Safehold (SAFE) Declares $0.18 Dividend

Safehold said on March 20, 2023 that its board of directors declared a regular quarterly dividend of $0.18 per share ($0.71 annualized). Previously, the company paid $0.18 per share.

Shares must be purchased before the ex-div date of March 29, 2023 to qualify for the dividend. Shareholders of record as of March 30, 2023 will receive the payment on March 30, 2023.

At the current share price of $29.60 / share, the stock's dividend yield is 2.39%. Looking back five years and taking a sample every week, the average dividend yield has been 1.84%, the lowest has been 0.72%, and the highest has been 3.84%. The standard deviation of yields is 0.91 (n=237).

The current dividend yield is 0.60 standard deviations above the historical average.

Additionally, the company's dividend payout ratio is 0.33. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.

The company's 3-Year dividend growth rate is 0.13%, demonstrating that it has increased its dividend over time.

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Analyst Price Forecast Suggests 42.66% Upside

As of March 20, 2023, the average one-year price target for Safehold is $42.23. The forecasts range from a low of $33.33 to a high of $52.50. The average price target represents an increase of 42.66% from its latest reported closing price of $29.60.

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The projected annual revenue for Safehold is $335MM, an increase of 19.74%. The projected annual non-GAAP EPS is $1.64.

What is the Fund Sentiment?

There are 410 funds or institutions reporting positions in Safehold. This is an increase of 47 owner(s) or 12.95% in the last quarter. Average portfolio weight of all funds dedicated to SAFE is 0.07%, a decrease of 33.83%. Total shares owned by institutions increased in the last three months by 28.77% to 29,108K shares. The put/call ratio of SAFE is 4.30, indicating a bearish outlook.

What are Large Shareholders Doing?

Goldman Sachs Group holds 2,820K shares representing 4.52% ownership of the company. In it's prior filing, the firm reported owning 76K shares, representing an increase of 97.30%. The firm increased its portfolio allocation in SAFE by 3,785.90% over the last quarter.

T. Rowe Price Investment Management holds 2,242K shares representing 3.59% ownership of the company. In it's prior filing, the firm reported owning 1,799K shares, representing an increase of 19.77%. The firm increased its portfolio allocation in SAFE by 29.48% over the last quarter.

NewEdge Wealth holds 1,932K shares representing 3.10% ownership of the company. In it's prior filing, the firm reported owning 1,666K shares, representing an increase of 13.76%. The firm increased its portfolio allocation in SAFE by 14.19% over the last quarter.

IJR - iShares Core S&P Small-Cap ETF holds 1,802K shares representing 2.89% ownership of the company. In it's prior filing, the firm reported owning 1,273K shares, representing an increase of 29.31%. The firm increased its portfolio allocation in SAFE by 39.20% over the last quarter.

PRSVX - T. Rowe Price Small-Cap Value Fund holds 1,428K shares representing 2.29% ownership of the company. In it's prior filing, the firm reported owning 1,138K shares, representing an increase of 20.31%. The firm increased its portfolio allocation in SAFE by 32.73% over the last quarter.

Safehold Background Information
(This description is provided by the company.)

Safehold Inc. 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 and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT) and is managed by its largest shareholder, iStar Inc., seeks to deliver safe, growing income and long-term capital appreciation to its shareholders.

This story originally appeared on Fintel.