Wall Street analysts expect Safehold Inc. (NYSE:SAFE – Get Rating) to report sales of $58.33 million for the current quarter, Zacks reports. Five analysts have made estimates for Safehold’s earnings. The lowest sales estimate is $55.97 million and the highest is $60.10 million. Safehold posted sales of $43.50 million in the same quarter last year, which would indicate a positive year over year growth rate of 34.1%. The firm is expected to issue its next quarterly earnings results on Monday, January 1st.
According to Zacks, analysts expect that Safehold will report full-year sales of $258.33 million for the current fiscal year, with estimates ranging from $248.17 million to $266.10 million. For the next year, analysts expect that the business will report sales of $329.78 million, with estimates ranging from $326.72 million to $336.10 million. Zacks’ sales averages are an average based on a survey of sell-side research analysts that cover Safehold.
Safehold (NYSE:SAFE – Get Rating) last issued its quarterly earnings results on Tuesday, February 15th. The company reported $0.38 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.38. The business had revenue of $52.01 million for the quarter, compared to analyst estimates of $51.81 million. Safehold had a net margin of 39.10% and a return on equity of 4.73%. During the same period in the previous year, the business posted $0.29 earnings per share.
NYSE:SAFE traded down $0.10 during trading hours on Friday, hitting $49.97. The company’s stock had a trading volume of 1,170 shares, compared to its average volume of 238,137. Safehold has a 52-week low of $50.01 and a 52-week high of $95.29. The company has a 50-day moving average price of $58.25. The firm has a market capitalization of $3.10 billion, a P/E ratio of 36.82 and a beta of -0.13.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, April 15th. Shareholders of record on Thursday, March 31st will be paid a dividend of $0.17 per share. The ex-dividend date of this dividend is Wednesday, March 30th. This represents a $0.68 dividend on an annualized basis and a yield of 1.36%. Safehold’s dividend payout ratio (DPR) is presently 50.00%.
In related news, major shareholder Istar Inc. acquired 7,140 shares of Safehold stock in a transaction on Friday, January 14th. The shares were purchased at an average cost of $70.01 per share, for a total transaction of $499,871.40. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. Over the last quarter, insiders have bought 3,297,102 shares of company stock valued at $194,750,386. Company insiders own 1.34% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Addison Capital Co lifted its stake in Safehold by 4.9% in the first quarter. Addison Capital Co now owns 197,594 shares of the company’s stock valued at $10,957,000 after buying an additional 9,232 shares during the last quarter. Norges Bank bought a new stake in Safehold in the 4th quarter valued at about $13,545,000. Barclays PLC boosted its stake in Safehold by 46.1% during the 4th quarter. Barclays PLC now owns 26,524 shares of the company’s stock valued at $2,118,000 after purchasing an additional 8,367 shares during the period. BlackRock Inc. boosted its stake in Safehold by 14.0% during the 4th quarter. BlackRock Inc. now owns 2,859,230 shares of the company’s stock valued at $228,309,000 after purchasing an additional 351,663 shares during the period. Finally, Wells Fargo & Company MN increased its stake in shares of Safehold by 43.2% in the fourth quarter. Wells Fargo & Company MN now owns 22,057 shares of the company’s stock valued at $1,761,000 after purchasing an additional 6,659 shares during the period. Hedge funds and other institutional investors own 25.61% of the company’s stock.
Safehold Company Profile (Get Rating)
Safehold Inc (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Through its modern ground lease capital solution, Safehold helps owners of high quality multifamily, office, industrial, hospitality and mixed-use properties in major markets throughout the United States generate higher returns with less risk.
- Get a free copy of the StockNews.com research report on Safehold (SAFE)
- OrganiGram’s Turnaround Begins To Blossom
- Three Dividend Stocks With Growth Potential
- Exelon Stock Still Has Extraordinary Upside
- Greenbrier Companies Stock has Green in its Future
- Insiders Are Selling Palo Alto Networks
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Safehold Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safehold and related companies with MarketBeat.com's FREE daily email newsletter.