$0.42 EPS Expected for Safehold Inc. (NYSE:SAFE) This Quarter

Analysts predict that Safehold Inc. (NYSE:SAFEGet Rating) will announce earnings per share (EPS) of $0.42 for the current quarter, Zacks reports. Five analysts have made estimates for Safehold’s earnings. The lowest EPS estimate is $0.38 and the highest is $0.46. Safehold reported earnings of $0.28 per share in the same quarter last year, which would indicate a positive year-over-year growth rate of 50%. The firm is scheduled to announce its next quarterly earnings results on Monday, January 1st.

According to Zacks, analysts expect that Safehold will report full-year earnings of $1.77 per share for the current fiscal year, with EPS estimates ranging from $1.61 to $1.95. For the next year, analysts forecast that the company will post earnings of $2.01 per share, with EPS estimates ranging from $1.73 to $2.24. Zacks’ earnings per share averages are a mean average based on a survey of research firms that follow Safehold.

Safehold (NYSE:SAFEGet Rating) last issued its quarterly earnings results on Thursday, April 21st. The company reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $60.40 million for the quarter, compared to analysts’ expectations of $59.38 million. Safehold had a return on equity of 4.78% and a net margin of 39.77%. The firm’s revenue for the quarter was up 38.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.32 EPS.

SAFE has been the topic of several research analyst reports. Morgan Stanley decreased their price target on Safehold from $150.00 to $140.00 and set an “overweight” rating on the stock in a research note on Tuesday, March 15th. B. Riley decreased their price target on Safehold from $110.00 to $80.00 in a research note on Tuesday. TheStreet lowered Safehold from a “b-” rating to a “c+” rating in a research note on Monday, April 18th. Zacks Investment Research lowered Safehold from a “hold” rating to a “sell” rating in a research note on Friday, April 22nd. Finally, Mizuho lowered Safehold from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $96.00 to $75.00 in a research note on Thursday, January 20th. One analyst has rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $91.20.

Shares of SAFE opened at $43.05 on Friday. Safehold has a twelve month low of $42.94 and a twelve month high of $95.29. The stock’s 50 day moving average is $54.15 and its two-hundred day moving average is $64.76. The firm has a market capitalization of $2.67 billion, a PE ratio of 29.29 and a beta of -0.13.

The business also recently declared a quarterly dividend, which was paid on Friday, April 15th. Investors of record on Thursday, March 31st were issued a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, March 30th. This represents a $0.68 annualized dividend and a yield of 1.58%. Safehold’s dividend payout ratio is currently 46.26%.

In related news, major shareholder Istar Inc. purchased 1,490 shares of the stock in a transaction that occurred on Wednesday, February 2nd. The stock was purchased at an average cost of $61.58 per share, for a total transaction of $91,754.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders purchased 3,249,712 shares of company stock valued at $191,751,652. 1.34% of the stock is owned by insiders.

Several hedge funds have recently modified their holdings of the company. NewEdge Wealth LLC increased its stake in shares of Safehold by 154.9% in the third quarter. NewEdge Wealth LLC now owns 1,277,803 shares of the company’s stock valued at $91,861,000 after purchasing an additional 776,597 shares during the period. GEM Realty Capital boosted its stake in shares of Safehold by 21.2% during the 3rd quarter. GEM Realty Capital now owns 98,067 shares of the company’s stock valued at $7,050,000 after buying an additional 17,160 shares during the period. Balyasny Asset Management LLC bought a new position in shares of Safehold during the 3rd quarter valued at $1,181,000. Renaissance Technologies LLC bought a new position in shares of Safehold during the 3rd quarter valued at $3,637,000. Finally, SG Americas Securities LLC raised its holdings in Safehold by 589.5% in the 3rd quarter. SG Americas Securities LLC now owns 19,877 shares of the company’s stock worth $1,429,000 after acquiring an additional 16,994 shares during the period. 25.61% of the stock is currently owned by institutional investors and hedge funds.

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.

Further Reading

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Earnings History and Estimates for Safehold (NYSE:SAFE)

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