Brokerages expect Safehold Inc. (NYSE:SAFE) to announce $45.44 million in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have issued estimates for Safehold’s earnings. The highest sales estimate is $46.51 million and the lowest is $44.40 million. Safehold posted sales of $37.40 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 21.5%. The business is expected to announce its next quarterly earnings results on Thursday, July 22nd.
According to Zacks, analysts expect that Safehold will report full year sales of $189.43 million for the current fiscal year, with estimates ranging from $186.50 million to $193.68 million. For the next fiscal year, analysts forecast that the business will report sales of $243.05 million, with estimates ranging from $233.70 million to $258.35 million. Zacks Investment Research’s sales calculations are an average based on a survey of research firms that cover Safehold.
Safehold (NYSE:SAFE) last announced its quarterly earnings data on Thursday, April 22nd. The company reported $0.32 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.32. Safehold had a return on equity of 4.60% and a net margin of 38.08%. The business had revenue of $43.50 million during the quarter, compared to the consensus estimate of $43.10 million.
Shares of Safehold stock traded up $0.57 on Tuesday, reaching $69.68. 85,125 shares of the company were exchanged, compared to its average volume of 110,379. Safehold has a 1-year low of $46.67 and a 1-year high of $84.99. The company has a market cap of $3.71 billion, a P/E ratio of 61.90 and a beta of -0.46. The stock’s 50 day moving average price is $69.68 and its 200-day moving average price is $72.12.
The firm also recently announced a quarterly dividend, which was paid on Thursday, April 15th. Stockholders of record on Wednesday, March 31st were given a dividend of $0.1623 per share. This represents a $0.65 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date was Tuesday, March 30th. Safehold’s payout ratio is 73.03%.
In other news, Director Dean S. Adler sold 8,792 shares of the business’s stock in a transaction that occurred on Thursday, March 18th. The stock was sold at an average price of $76.54, for a total transaction of $672,939.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Dean S. Adler sold 36,200 shares of the business’s stock in a transaction that occurred on Friday, March 12th. The stock was sold at an average price of $74.80, for a total value of $2,707,760.00. Over the last ninety days, insiders have sold 84,233 shares of company stock worth $6,383,029. Corporate insiders own 0.53% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in SAFE. Dynamic Technology Lab Private Ltd acquired a new stake in shares of Safehold during the 1st quarter valued at about $295,000. Primecap Management Co. CA increased its position in Safehold by 24.4% in the 1st quarter. Primecap Management Co. CA now owns 13,000 shares of the company’s stock worth $911,000 after buying an additional 2,550 shares during the period. Barclays PLC increased its position in Safehold by 25.5% in the 1st quarter. Barclays PLC now owns 29,500 shares of the company’s stock worth $2,068,000 after buying an additional 5,992 shares during the period. Sawtooth Solutions LLC bought a new position in Safehold in the 1st quarter worth approximately $229,000. Finally, Duality Advisers LP bought a new position in Safehold in the 1st quarter worth approximately $491,000. 26.40% of the stock is currently owned by institutional investors.
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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