Stock Track | Safehold Plummets 5.62% Intraday After Q1 Earnings Miss Analyst Expectations
Stock Track
May 01
Safehold's stock price fell sharply by 5.62% during intraday trading on Friday, following the release of the company's first-quarter financial results.
The decline came after Safehold reported Q1 adjusted earnings of $0.40 per diluted share, which represents a decrease from $0.44 per share in the same period last year and fell short of the $0.44 per share that analysts had anticipated according to FactSet surveys.
While the company's revenue of $110.9 million for the quarter ended March 31 exceeded both the year-ago figure of $97.7 million and analyst expectations of $96.5 million, investors focused on the earnings miss, leading to the significant sell-off.
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