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 2.69%. The ex-dividend date of this dividend is Monday, September 30th.

Safehold has a dividend payout ratio of 43.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Safehold to earn $1.67 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 42.5%.

Safehold Price Performance

SAFE opened at $26.31 on Friday. The firm has a market cap of $1.88 billion, a PE ratio of -58.47 and a beta of 1.65. The stock has a 50-day moving average price of $24.52 and a 200-day moving average price of $21.25. Safehold has a 1 year low of $15.00 and a 1 year high of $28.80. The company has a debt-to-equity ratio of 1.76, a current ratio of 38.83 and a quick ratio of 38.83.

Safehold (NYSE:SAFE) last issued its earnings results on Monday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.03. The business had revenue of $89.90 million during the quarter, compared to analysts’ expectations of $87.28 million. Safehold had a negative net margin of 5.76% and a positive return on equity of 4.64%. The business’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same period in the previous year, the company earned $0.35 earnings per share. Sell-side analysts predict that Safehold will post 1.59 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

SAFE has been the subject of a number of recent analyst reports. The Goldman Sachs Group boosted their price objective on shares of Safehold from $25.00 to $38.00 and gave the stock a “buy” rating in a report on Wednesday, September 18th. Truist Financial boosted their price target on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a research note on Monday, August 5th. Raymond James raised Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target on the stock in a report on Thursday, September 19th. Finally, Wedbush lifted their price objective on Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Wednesday, July 31st. Four equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.56.

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.