Zacks: Brokerages Anticipate Safehold Inc. (NYSE:SAFE) Will Announce Earnings of $0.34 Per Share

Brokerages predict that Safehold Inc. (NYSE:SAFE) will announce earnings per share (EPS) of $0.34 for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Safehold’s earnings. The lowest EPS estimate is $0.31 and the highest is $0.36. Safehold posted earnings of $0.28 per share in the same quarter last year, which would indicate a positive year over year growth rate of 21.4%. The business is scheduled to report its next earnings report on Thursday, October 28th.

On average, analysts expect that Safehold will report full-year earnings of $1.31 per share for the current financial year, with EPS estimates ranging from $1.24 to $1.35. For the next year, analysts expect that the firm will report earnings of $1.67 per share, with EPS estimates ranging from $1.47 to $1.82. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research analysts that that provide coverage for Safehold.

Safehold (NYSE:SAFE) last posted its earnings results on Thursday, July 22nd. The company reported $0.28 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.33 by ($0.05). Safehold had a return on equity of 4.48% and a net margin of 36.87%. The firm had revenue of $44.21 million for the quarter, compared to analysts’ expectations of $45.25 million.

A number of research analysts recently weighed in on SAFE shares. B. Riley reaffirmed a “buy” rating and issued a $86.07 price target (down from $100.00) on shares of Safehold in a research note on Tuesday, July 27th. Truist Securities raised their price target on shares of Safehold from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Saturday, July 31st. Truist raised their price target on shares of Safehold from $72.00 to $80.00 and gave the company a “hold” rating in a research note on Friday, July 30th. Finally, Zacks Investment Research lowered shares of Safehold from a “hold” rating to a “sell” rating in a research note on Friday. One analyst has rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $84.01.

In other news, Director Dean S. Adler sold 13,100 shares of the firm’s stock in a transaction that occurred on Thursday, August 12th. The shares were sold at an average price of $90.64, for a total transaction of $1,187,384.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Dean S. Adler sold 6,100 shares of the firm’s stock in a transaction that occurred on Wednesday, August 18th. The stock was sold at an average price of $88.49, for a total transaction of $539,789.00. The disclosure for this sale can be found here. Insiders sold a total of 163,400 shares of company stock worth $14,621,046 over the last three months. Corporate insiders own 1.34% of the company’s stock.

A number of institutional investors have recently bought and sold shares of SAFE. NewEdge Wealth LLC acquired a new stake in Safehold in the 2nd quarter valued at approximately $39,345,000. Price T Rowe Associates Inc. MD increased its holdings in Safehold by 35.6% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 892,404 shares of the company’s stock valued at $70,054,000 after purchasing an additional 234,517 shares during the last quarter. Alliancebernstein L.P. increased its holdings in Safehold by 29.8% in the 1st quarter. Alliancebernstein L.P. now owns 851,266 shares of the company’s stock valued at $59,674,000 after purchasing an additional 195,376 shares during the last quarter. Vanguard Group Inc. increased its holdings in Safehold by 7.6% in the 2nd quarter. Vanguard Group Inc. now owns 2,527,374 shares of the company’s stock valued at $198,399,000 after purchasing an additional 178,443 shares during the last quarter. Finally, B&I Capital AG acquired a new stake in Safehold in the 1st quarter valued at approximately $11,929,000. Hedge funds and other institutional investors own 25.61% of the company’s stock.

Shares of Safehold stock opened at $79.71 on Tuesday. The firm has a market capitalization of $4.25 billion, a PE ratio of 68.13 and a beta of -0.47. Safehold has a twelve month low of $52.06 and a twelve month high of $95.29. The firm’s 50-day moving average price is $86.80 and its 200 day moving average price is $77.80.

The firm also recently announced a quarterly dividend, which will be paid on Friday, October 15th. Shareholders of record on Thursday, September 30th will be paid a $0.17 dividend. This represents a $0.68 dividend on an annualized basis and a yield of 0.85%. The ex-dividend date of this dividend is Wednesday, September 29th. Safehold’s dividend payout ratio (DPR) is 58.12%.

About Safehold

Safehold Inc operates as a real estate investment trust, which focuses on acquiring, owning, managing and capitalizing ground leases. It seeks to provide safe & growing income, as well as capital appreciation to shareholders by building a diversified portfolio of ground leases. The firm’s property is generally leased on a triple net basis with the tenant responsible for taxes, maintenance and insurance, as well as all operating costs and capital expenditures.

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