Safehold Inc (NYSE:SAFE) Expected to Post Earnings of $0.28 Per Share

Wall Street brokerages expect Safehold Inc (NYSE:SAFE) to report $0.28 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Safehold’s earnings. The lowest EPS estimate is $0.27 and the highest is $0.28. Safehold posted earnings of $0.11 per share in the same quarter last year, which would indicate a positive year over year growth rate of 154.5%. The business is scheduled to announce its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Safehold will report full-year earnings of $1.14 per share for the current year, with EPS estimates ranging from $1.08 to $1.20. For the next year, analysts anticipate that the business will report earnings of $1.44 per share, with EPS estimates ranging from $1.34 to $1.53. Zacks’ earnings per share averages are a mean average based on a survey of sell-side research analysts that cover Safehold.

Safehold (NYSE:SAFE) last announced its quarterly earnings data on Friday, July 26th. The company reported $0.18 EPS for the quarter, missing the Zacks’ consensus estimate of $0.30 by ($0.12). The business had revenue of $19.68 million during the quarter, compared to analysts’ expectations of $19.77 million. Safehold had a net margin of 32.29% and a return on equity of 4.57%.

SAFE has been the subject of a number of recent analyst reports. ValuEngine downgraded Safehold from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. TheStreet raised Safehold from a “c” rating to a “b-” rating in a research report on Wednesday, August 7th. Barclays downgraded Safehold from an “overweight” rating to an “underweight” rating and lifted their price objective for the company from $23.00 to $25.00 in a research report on Tuesday, July 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised Safehold from a “hold” rating to a “strong-buy” rating and set a $33.00 price objective for the company in a research report on Saturday, August 10th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating and one has issued a strong buy rating to the company’s stock. Safehold has a consensus rating of “Hold” and an average target price of $25.50.

In other Safehold news, major shareholder Istar Inc. acquired 9,186 shares of the stock in a transaction dated Tuesday, June 25th. The stock was acquired at an average price of $28.75 per share, with a total value of $264,097.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In the last ninety days, insiders bought 310,132 shares of company stock valued at $9,357,830. Company insiders own 1.47% of the company’s stock.

A number of hedge funds have recently bought and sold shares of SAFE. BNP Paribas Arbitrage SA purchased a new stake in Safehold during the second quarter valued at about $36,000. Nisa Investment Advisors LLC grew its position 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 acquiring an additional 711 shares during the period. Optimum Investment Advisors purchased a new stake in Safehold during the second quarter valued at about $103,000. Bessemer Group Inc. purchased a new stake in Safehold during the second quarter valued at about $184,000. Finally, Acadian Asset Management LLC grew its position in Safehold by 49.4% during the second quarter. Acadian Asset Management LLC now owns 7,446 shares of the company’s stock valued at $225,000 after acquiring an additional 2,462 shares during the period. 19.74% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:SAFE traded up $0.32 during midday trading on Friday, reaching $28.85. The company’s stock had a trading volume of 142,900 shares, compared to its average volume of 216,583. The firm has a market cap of $981.66 million, a price-to-earnings ratio of 45.08 and a beta of 0.26. Safehold has a 1 year low of $16.13 and a 1 year high of $34.14. The business has a 50 day moving average price of $31.65 and a 200 day moving average price of $25.69.

Safehold Company Profile

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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