CTO Realty Growth, Inc. (CTO) vs Safehold Inc. (SAFE)

CTO Realty Growth, Inc. and Safehold Inc. are both Reit Diversified companies. Safehold Inc. is the larger, with a market value of $876.7M against $758.0M — 1.2× the size. Safehold Inc. trades at the lower P/E: 7.6× against 15.2×. CTO Realty Growth, Inc. grew revenue faster over the last twelve months: 14.3% against 12.2%. CTO Realty Growth, Inc. has the higher net margin (28.0% vs 27.7%) and the lower return on invested capital (3.05% vs 5.53%). Both pay a dividend; CTO Realty Growth, Inc. yields more (9.30% vs 3.44%). Across the 22 metrics below, Safehold Inc. leads on 12 and CTO Realty Growth, Inc. on 10.

Valuation

Metric CTO SAFE Reit Diversified median
P/E 15.24 7.57 23.72
P/S 4.50 2.09 3.28
P/B 1.09 0.33 0.87
Price to free cash flow 97.77 n/m 9.21
EV/EBITDA 10.81 5.45 11.57
EV/Sales 8.32 4.36 6.64
Earnings yield 6.56% 13.21% 1.04%
Free cash flow yield 1.02% (15.93%) 0.16%

Profitability

Metric CTO SAFE Reit Diversified median
Gross margin 75.08% 92.63% 77.09%
Operating margin 38.71% 75.61% 33.33%
Net margin 27.97% 27.69% 2.62%
Free cash flow margin 9.87% (33.27%) 3.11%
Return on equity 7.28% 4.61% 3.13%
Return on assets 3.41% 1.59% 0.35%
Return on invested capital 3.05% 5.53% 2.80%

Growth

Metric CTO SAFE Reit Diversified median
Revenue growth (TTM) 14.26% 12.15% 5.49%
EPS growth (last fiscal year) 122.86% 7.43% —
Revenue growth, 5-year CAGR 21.54% 3.53% 4.83%
Net income growth, 5-year CAGR (49.49%) 0.00% 0.00%

Health

Metric CTO SAFE Reit Diversified median
Debt to equity 0.99 1.77 1.13
Current ratio 8.69 34.36 1.47
Net debt to EBITDA 6.10 3.00 5.88

Dividend

Metric CTO SAFE Reit Diversified median
Dividend yield 9.30% 3.44% 7.13%
Payout ratio 7.48 7.14 1.37

Size

Metric CTO SAFE Reit Diversified median
Market cap 757.96m 876.71m 729.58m

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