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Safehold Inc. (SAFE)
:SAFE
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Earnings Data
Report Date
Feb 17, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
0.37Last Year’s EPS
0.36Same Quarter Last Year
Moderate Buy
Based on 7 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 01, 2018
|% Change Since: -27.04%
|Next Earnings Date:Aug 02, 2018
Earnings Call Sentiment|Neutral
The earnings call presented a mix of positive developments, such as steady investment activity and strong liquidity, alongside challenges related to the rate environment and non-cash provisions. While the highlights are notable, the impact of negative factors suggests a balanced outlook.Company Guidance
During the third quarter of 2024, Safehold reported notable investment activities, including acquiring minority ownership interests from its joint venture partner in nine ground leases, totaling a purchase price of $80 million. The company achieved new origination activity of $104 million, comprising $72 million in multifamily ground leases and a $32 million leasehold loan. Safehold's portfolio yielded a GLTV of 29%, rent coverage of 3.2x, and an economic yield of 7.2%. The total portfolio value stood at $6.7 billion with approximately $955 million in liquidity. Year-over-year earnings per share increased by 11% to $0.37, excluding certain non-cash provisions. The company remains focused on multifamily assets, which now represent 58% of its portfolio, and has expanded its unrealized capital appreciation to $9.1 billion, reflecting a diversified asset base of institutional quality real estate. Safehold also highlighted a robust balance sheet with a 1.99x debt-to-equity leverage, $4.6 billion in debt, and credit ratings of A3 and BBB+ with stable and positive outlooks, respectively.Steady Investment Activity and Attractive Yields
The third quarter saw steady investment activity, including the purchase of minority ownership interest and multifamily ground leases, executed at attractive yields at the higher end of targeted ROAs.
New Origination Activity
New origination activity was $104 million, including 3 multifamily ground leases for $72 million and 1 leasehold loan for $32 million, with a GLTV of 29%, rent coverage of 3.2x, and an economic yield of 7.2%.
Strong Liquidity Position
The company ended the quarter with approximately $955 million of liquidity, further supported by potential available capacity in the joint venture.
Positive GAAP Earnings Growth
Excluding non-cash items, EPS for the quarter was $0.37, up $0.04 or 11% year-over-year.
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SAFE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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SAFE Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 28, 2024 | $23.30 | $22.27 | -4.42% |
| Jul 29, 2024 | $22.26 | $22.80 | +2.43% |
| May 06, 2024 | $18.61 | $19.30 | +3.71% |
| Feb 12, 2024 | $20.12 | $18.94 | -5.86% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does Safehold Inc. (SAFE) report earnings?
Safehold Inc. (SAFE) is schdueled to report earning on Feb 17, 2025, TBA Not Confirmed.
What is Safehold Inc. (SAFE) earnings time?
Safehold Inc. (SAFE) earnings time is at Feb 17, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is SAFE EPS forecast?
SAFE EPS forecast for the fiscal quarter 2024 (Q4) is 0.37.
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