Analysts expect Safehold Inc (NYSE:SAFE) to announce sales of $20.28 million for the current quarter, according to Zacks Investment Research. Two analysts have issued estimates for Safehold’s earnings. The lowest sales estimate is $20.20 million and the highest is $20.36 million. Safehold reported sales of $11.57 million during the same quarter last year, which indicates a positive year-over-year growth rate of 75.3%. The firm is scheduled to issue its next earnings results on Thursday, July 25th.
According to Zacks, analysts expect that Safehold will report full year sales of $87.01 million for the current fiscal year, with estimates ranging from $84.80 million to $89.21 million. For the next financial year, analysts forecast that the business will post sales of $111.17 million, with estimates ranging from $96.90 million to $125.43 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that cover Safehold.
Safehold (NYSE:SAFE) last issued its quarterly earnings data on Thursday, April 25th. The company reported $0.36 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by ($0.01). The business had revenue of $21.80 million during the quarter, compared to analyst estimates of $20.81 million. Safehold had a net margin of 31.96% and a return on equity of 4.50%.
In related news, major shareholder Istar Inc. acquired 7,489 shares of the business’s stock in a transaction dated Wednesday, February 27th. The shares were acquired at an average cost of $19.42 per share, for a total transaction of $145,436.38. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Over the last quarter, insiders have bought 151,187 shares of company stock worth $3,355,478. Insiders own 1.47% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in shares of Safehold by 13.6% during the 3rd quarter. Vanguard Group Inc. now owns 489,102 shares of the company’s stock worth $9,161,000 after acquiring an additional 58,531 shares during the period. Vanguard Group Inc lifted its holdings in shares of Safehold by 13.6% during the 3rd quarter. Vanguard Group Inc now owns 489,102 shares of the company’s stock worth $9,161,000 after acquiring an additional 58,531 shares during the period. FMR LLC raised its holdings in Safehold by 7.7% in the first quarter. FMR LLC now owns 484,299 shares of the company’s stock valued at $10,563,000 after buying an additional 34,628 shares during the period. BlackRock Inc. raised its holdings in Safehold by 2.6% in the first quarter. BlackRock Inc. now owns 479,475 shares of the company’s stock valued at $10,456,000 after buying an additional 12,165 shares during the period. Finally, State of New Jersey Common Pension Fund D raised its holdings in Safehold by 4.4% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 418,916 shares of the company’s stock valued at $7,880,000 after buying an additional 17,500 shares during the period. Institutional investors and hedge funds own 34.42% of the company’s stock.
NYSE SAFE traded up $0.33 during trading hours on Friday, reaching $28.32. The company’s stock had a trading volume of 48,400 shares, compared to its average volume of 36,909. The stock has a market cap of $514.61 million, a price-to-earnings ratio of 44.25 and a beta of 0.30. Safehold has a fifty-two week low of $16.13 and a fifty-two week high of $28.50.
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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