Safehold Inc. (NYSE:SAFE – Get Rating) – Investment analysts at B. Riley dropped their Q3 2022 earnings per share estimates for Safehold in a research note issued to investors on Tuesday, April 26th. B. Riley analyst M. Howlett now anticipates that the company will earn $0.44 per share for the quarter, down from their previous forecast of $0.45. B. Riley also issued estimates for Safehold’s Q4 2022 earnings at $0.46 EPS, Q1 2023 earnings at $0.48 EPS, Q2 2023 earnings at $0.50 EPS, Q3 2023 earnings at $0.52 EPS, Q4 2023 earnings at $0.54 EPS and FY2023 earnings at $2.04 EPS.
A number of other equities analysts also recently issued reports on the company. TheStreet downgraded Safehold from a “b-” rating to a “c+” rating in a research report on Monday, April 18th. Mizuho downgraded Safehold from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $96.00 to $75.00 in a research report on Thursday, January 20th. Zacks Investment Research downgraded Safehold from a “hold” rating to a “sell” rating in a research report on Friday, April 22nd. Finally, Morgan Stanley dropped their price target on Safehold from $150.00 to $140.00 and set an “overweight” rating on the stock in a research report on Tuesday, March 15th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Safehold has an average rating of “Hold” and an average target price of $91.20.
Safehold (NYSE:SAFE – Get Rating) last released its earnings results on Thursday, April 21st. The company reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. Safehold had a return on equity of 4.78% and a net margin of 39.77%. The business had revenue of $60.40 million for the quarter, compared to analyst estimates of $59.38 million. During the same quarter last year, the firm posted $0.32 earnings per share. The business’s revenue was up 38.9% compared to the same quarter last year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were given a dividend of $0.17 per share. This represents a $0.68 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date of this dividend was Wednesday, March 30th. Safehold’s payout ratio is currently 46.26%.
In related news, major shareholder Istar Inc. acquired 1,490 shares of the company’s stock in a transaction that occurred on Wednesday, February 2nd. The shares were bought at an average price of $61.58 per share, with a total value of $91,754.20. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last ninety days, insiders have purchased 3,258,410 shares of company stock worth $192,251,613. 1.34% of the stock is owned by corporate insiders.
A number of institutional investors have recently added to or reduced their stakes in the business. Daiwa Securities Group Inc. raised its stake in Safehold by 4.4% in the third quarter. Daiwa Securities Group Inc. now owns 3,473 shares of the company’s stock valued at $250,000 after buying an additional 145 shares during the last quarter. abrdn plc raised its stake in shares of Safehold by 4.9% in the fourth quarter. abrdn plc now owns 3,844 shares of the company’s stock worth $307,000 after purchasing an additional 180 shares during the last quarter. Legacy Wealth Asset Management LLC raised its stake in shares of Safehold by 4.9% in the fourth quarter. Legacy Wealth Asset Management LLC now owns 4,211 shares of the company’s stock worth $336,000 after purchasing an additional 198 shares during the last quarter. Voya Investment Management LLC raised its stake in shares of Safehold by 2.8% in the third quarter. Voya Investment Management LLC now owns 7,613 shares of the company’s stock worth $547,000 after purchasing an additional 204 shares during the last quarter. Finally, Texas Permanent School Fund raised its stake in shares of Safehold by 3.8% in the fourth quarter. Texas Permanent School Fund now owns 10,239 shares of the company’s stock worth $818,000 after purchasing an additional 377 shares during the last quarter. Institutional investors own 25.61% of the company’s stock.
About Safehold (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.
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