Wedbush Weighs in on Safehold Inc.’s FY2024 Earnings (NYSE:SAFE)

Safehold Inc. (NYSE:SAFE) – Investment analysts at Wedbush raised their FY2024 earnings estimates for Safehold in a research note issued to investors on Tuesday, July 30th. Wedbush analyst R. Anderson now expects that the company will post earnings per share of $1.56 for the year, up from their prior estimate of $1.51. Wedbush has a “Neutral” rating and a $25.00 price target on the stock. The consensus estimate for Safehold’s current full-year earnings is $1.57 per share. Wedbush also issued estimates for Safehold’s Q4 2024 earnings at $0.37 EPS and FY2025 earnings at $1.64 EPS.

A number of other equities analysts have also commented on SAFE. Royal Bank of Canada decreased their price objective on shares of Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a research note on Wednesday, May 8th. JMP Securities reaffirmed a “market outperform” rating and issued a $35.00 target price on shares of Safehold in a research report on Thursday, May 16th. Mizuho lowered Safehold from a “buy” rating to a “neutral” rating and dropped their price target for the company from $22.00 to $20.00 in a research report on Friday, May 10th. JPMorgan Chase & Co. decreased their price objective on Safehold from $23.00 to $21.00 and set a “neutral” rating for the company in a research report on Wednesday, April 17th. Finally, The Goldman Sachs Group upped their target price on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a report on Friday, June 28th. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.89.

Safehold Price Performance

SAFE stock opened at $23.02 on Friday. Safehold has a one year low of $15.00 and a one year high of $24.32. The firm has a 50-day moving average of $19.87 and a two-hundred day moving average of $19.99. The company has a current ratio of 39.68, a quick ratio of 42.51 and a debt-to-equity ratio of 1.76. The firm has a market capitalization of $1.64 billion, a PE ratio of -51.16 and a beta of 1.65.

Safehold (NYSE:SAFE) last announced its earnings results on Monday, July 29th. The company reported $0.41 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.38 by $0.03. Safehold had a positive return on equity of 4.64% and a negative net margin of 5.76%. The company had revenue of $89.90 million for the quarter, compared to analyst estimates of $87.28 million. During the same period in the previous year, the firm earned $0.35 earnings per share. Safehold’s revenue for the quarter was up 4.9% compared to the same quarter last year.

Institutional Investors Weigh In On Safehold

Institutional investors and hedge funds have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in Safehold in the 4th quarter valued at approximately $33,000. Roble Belko & Company Inc bought a new stake in shares of Safehold in the first quarter valued at approximately $45,000. Fifth Third Bancorp boosted its position in shares of Safehold by 78.0% in the fourth quarter. Fifth Third Bancorp now owns 2,482 shares of the company’s stock valued at $58,000 after acquiring an additional 1,088 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of Safehold by 65.6% in the fourth quarter. PNC Financial Services Group Inc. now owns 7,488 shares of the company’s stock worth $175,000 after acquiring an additional 2,965 shares during the last quarter. Finally, ProShare Advisors LLC increased its position in Safehold by 7.5% during the first quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after acquiring an additional 676 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, July 15th. Stockholders of record on Friday, June 28th were paid a dividend of $0.177 per share. The ex-dividend date was Friday, June 28th. This represents a $0.71 annualized dividend and a dividend yield of 3.08%. Safehold’s dividend payout ratio (DPR) is -155.56%.

About Safehold

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. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk.