Equities analysts forecast that Safehold Inc (NYSE:SAFE) will report $22.44 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have provided estimates for Safehold’s earnings, with the highest sales estimate coming in at $22.57 million and the lowest estimate coming in at $22.30 million. Safehold posted sales of $11.64 million during the same quarter last year, which suggests a positive year-over-year growth rate of 92.8%. The company is scheduled to issue its next earnings results on Thursday, October 24th.

According to Zacks, analysts expect that Safehold will report full-year sales of $88.64 million for the current year, with estimates ranging from $88.20 million to $89.07 million. For the next fiscal year, analysts anticipate that the company will report sales of $122.30 million, with estimates ranging from $109.20 million to $135.40 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for Safehold.

Safehold (NYSE:SAFE) last released its quarterly earnings data on Friday, July 26th. The company reported $0.18 earnings per share for the quarter, missing the consensus estimate of $0.30 by ($0.12). The firm had revenue of $19.68 million for the quarter, compared to analyst estimates of $19.77 million. Safehold had a return on equity of 4.57% and a net margin of 32.29%.

SAFE has been the subject of several research analyst reports. TheStreet raised shares of Safehold from a “c” rating to a “b-” rating in a report on Wednesday, August 7th. ValuEngine downgraded shares of Safehold from a “buy” rating to a “hold” rating in a report on Thursday, August 1st. Barclays downgraded shares of Safehold from an “overweight” rating to an “underweight” rating and lifted their target price for the stock from $23.00 to $25.00 in a report on Tuesday, July 30th. They noted that the move was a valuation call. Finally, Zacks Investment Research raised shares of Safehold from a “hold” rating to a “strong-buy” rating and set a $33.00 target price for the company in a report on Saturday, August 10th. Two equities research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a strong buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $25.50.

In related news, major shareholder Istar Inc. bought 10,000 shares of Safehold stock in a transaction that occurred on Tuesday, May 21st. The stock was acquired at an average price of $28.30 per share, with a total value of $283,000.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders have purchased a total of 310,132 shares of company stock valued at $9,357,830 in the last ninety days. 1.47% of the stock is currently owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. UBS Group AG boosted its position in Safehold by 4.0% during the second quarter. UBS Group AG now owns 2,023,611 shares of the company’s stock worth $61,113,000 after purchasing an additional 77,779 shares during the period. Morgan Stanley boosted its position in shares of Safehold by 7.1% in the second quarter. Morgan Stanley now owns 59,907 shares of the company’s stock valued at $1,808,000 after acquiring an additional 3,951 shares during the period. Vanguard Group Inc. boosted its position in shares of Safehold by 14.3% in the second quarter. Vanguard Group Inc. now owns 568,043 shares of the company’s stock valued at $17,154,000 after acquiring an additional 71,109 shares during the period. BlackRock Inc. boosted its position in shares of Safehold by 11.2% in the second quarter. BlackRock Inc. now owns 533,274 shares of the company’s stock valued at $16,105,000 after acquiring an additional 53,799 shares during the period. Finally, Parametric Portfolio Associates LLC boosted its position in shares of Safehold by 28.7% in the second quarter. Parametric Portfolio Associates LLC now owns 16,490 shares of the company’s stock valued at $498,000 after acquiring an additional 3,680 shares during the period. 19.74% of the stock is owned by hedge funds and other institutional investors.

Shares of SAFE stock traded up $0.32 during midday trading on Monday, hitting $28.85. 142,900 shares of the company were exchanged, compared to its average volume of 216,583. The firm has a market capitalization of $981.66 million, a P/E ratio of 45.08 and a beta of 0.26. The firm’s 50 day moving average price is $31.65 and its two-hundred day moving average price is $25.69. Safehold has a 52 week low of $16.13 and a 52 week high of $34.14.

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. 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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