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

Safehold Inc. (NYSE:SAFE) – Research analysts at Wedbush reduced their FY2024 earnings per share estimates for Safehold in a report released on Monday, November 4th. Wedbush analyst R. Anderson now expects that the company will post earnings of $1.55 per share for the year, down from their previous forecast of $1.56. Wedbush has a “Neutral” rating and a $23.00 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 $0.34 EPS, Q3 2025 earnings at $0.39 EPS, Q4 2025 earnings at $0.39 EPS and FY2025 earnings at $1.61 EPS.

Several other research firms have also issued reports on SAFE. Raymond James upgraded Safehold from a “market perform” rating to an “outperform” rating and set a $34.00 price objective for the company in a research note on Thursday, September 19th. JMP Securities reissued a “market outperform” rating and set a $35.00 price target on shares of Safehold in a report on Tuesday, October 29th. Mizuho raised their price objective on shares of Safehold from $20.00 to $25.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Truist Financial boosted their target price on Safehold from $21.00 to $22.00 and gave the stock a “hold” rating in a report on Monday, August 5th. Finally, The Goldman Sachs Group dropped their price target on Safehold from $38.00 to $30.00 and set a “buy” rating for the company in a report on Friday, November 1st. 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 presently has an average rating of “Moderate Buy” and an average price target of $28.22.

Safehold Stock Performance

NYSE SAFE opened at $20.58 on Thursday. The stock has a market cap of $1.47 billion, a P/E ratio of 12.10 and a beta of 1.68. The company has a quick ratio of 37.83, a current ratio of 37.83 and a debt-to-equity ratio of 1.85. Safehold has a twelve month low of $16.27 and a twelve month high of $28.80. The company’s 50-day simple moving average is $24.70 and its 200 day simple moving average is $22.03.

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

Institutional Trading of Safehold

Institutional investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Safehold by 1.8% in the 1st quarter. Vanguard Group Inc. now owns 7,861,603 shares of the company’s stock valued at $161,949,000 after acquiring an additional 141,245 shares during the last quarter. Long Pond Capital LP increased its stake in Safehold by 14.9% in the second quarter. Long Pond Capital LP now owns 2,662,579 shares of the company’s stock valued at $51,361,000 after purchasing an additional 345,661 shares in the last quarter. Sei Investments Co. raised its holdings in Safehold by 3.2% in the second quarter. Sei Investments Co. now owns 670,065 shares of the company’s stock worth $12,926,000 after purchasing an additional 20,483 shares during the period. Bank of New York Mellon Corp boosted its position in shares of Safehold by 7.9% during the second quarter. Bank of New York Mellon Corp now owns 470,708 shares of the company’s stock worth $9,080,000 after purchasing an additional 34,404 shares in the last quarter. Finally, Peregrine Capital Management LLC boosted its position in shares of Safehold by 10.0% during the second quarter. Peregrine Capital Management LLC now owns 385,858 shares of the company’s stock worth $7,443,000 after purchasing an additional 35,046 shares in the last quarter. Institutional investors and hedge funds own 70.38% of the company’s stock.

Safehold Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.177 dividend. 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%.

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.