Wedbush Research Analysts Reduce Earnings Estimates for Safehold Inc. (NYSE:SAFE)

Safehold Inc. (NYSE:SAFE) – Investment analysts at Wedbush decreased their Q3 2024 earnings per share (EPS) estimates for Safehold in a report issued on Tuesday, July 30th. Wedbush analyst R. Anderson now anticipates that the company will earn $0.35 per share for the quarter, down from their prior forecast of $0.36. 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 $1.58 per share. Wedbush also issued estimates for Safehold’s Q1 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.40 EPS and Q4 2025 earnings at $0.41 EPS.

A number of other equities analysts have also recently weighed in on the company. Mizuho cut Safehold from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $22.00 to $20.00 in a report on Friday, May 10th. Royal Bank of Canada cut their price objective on Safehold from $32.00 to $29.00 and set an “outperform” rating for the company in a research report on Wednesday, May 8th. The Goldman Sachs Group boosted their price objective on Safehold from $25.00 to $29.00 and gave the company a “buy” rating in a research report on Friday, June 28th. JPMorgan Chase & Co. cut 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, JMP Securities restated a “market outperform” rating and issued a $35.00 price objective on shares of Safehold in a research report on Thursday, May 16th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $27.89.

Safehold Trading Up 1.3 %

SAFE stock opened at $23.33 on Thursday. Safehold has a 52-week low of $15.00 and a 52-week high of $24.03. The company has a quick ratio of 42.51, a current ratio of 39.68 and a debt-to-equity ratio of 1.76. The firm has a market cap of $1.67 billion, a P/E ratio of -51.84 and a beta of 1.64. The company’s 50-day simple moving average is $20.03 and its 200-day simple moving average is $20.02.

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

Safehold Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, July 15th. Investors of record on Friday, June 28th were given a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 3.03%. The ex-dividend date was Friday, June 28th. Safehold’s payout ratio is -157.78%.

Institutional Trading of Safehold

Several large investors have recently made changes to their positions in the company. Strs Ohio grew its holdings in Safehold by 0.4% in the 4th quarter. Strs Ohio now owns 145,864 shares of the company’s stock valued at $3,413,000 after buying an additional 600 shares in the last quarter. ProShare Advisors LLC grew its holdings in Safehold by 7.5% in the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock valued at $200,000 after buying an additional 676 shares in the last quarter. Handelsbanken Fonder AB grew its holdings in Safehold by 6.8% in the 4th quarter. Handelsbanken Fonder AB now owns 11,043 shares of the company’s stock valued at $258,000 after buying an additional 700 shares in the last quarter. GAMMA Investing LLC grew its holdings in Safehold by 49.3% in the 1st quarter. GAMMA Investing LLC now owns 2,126 shares of the company’s stock valued at $44,000 after buying an additional 702 shares in the last quarter. Finally, Daiwa Securities Group Inc. grew its holdings in Safehold by 7.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 14,463 shares of the company’s stock valued at $298,000 after buying an additional 949 shares in the last quarter. 70.38% of the stock is currently owned by hedge funds and other institutional investors.

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. 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.