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

Safehold Inc. (NYSE:SAFE) announced a quarterly dividend on Tuesday, September 15th. Stockholders of record on Wednesday, September 30th will be given a dividend of 0.177 per share on Thursday, October 15th. This represents a c) dividend on an annualized basis and a dividend yield of 5.1%. The ex-dividend date of this dividend is Wednesday, September 30th.

Safehold has decreased its dividend by an average of 0.2%annually over the last three years and has increased its dividend annually for the last 1 consecutive years. Safehold has a payout ratio of 42.7% indicating that its dividend is sufficiently covered by earnings. Analysts expect Safehold to earn $1.71 per share next year, which means the company should continue to be able to cover its $0.70 annual dividend with an expected future payout ratio of 40.9%.

Safehold Stock Down 0.7%

Shares of Safehold stock opened at $13.76 on Wednesday. The company has a debt-to-equity ratio of 1.77, a quick ratio of 34.36 and a current ratio of 34.37. Safehold has a 52-week low of $12.76 and a 52-week high of $17.45. The stock has a market capitalization of $974.41 million, a price-to-earnings ratio of 8.49, a P/E/G ratio of 4.13 and a beta of 1.73. The company’s 50 day moving average price is $15.67 and its 200-day moving average price is $15.30.

Safehold (NYSE:SAFE) last issued its earnings results on Thursday, July 30th. The company reported $0.42 EPS for the quarter, hitting the consensus estimate of $0.42. The company had revenue of $114.65 million for the quarter, compared to the consensus estimate of $110.78 million. Safehold had a net margin of 27.70% and a return on equity of 4.76%. Equities research analysts forecast that Safehold will post 1.64 EPS for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on SAFE. Zacks Research raised shares of Safehold from a “strong sell” rating to a “hold” rating in a research note on Tuesday, July 21st. Wall Street Zen raised Safehold from a “sell” rating to a “hold” rating in a research note on Saturday, July 4th. Raymond James Financial began coverage on Safehold in a report on Wednesday, August 19th. They set a “market perform” rating on the stock. Weiss Ratings raised Safehold from a “hold (c-)” rating to a “hold (c)” rating in a research report on Friday, July 31st. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of Safehold in a report on Tuesday, August 4th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $17.17.

Safehold Company Profile

Safehold Inc (NYSE: SAFE) is a real estate investment trust focused on owning and managing ground leases. Through its ground lease structure, Safehold acquires the land beneath commercial real estate properties and leases it to property owners under long-term agreements, allowing those owners to retain ownership of and operate the buildings on the sites.

The company’s ground lease investments support a range of property types, including multifamily housing, office buildings, hotels, life sciences facilities, student housing, industrial properties and retail assets.