Safehold (NYSE:SAFE) Releases Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Safehold (NYSE:SAFEGet Rating) issued its quarterly earnings data on Thursday. The company reported $0.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.01, MarketWatch Earnings reports. The business had revenue of $60.40 million for the quarter, compared to the consensus estimate of $59.38 million. Safehold had a return on equity of 4.73% and a net margin of 39.10%. The company’s quarterly revenue was up 38.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.32 earnings per share.

Shares of SAFE traded down $0.82 during mid-day trading on Thursday, hitting $46.39. The company’s stock had a trading volume of 6,725 shares, compared to its average volume of 236,250. The stock’s 50-day moving average is $56.59 and its two-hundred day moving average is $66.05. The firm has a market capitalization of $2.87 billion, a PE ratio of 33.68 and a beta of -0.13. Safehold has a one year low of $46.79 and a one year high of $95.29.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were paid a $0.17 dividend. The ex-dividend date was Wednesday, March 30th. This represents a $0.68 annualized dividend and a dividend yield of 1.47%. Safehold’s dividend payout ratio is currently 50.00%.

In related news, major shareholder Istar Inc. acquired 8,698 shares of the company’s stock in a transaction dated Friday, January 28th. The shares were bought at an average price of $57.48 per share, for a total transaction of $499,961.04. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Over the last three months, insiders bought 3,275,013 shares of company stock valued at $193,251,461. 1.34% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Barclays PLC lifted its holdings in shares of Safehold by 46.1% in the 4th quarter. Barclays PLC now owns 26,524 shares of the company’s stock worth $2,118,000 after purchasing an additional 8,367 shares in the last quarter. Credit Suisse AG grew its holdings in shares of Safehold by 6.8% during the fourth quarter. Credit Suisse AG now owns 25,290 shares of the company’s stock valued at $2,020,000 after buying an additional 1,607 shares during the last quarter. California State Teachers Retirement System increased its position in shares of Safehold by 8.9% during the fourth quarter. California State Teachers Retirement System now owns 24,809 shares of the company’s stock worth $1,981,000 after acquiring an additional 2,022 shares in the last quarter. Wells Fargo & Company MN increased its position in shares of Safehold by 43.2% during the fourth quarter. Wells Fargo & Company MN now owns 22,057 shares of the company’s stock worth $1,761,000 after acquiring an additional 6,659 shares in the last quarter. Finally, Stifel Financial Corp raised its holdings in shares of Safehold by 2.1% in the 4th quarter. Stifel Financial Corp now owns 20,383 shares of the company’s stock worth $1,628,000 after acquiring an additional 429 shares during the last quarter. Hedge funds and other institutional investors own 25.61% of the company’s stock.

A number of analysts have recently weighed in on the company. Mizuho cut Safehold from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $96.00 to $75.00 in a research report on Thursday, January 20th. TheStreet downgraded shares of Safehold from a “b-” rating to a “c+” rating in a research note on Monday. Zacks Investment Research lowered shares of Safehold from a “buy” rating to a “hold” rating in a research note on Saturday, February 26th. Finally, Morgan Stanley decreased their price objective on Safehold from $150.00 to $140.00 and set an “overweight” rating for the company in a report on Tuesday, March 15th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $92.41.

Safehold Company Profile (Get Rating)

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. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.

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Earnings History for Safehold (NYSE:SAFE)

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