Equities research analysts expect that Safehold Inc (NYSE:SAFE) will announce sales of $38.85 million for the current fiscal quarter, according to Zacks. Three analysts have provided estimates for Safehold’s earnings, with the lowest sales estimate coming in at $38.30 million and the highest estimate coming in at $39.50 million. Safehold posted sales of $22.31 million during the same quarter last year, which suggests a positive year-over-year growth rate of 74.1%. The company is expected to announce its next quarterly earnings report on Thursday, October 22nd.
According to Zacks, analysts expect that Safehold will report full year sales of $156.82 million for the current financial year, with estimates ranging from $154.70 million to $159.10 million. For the next year, analysts anticipate that the business will post sales of $187.12 million, with estimates ranging from $173.50 million to $194.20 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side analysts that cover Safehold.
Safehold (NYSE:SAFE) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.28 by ($0.04). Safehold had a return on equity of 4.48% and a net margin of 35.95%. The firm had revenue of $37.40 million for the quarter, compared to analysts’ expectations of $37.64 million.
SAFE has been the topic of a number of recent analyst reports. Bank of America initiated coverage on Safehold in a research note on Thursday, June 11th. They set a “buy” rating and a $70.00 price target on the stock. Zacks Investment Research downgraded Safehold from a “hold” rating to a “sell” rating in a report on Wednesday, August 12th. Berenberg Bank started coverage on Safehold in a report on Tuesday, June 30th. They set a “buy” rating and a $80.00 price objective on the stock. Mizuho raised Safehold from a “neutral” rating to a “buy” rating and set a $56.00 target price on the stock in a report on Monday, July 27th. Finally, TheStreet upgraded shares of Safehold from a “c-” rating to a “b” rating in a research report on Monday, June 22nd. Two investment analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $55.17.
In related news, major shareholder Istar Inc. bought 4,348 shares of the business’s stock in a transaction dated Friday, September 4th. The shares were bought at an average cost of $57.48 per share, with a total value of $249,923.04. Following the completion of the transaction, the insider now directly owns 33,601,370 shares of the company’s stock, valued at $1,931,406,747.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dean S. Adler sold 37,500 shares of the company’s stock in a transaction on Monday, August 24th. The shares were sold at an average price of $51.37, for a total value of $1,926,375.00. The disclosure for this sale can be found here. Over the last quarter, insiders purchased 61,110 shares of company stock worth $3,249,706 and sold 292,030 shares worth $15,105,785. 0.53% of the stock is owned by insiders.
A number of hedge funds have recently bought and sold shares of the business. Teachers Retirement System of The State of Kentucky grew its position in Safehold by 47.4% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 2,800 shares of the company’s stock worth $161,000 after purchasing an additional 900 shares in the last quarter. Stephens Inc. AR boosted its position in shares of Safehold by 25.0% in the second quarter. Stephens Inc. AR now owns 18,139 shares of the company’s stock worth $1,043,000 after buying an additional 3,629 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in shares of Safehold by 83.8% during the second quarter. Charles Schwab Investment Management Inc. now owns 151,991 shares of the company’s stock valued at $8,738,000 after buying an additional 69,304 shares in the last quarter. California State Teachers Retirement System lifted its stake in Safehold by 34.9% in the 2nd quarter. California State Teachers Retirement System now owns 26,072 shares of the company’s stock worth $1,499,000 after acquiring an additional 6,742 shares in the last quarter. Finally, Balyasny Asset Management LLC acquired a new stake in Safehold during the 2nd quarter worth about $1,033,000. 24.57% of the stock is owned by institutional investors.
Shares of SAFE stock traded up $1.04 during trading hours on Thursday, reaching $58.43. 245,072 shares of the company’s stock were exchanged, compared to its average volume of 160,695. The company’s 50 day moving average is $52.09 and its two-hundred day moving average is $54.20. The company has a market cap of $2.99 billion, a P/E ratio of 58.43 and a beta of -0.41. Safehold has a 1 year low of $26.61 and a 1 year high of $67.18.
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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