Safehold (NYSE:SAFE) Stock Price Down 6.8% After Earnings Miss

Safehold Inc. (NYSE:SAFE)’s share price fell 6.8% during mid-day trading on Friday following a dissappointing earnings announcement. The company traded as low as $14.84 and last traded at $14.9310. 24,995 shares were traded during mid-day trading, a decline of 93% from the average session volume of 367,664 shares. The stock had previously closed at $16.02.

The company reported $0.40 earnings per share for the quarter, missing the consensus estimate of $0.43 by ($0.03). The company had revenue of $110.85 million during the quarter, compared to analyst estimates of $96.51 million. Safehold had a return on equity of 4.92% and a net margin of 29.69%.

Safehold Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, April 15th. Investors of record on Tuesday, March 31st were issued a $0.177 dividend. The ex-dividend date of this dividend was Tuesday, March 31st. This represents a $0.71 annualized dividend and a yield of 4.8%. Safehold’s dividend payout ratio is presently 44.38%.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SAFE. Wall Street Zen raised shares of Safehold from a “sell” rating to a “hold” rating in a report on Saturday, April 4th. Truist Financial upped their target price on Safehold from $16.00 to $17.00 and gave the stock a “hold” rating in a research report on Wednesday, February 18th. Morgan Stanley downgraded Safehold from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $16.00 to $14.00 in a research report on Thursday, January 22nd. Royal Bank Of Canada upped their target price on Safehold from $17.00 to $18.00 and gave the stock an “outperform” rating in a research report on Friday, February 20th. Finally, Zacks Research downgraded Safehold from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, March 25th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $19.25.

Institutional Trading of Safehold

A number of hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. lifted its holdings in shares of Safehold by 24.7% in the third quarter. JPMorgan Chase & Co. now owns 1,411,158 shares of the company’s stock valued at $21,859,000 after purchasing an additional 279,664 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of Safehold by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 1,355,407 shares of the company’s stock valued at $18,557,000 after purchasing an additional 6,255 shares in the last quarter. Long Pond Capital LP purchased a new stake in shares of Safehold in the fourth quarter valued at $12,936,000. Invesco Ltd. lifted its holdings in shares of Safehold by 4.6% in the second quarter. Invesco Ltd. now owns 619,951 shares of the company’s stock valued at $9,646,000 after purchasing an additional 27,395 shares in the last quarter. Finally, Algert Global LLC lifted its holdings in shares of Safehold by 137.4% in the third quarter. Algert Global LLC now owns 486,386 shares of the company’s stock valued at $7,534,000 after purchasing an additional 281,478 shares in the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

Safehold Price Performance

The stock has a fifty day moving average price of $14.99 and a 200-day moving average price of $14.54. The company has a market cap of $1.05 billion, a PE ratio of 9.28, a price-to-earnings-growth ratio of 1.66 and a beta of 1.84. The company has a debt-to-equity ratio of 1.88, a current ratio of 34.97 and a quick ratio of 34.97.

About Safehold

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.