Analysts Expect Safehold Inc. (NYSE:SAFE) Will Post Quarterly Sales of $64.93 Million

Brokerages predict that Safehold Inc. (NYSE:SAFEGet Rating) will post $64.93 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for Safehold’s earnings, with the lowest sales estimate coming in at $61.74 million and the highest estimate coming in at $69.00 million. Safehold posted sales of $44.21 million in the same quarter last year, which suggests a positive year-over-year growth rate of 46.9%. The firm is expected to report its next earnings results on Monday, January 1st.

According to Zacks, analysts expect that Safehold will report full year sales of $267.99 million for the current financial year, with estimates ranging from $256.11 million to $281.60 million. For the next year, analysts anticipate that the company will report sales of $344.19 million, with estimates ranging from $313.97 million to $363.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow Safehold.

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

Several equities analysts have issued reports on SAFE shares. JPMorgan Chase & Co. decreased their price target on shares of Safehold from $66.00 to $52.00 in a research report on Wednesday. Truist Financial decreased their price target on shares of Safehold from $68.00 to $46.00 and set a “na” rating for the company in a research report on Monday, May 16th. Morgan Stanley decreased their price target on shares of Safehold from $150.00 to $140.00 and set an “overweight” rating for the company in a research report on Tuesday, March 15th. Zacks Investment Research lowered shares of Safehold from a “hold” rating to a “sell” rating in a research note on Friday, April 22nd. Finally, B. Riley reduced their price objective on shares of Safehold from $110.00 to $80.00 in a research note on Tuesday, April 26th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $79.00.

In related news, major shareholder Istar Inc. bought 3,240,000 shares of the business’s stock in a transaction that occurred on Monday, March 7th. The shares were acquired at an average cost of $59.00 per share, with a total value of $191,160,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.56% of the company’s stock.

A number of hedge funds and other institutional investors have recently modified their holdings of SAFE. abrdn plc lifted 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 valued at $307,000 after buying an additional 180 shares in the last quarter. Legacy Wealth Asset Management LLC lifted 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 valued at $336,000 after buying an additional 198 shares in the last quarter. Voya Investment Management LLC lifted 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 valued at $547,000 after buying an additional 204 shares in the last quarter. Van ECK Associates Corp lifted its stake in shares of Safehold by 15.1% in the first quarter. Van ECK Associates Corp now owns 1,861 shares of the company’s stock valued at $103,000 after buying an additional 244 shares in the last quarter. Finally, Yousif Capital Management LLC lifted its stake in shares of Safehold by 2.0% in the first quarter. Yousif Capital Management LLC now owns 12,876 shares of the company’s stock valued at $714,000 after buying an additional 250 shares in the last quarter. 25.61% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE SAFE opened at $42.18 on Friday. Safehold has a 52-week low of $40.21 and a 52-week high of $95.29. The firm has a 50 day moving average price of $49.42 and a two-hundred day moving average price of $61.52. The stock has a market cap of $2.61 billion, a P/E ratio of 28.69 and a beta of 0.07.

The company also recently disclosed a quarterly dividend, which was paid on Friday, April 15th. Stockholders of record on Thursday, March 31st were paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date was Wednesday, March 30th. Safehold’s dividend payout ratio is currently 46.26%.

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.

Further Reading

Get a free copy of the Zacks research report on Safehold (SAFE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates for Safehold (NYSE:SAFE)

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.