Equities research analysts forecast that Safehold Inc (NYSE:SAFE) will post sales of $31.41 million for the current fiscal quarter, according to Zacks. Two analysts have issued estimates for Safehold’s earnings, with the lowest sales estimate coming in at $28.42 million and the highest estimate coming in at $34.40 million. Safehold reported sales of $14.81 million in the same quarter last year, which indicates a positive year-over-year growth rate of 112.1%. The business is scheduled to issue its next earnings report on Thursday, February 13th.
On average, analysts expect that Safehold will report full year sales of $94.50 million for the current year, with estimates ranging from $90.80 million to $98.20 million. For the next financial year, analysts anticipate that the firm will post sales of $163.83 million, with estimates ranging from $155.56 million to $172.10 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Safehold.
Safehold (NYSE:SAFE) last issued its quarterly earnings data on Thursday, October 24th. The company reported $0.23 EPS for the quarter, topping the consensus estimate of $0.20 by $0.03. The firm had revenue of $22.31 million during the quarter, compared to the consensus estimate of $21.74 million. Safehold had a return on equity of 4.70% and a net margin of 32.27%.
Several analysts have recently commented on SAFE shares. Barclays reissued a “sell” rating and issued a $29.00 price objective on shares of Safehold in a research note on Sunday, October 13th. TheStreet raised Safehold from a “c” rating to a “b-” rating in a research note on Wednesday, August 7th. Zacks Investment Research downgraded Safehold from a “buy” rating to a “hold” rating in a research note on Saturday, October 5th. Peel Hunt reissued a “hold” rating on shares of Safehold in a research note on Tuesday, October 22nd. Finally, ValuEngine downgraded Safehold from a “hold” rating to a “sell” rating in a research note on Wednesday, October 2nd. Three analysts have rated the stock with a sell rating and two have given a hold rating to the stock. The stock currently has a consensus rating of “Sell” and an average target price of $26.83.
In other Safehold news, insider Marcos Alvarado bought 4,340 shares of Safehold stock in a transaction dated Thursday, September 12th. The stock was bought at an average cost of $29.00 per share, with a total value of $125,860.00. Also, major shareholder Istar Inc. bought 40,000 shares of Safehold stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $28.52 per share, with a total value of $1,140,800.00. The disclosure for this purchase can be found here. Over the last three months, insiders bought 509,920 shares of company stock valued at $14,897,754. Company insiders own 1.47% of the company’s stock.
Hedge funds have recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC bought a new position in Safehold during the third quarter valued at $33,000. BNP Paribas Arbitrage SA bought a new position in Safehold during the second quarter valued at $36,000. Nisa Investment Advisors LLC grew its holdings in Safehold by 83.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,561 shares of the company’s stock valued at $47,000 after purchasing an additional 711 shares during the period. Optimum Investment Advisors bought a new position in Safehold during the second quarter valued at $103,000. Finally, Bessemer Group Inc. bought a new position in Safehold during the second quarter valued at $184,000. 14.92% of the stock is owned by institutional investors.
Shares of Safehold stock traded up $0.68 on Monday, hitting $34.43. The company had a trading volume of 292,194 shares, compared to its average volume of 92,013. The stock has a market capitalization of $1.37 billion, a price-to-earnings ratio of 53.80 and a beta of 0.38. Safehold has a 1 year low of $16.53 and a 1 year high of $35.11. The stock has a 50 day moving average of $33.15 and a 200-day moving average of $30.32.
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Stockholders of record on Thursday, October 3rd were paid a $0.156 dividend. This represents a $0.62 annualized dividend and a dividend yield of 1.81%. The ex-dividend date was Wednesday, October 2nd. Safehold’s dividend payout ratio (DPR) is presently 96.88%.
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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