Welcome to our dedicated page for Safehold news (Ticker: SAFE), a resource for investors and traders seeking the latest updates and insights on Safehold stock.
Safehold Inc. (NYSE: SAFE) is pioneering the evolution of real estate ownership through the innovative use of ground leases. Established in 2017, Safehold has become the leader in the modern ground lease sector, helping property owners unlock the value of the land beneath their buildings. By acquiring, managing, and capitalizing ground leases, Safehold delivers a new avenue for property owners to generate higher returns with reduced risk.
Ground leases are long-term contracts where the landlord, Safehold, leases the land to tenants who own the buildings on it. This unique business model focuses on high-quality properties across multifamily, office, industrial, hospitality, student housing, life science, and mixed-use sectors. Safehold's diverse portfolio spans major metropolitan markets, ensuring a robust and balanced investment strategy.
As a Real Estate Investment Trust (REIT), Safehold is dedicated to providing safe, growing income and long-term capital appreciation to its shareholders. The company's innovative approach allows property owners to optimize their capital structure, freeing up equity that can be reinvested into their core business operations.
Despite a challenging economic environment, 2023 was a transformational year for Safehold. The company reported solid earnings and completed multiple capital raises, enhancing its liquidity and flexibility. Jay Sugarman, Chairman and CEO, expressed optimism about the future, emphasizing Safehold's strong position to serve its customers and expand the ground lease market.
Recent partnerships and projects highlight Safehold’s growing influence. In June 2024, the company closed a ground lease to support the development of The Orion, a 166-unit senior affordable community in Orange, California. This project, led by USA Properties Fund, reflects Safehold's commitment to fostering high-quality, sustainable developments.
Safehold continues to excel in financial performance, demonstrating resilience through market volatility. The company consistently delivers value to its shareholders through dividends and strategic investments. Safehold’s innovative business model and strategic market positioning ensure its continued growth and leadership in the real estate sector.
For further information, visit Safehold's website or tune into their quarterly earnings calls, which offer detailed insights into the company’s operations and financial health.
Safehold Inc. (NYSE: SAFE) has received a credit rating upgrade to A- from BBB+ from Fitch Ratings, with a stable outlook. The upgrade extends to the company's operating subsidiary, Safehold GL Holdings Fitch's decision reflects SAFE's focus on low-risk ground lease assets, increased use of unsecured debt, improved portfolio diversity, strong asset quality, low leverage, solid dividend coverage, and experienced management.
The company's CFO, Brett Asnas, highlighted that having 'A' ratings from two major agencies will improve cost and access to capital, benefiting both shareholders and customers. Safehold, established in 2017, specializes in modern ground lease solutions for various property types including multifamily, office, industrial, hospitality, student housing, life science, and mixed-use properties.
Safehold Inc. (NYSE: SAFE) has announced its fourth quarter 2024 common stock dividend of $0.177 per share, representing an annualized rate of $0.708 per share. The dividend will be paid on January 15, 2025, to shareholders of record as of December 30, 2024.
Safehold, established in 2017, operates as a real estate investment trust (REIT) focused on revolutionizing real estate ownership through modern ground lease solutions. The company helps property owners of various asset types, including multifamily, office, industrial, hospitality, student housing, life science, and mixed-use properties, achieve higher returns with reduced risk.
Safehold (NYSE: SAFE) announced that its operating company, Safehold GL Holdings , has priced a $400 million public offering of 5.650% senior notes due 2035. The notes, priced at 98.812% of principal amount, will yield 5.804% semi-annually at maturity. Following a hedge termination with a $22 million cash settlement gain, the effective semi-annual yield is expected to be approximately 5.09%. The proceeds will be used for general corporate purposes, including repaying revolver borrowings, investing in ground leases, and funding existing commitments. The offering is expected to settle on November 14, 2024.
Safehold (NYSE: SAFE) announced that S&P Global Ratings has assigned it an initial credit rating of BBB+ with a positive outlook. This rating also applies to its subsidiary, Safehold GL Holdings According to CFO Brett Asnas, this rating reflects Safehold's strong asset quality, stable funding strategy, and market-leading position. S&P's report highlighted Safehold's focus on high-quality, long-term ground leases with predictable, contractually growing cash flows over 99 years, low leverage, and diversified funding. This rating is expected to improve Safehold's cost of capital and access to capital, aiding in long-term value creation for shareholders.
Star Holdings (NASDAQ: STHO) reported Q3 2024 results with net income of $91.9 million and earnings per share of $6.90. The results include a non-cash adjustment of $93.8 million related to their investment in 13.5 million SAFE shares, which increased EPS by $7.05. The company generated $6.1 million in land revenues from selling 31 lots at Magnolia Green and recorded $3.7 million in real estate income from final condominium closings at Asbury Ocean Club.
Safehold Inc. (NYSE: SAFE) reported its Q3 2024 results with revenue of $90.7 million and net income of $19.3 million. The company achieved earnings per share of $0.27, or $0.37 excluding non-cash credit loss provisions. During the quarter, Safehold closed $104 million in new originations, including three ground leases for $72 million and one leasehold loan for $32 million. The company also purchased its joint venture partner's ownership interest in all ground leases for a total commitment of $69 million, aiming to grow earnings and diversify its portfolio despite ongoing rate volatility in the real estate market.
Safehold Inc. (NYSE: SAFE) has announced the release date for its third quarter 2024 financial results. The company will disclose its results after the market close on Monday, October 28, 2024. Following this, Safehold will host an earnings conference call on Tuesday, October 29, 2024, at 9:00 a.m. ET to review the results and discuss operations.
Interested parties can access the live broadcast through Safehold's website. For those unable to attend, a replay will be available via dial-in from October 29, 2024, to November 12, 2024. Safehold, a real estate investment trust (REIT), is known for revolutionizing real estate ownership by providing innovative ground lease solutions for high-quality properties across various sectors.
Safehold Inc. (NYSE: SAFE) has declared a common stock dividend of $0.177 per share for the third quarter of 2024. This dividend represents an annualized rate of $0.708 per share and will be payable on October 15, 2024, to shareholders of record as of September 30, 2024. Safehold, established in 2017, is a real estate investment trust (REIT) that specializes in creating modern ground leases. The company aims to provide property owners with a new way to unlock the value of land beneath their buildings, offering higher returns with reduced risk across various real estate sectors including multifamily, office, industrial, hospitality, student housing, life science, and mixed-use properties.
Star Holdings (NASDAQ: STHO) reported its Q2 2024 results, filing a Quarterly Report on Form 10-Q. The company experienced a net loss of $27.1 million, with earnings per share at ($2.04). This includes a non-cash adjustment of ($17.7 million), reducing EPS by ($1.33), related to its investment in SAFE shares. Star Holdings recorded $15.7 million in land revenues, primarily from a Coney Island parcel and 50 lots at Magnolia Green.
The company's portfolio includes interests in the Asbury Park Waterfront, Magnolia Green residential development projects, and other commercial real estate properties and loans intended for monetization. Star Holdings also owns shares of Safehold Inc. (NYSE: SAFE) and aims to maximize shareholder value through active asset management and sales.
Safehold Inc. (NYSE: SAFE) reported strong Q2 2024 results, with revenue up 5% year-over-year to $89.9 million and net income attributable to common shareholders increasing 34% to $29.7 million. Earnings per share rose 20% to $0.42. The company closed six new ground leases for $98 million, bringing its total portfolio to 143 ground leases valued at $6.5 billion. Safehold also secured a new $2.0 billion unsecured revolving credit facility, replacing previous facilities and reducing costs. Additionally, the company established a $750 million unsecured commercial paper note program. CEO Jay Sugarman expressed optimism about increasing transaction activity and the company's ability to deliver value to customers.
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