Wedbush Forecasts Safehold’s FY2024 Earnings (NYSE:SAFE)

Safehold Inc. (NYSE:SAFE) – Wedbush reduced their FY2024 EPS estimates for Safehold in a research report issued to clients and investors on Monday, November 4th. Wedbush analyst R. Anderson now anticipates that the company will earn $1.55 per share for the year, down from their previous estimate of $1.56. Wedbush has a “Neutral” rating and a $23.00 price objective 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 $0.34 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.39 EPS and FY2025 earnings at $1.61 EPS.

SAFE has been the subject of several other reports. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price target for the company in a report on Thursday, September 19th. The Goldman Sachs Group cut their target price on shares of Safehold from $38.00 to $30.00 and set a “buy” rating on the stock in a report on Friday, November 1st. Royal Bank of Canada lifted their price objective on shares of Safehold from $30.00 to $31.00 and gave the company an “outperform” rating in a research report on Wednesday, October 30th. Mizuho upped their target price on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Truist Financial lifted their price target on Safehold from $21.00 to $22.00 and gave the company a “hold” rating in a report on Monday, August 5th. Four analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Safehold currently has a consensus rating of “Moderate Buy” and a consensus price target of $28.22.

Safehold Stock Down 0.5 %

Shares of SAFE opened at $20.58 on Thursday. The firm has a market cap of $1.47 billion, a PE ratio of 12.10 and a beta of 1.68. Safehold has a fifty-two week low of $16.27 and a fifty-two week high of $28.80. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. The company’s fifty day moving average is $24.70 and its two-hundred day moving average is $22.03.

Safehold (NYSE:SAFE) last issued its quarterly earnings results on Monday, October 28th. The company reported $0.37 earnings per share for the quarter, meeting the consensus estimate of $0.37. Safehold had a return on equity of 4.79% and a net margin of 32.08%. The company had revenue of $90.70 million during the quarter, compared to the consensus estimate of $89.45 million. During the same period in the previous year, the firm posted $0.33 EPS. Safehold’s revenue was up 6.0% on a year-over-year basis.

Institutional Investors Weigh In On Safehold

Several hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC lifted its stake in Safehold by 108.7% during the third quarter. GAMMA Investing LLC now owns 1,766 shares of the company’s stock valued at $46,000 after buying an additional 920 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in Safehold by 35.4% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 1,802 shares of the company’s stock valued at $47,000 after acquiring an additional 471 shares in the last quarter. KBC Group NV lifted its stake in shares of Safehold by 79.3% in the 3rd quarter. KBC Group NV now owns 2,883 shares of the company’s stock valued at $76,000 after purchasing an additional 1,275 shares during the last quarter. ProShare Advisors LLC boosted its stake in shares of Safehold by 7.5% during the 1st quarter. ProShare Advisors LLC now owns 9,728 shares of the company’s stock worth $200,000 after acquiring an additional 676 shares in the last quarter. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in shares of Safehold in the second quarter valued at approximately $204,000. 70.38% of the stock is currently owned by institutional investors.

Safehold Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were paid a dividend of $0.177 per share. The ex-dividend date was Monday, September 30th. This represents a $0.71 annualized dividend and a yield of 3.44%. Safehold’s dividend payout ratio is currently 41.18%.

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. 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.