Safehold (NYSE:SAFE) Posts Earnings Results, Misses Expectations By $0.07 EPS

Safehold (NYSE:SAFE) announced its earnings results on Thursday. The company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.07), Fidelity Earnings reports. Safehold had a return on equity of 4.70% and a net margin of 32.27%. The business had revenue of $29.59 million for the quarter, compared to analyst estimates of $31.56 million.

Shares of NYSE SAFE traded up $0.37 during mid-day trading on Friday, hitting $53.00. 151,038 shares of the company were exchanged, compared to its average volume of 229,390. The stock has a 50 day simple moving average of $43.82 and a 200-day simple moving average of $36.19. Safehold has a 1-year low of $18.56 and a 1-year high of $56.23. The firm has a market cap of $2.06 billion, a price-to-earnings ratio of 56.99 and a beta of 0.42.

The business also recently declared a quarterly dividend, which was paid on Wednesday, January 15th. Stockholders of record on Friday, January 3rd were paid a dividend of $0.156 per share. This represents a $0.62 annualized dividend and a dividend yield of 1.18%. The ex-dividend date was Thursday, January 2nd. Safehold’s dividend payout ratio (DPR) is presently 96.88%.

Several brokerages recently issued reports on SAFE. Zacks Investment Research cut Safehold from a “hold” rating to a “sell” rating in a research report on Tuesday, December 31st. ValuEngine raised Safehold from a “sell” rating to a “hold” rating in a research report on Friday, January 3rd.

In other news, major shareholder Istar Inc. purchased 15,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The stock was purchased at an average cost of $41.50 per share, with a total value of $622,500.00. Following the completion of the acquisition, the insider now directly owns 31,211,502 shares of the company’s stock, valued at approximately $1,295,277,333. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Jay Sugarman acquired 2,700 shares of Safehold stock in a transaction that occurred on Monday, November 25th. The stock was purchased at an average price of $39.00 per share, with a total value of $105,300.00. Following the transaction, the chief executive officer now owns 34,464 shares of the company’s stock, valued at $1,344,096. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 229,950 shares of company stock worth $10,886,922. 1.47% of the stock is currently owned by insiders.

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. 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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