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

Safehold Inc. (NYSE:SAFE) announced a quarterly dividend on Friday, March 14th, RTT News reports. Stockholders of record on Monday, March 31st will be paid a dividend of 0.177 per share on Tuesday, April 15th. This represents a $0.71 dividend on an annualized basis and a dividend yield of 3.74%. The ex-dividend date is Monday, March 31st.

Safehold has decreased its dividend by an average of 38.4% annually over the last three years. Safehold has a 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 Performance

Shares of SAFE stock opened at $18.93 on Friday. The company has a debt-to-equity ratio of 1.82, a current ratio of 36.59 and a quick ratio of 36.59. The stock has a market cap of $1.35 billion, a PE ratio of 12.79 and a beta of 1.75. The stock has a 50-day moving average of $17.28 and a 200-day moving average of $20.79. Safehold has a one year low of $15.55 and a one year high of $28.80.

Safehold (NYSE:SAFE) last posted its earnings results on Wednesday, February 5th. The company reported $0.36 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.36. Safehold had a return on equity of 4.76% and a net margin of 28.92%. During the same quarter in the previous year, the business posted $0.36 earnings per share. As a group, sell-side analysts expect that Safehold will post 1.58 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on SAFE shares. The Goldman Sachs Group lowered their target price on Safehold from $29.00 to $24.00 and set a “buy” rating for the company in a research note on Tuesday, January 7th. Morgan Stanley cut Safehold from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $30.00 to $19.00 in a research note on Wednesday, January 15th. JMP Securities reaffirmed a “market outperform” rating and set a $35.00 price target on shares of Safehold in a research report on Thursday, February 6th. Finally, Wedbush reaffirmed a “neutral” rating and set a $19.00 price target (down previously from $20.00) on shares of Safehold in a research report on Friday, February 7th. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, Safehold has an average rating of “Hold” and a consensus price target of $25.56.

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.