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Safehold (Safehold) Earnings Yield (Joel Greenblatt) % : 2.26% (As of Dec. 2023)


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What is Safehold Earnings Yield (Joel Greenblatt) %?

Safehold's Enterprise Value for the quarter that ended in Dec. 2023 was $5,669.3 Mil. Safehold's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 was $128.2 Mil. Safehold's Earnings Yield (Joel Greenblatt) for the quarter that ended in Dec. 2023 was 2.26%.

The historical rank and industry rank for Safehold's Earnings Yield (Joel Greenblatt) % or its related term are showing as below:

SAFE' s Earnings Yield (Joel Greenblatt) % Range Over the Past 10 Years
Min: 1.52   Med: 2.44   Max: 5.73
Current: 2.42

During the past 9 years, the highest Earnings Yield (Joel Greenblatt) of Safehold was 5.73%. The lowest was 1.52%. And the median was 2.44%.

SAFE's Earnings Yield (Joel Greenblatt) % is ranked worse than
53.69% of 894 companies
in the REITs industry
Industry Median: 2.845 vs SAFE: 2.42

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

A better indicator of the attractiveness of an investment which takes growth into account is the Forward Rate of Return (Yacktman) %. Safehold's Forward Rate of Return (Yacktman) % for the quarter that ended in Dec. 2023 was 11.64%. The Forward Rate of Return uses the normalized Free Cash Flow of the past seven years, and considers growth. The forward rate of return can be thought of as the return that investors buying the stock today can expect from it in the future.


Safehold Earnings Yield (Joel Greenblatt) % Historical Data

The historical data trend for Safehold's Earnings Yield (Joel Greenblatt) % can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

* Premium members only.

Safehold Earnings Yield (Joel Greenblatt) % Chart

Safehold Annual Data
Trend Dec15 Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23
Earnings Yield (Joel Greenblatt) %
Get a 7-Day Free Trial Premium Member Only 1.94 2.25 2.13 5.15 2.26

Safehold Quarterly Data
Mar19 Jun19 Sep19 Dec19 Mar20 Jun20 Sep20 Dec20 Mar21 Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23
Earnings Yield (Joel Greenblatt) % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 5.15 4.70 5.22 1.89 2.26

Competitive Comparison of Safehold's Earnings Yield (Joel Greenblatt) %

For the REIT - Diversified subindustry, Safehold's Earnings Yield (Joel Greenblatt) %, along with its competitors' market caps and Earnings Yield (Joel Greenblatt) % data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Safehold's Earnings Yield (Joel Greenblatt) % Distribution in the REITs Industry

For the REITs industry and Real Estate sector, Safehold's Earnings Yield (Joel Greenblatt) % distribution charts can be found below:

* The bar in red indicates where Safehold's Earnings Yield (Joel Greenblatt) % falls into.



Safehold Earnings Yield (Joel Greenblatt) % Calculation

In his book, The Little That Beat the Market, hedge fund manager Joel Greenblatt defines Earnings Yield as operating income divided by enterprise value.

Safeholds Earnings Yield (Joel Greenblatt) for the fiscal year that ended in Dec. 2023 is calculated as

Earnings Yield (Joel Greenblatt)=EBIT/Enterprise Value
=128.165/5669.2688
=2.26 %

Safehold's EBIT for the trailing twelve months (TTM) ended in Dec. 2023 adds up the quarterly data reported by the company within the most recent 12 months, which was $128.2 Mil.



Safehold  (NYSE:SAFE) Earnings Yield (Joel Greenblatt) % Explanation

Joel Greenblatt defines the earnings yield using the above equation because it more accurately reflects the company's profitability relative to its stock price. Items like interest payment and tax etc. are not directly related to the company's operational profitability.

Enterprise Value instead of market cap (share price) is used in the calculation because it is the real price stock and bond investors together pay for the company.


Be Aware

Joel Greenblatt's definition of earnings yield has the same problems the regular earnings yield does. It does not consider the growth of the company. It only looks at one-year's business operation. For cyclical companies, the earnings yield is usually highest at the peak of the business cycle. But these earnings are rarely sustainable.

Forward Rate of Return (Yacktman) % based on Don Yacktman's definition is a better measure of the expected rate of return for a stock.


Safehold Earnings Yield (Joel Greenblatt) % Related Terms

Thank you for viewing the detailed overview of Safehold's Earnings Yield (Joel Greenblatt) % provided by GuruFocus.com. Please click on the following links to see related term pages.


Safehold (Safehold) Business Description

Industry
GURUFOCUS.COM » STOCK LIST » Real Estate » REITs » Safehold Inc (NYSE:SAFE) » Definitions » Earnings Yield (Joel Greenblatt) %
Traded in Other Exchanges
N/A
Address
1114 Avenue of the Americas, 39th Floor, New York, NY, USA, 10036
Safehold Inc is a REIT that operates its business by acquiring, managing and capitalizing ground leases. Ground leases are long-term contracts between the landlord (the Company) and a tenant or leaseholder. Ground leases generally represent ownership of the land underlying commercial real estate projects that is net leased by the fee owner of the land to the owners/operators of the real estate projects built thereon.
Executives
Istar Inc. 10 percent owner 1114 AVENUE OF THE AMERICAS, 39TH FLOOR, NEW YORK NY 10036
Brett Asnas officer: Chief Financial Officer C/O ISTAR, 1114 AVENUE OF THE AMERICAS, FL. 39, NEW YORK NY 10036
Jesse Hom director 168 ROBINSON ROAD, #37-01, CAPITAL TOWER, SINGAPORE U0 068912
Dean S Adler director, 10 percent owner BELGRAVIA 8TH FL, 1811 CHESTNUT ST, PHILADELPHIA PA 19103
Garett Rosenblum officer: Chief Accounting Officer C/O ISTAR, 1114 AVENUE OF THE AMERICAS, FL. 39, NEW YORK NY 10036
Jeremy Fox-geen officer: Chief Financial Officer C/O ISTAR, 1114 AVENUE OF THE AMERICAS, FL 39, NEW YORK NY 10036
Jay Sugarman director, officer: Chairman and CEO 24301 WALDEN CENTER DR, BONITA SPRINGS FL 34134
Marcos Alvarado officer: Chief Investment Officer 591 WEST PUTNAM AVENUE, GREENWICH CT 06830
Jay S Nydick director 1114 AVENUE OF THE AMERICAS, 27TH FLR, NEW YORK NY 10036
Nina Matis officer: Chief Legal Officer & CIO 1114 AVENUE OF THE AMERICAS, 12TH FL, NEW YORK NY 10036
Andrew C Richardson officer: Interim CFO 527 MADISON AVENUE, 16TH FLOOR, NEW YORK NY 10022
Geoffrey G Jervis officer: COO and CFO C/O CAPITAL TRUST, INC., 410 PARK AVENUE, 14TH FLOOR, NEW YORK NY 10022
Stefan M Selig director 2 EAST 70TH STREET, NEW YORK NY 10021
Robin Josephs director
Sfty Venture Llc 10 percent owner C/O GIC REAL ESTATE, INC., 280 PARK AVENUE, 9TH FLOOR, NEW YORK NY 10017