Safehold Inc - SAFE STOCK NEWS

Safehold (NYSE: SAFE) announced an upsized public offering of 2,000,000 shares at $59.00 per share, totaling $118.0 million in gross proceeds, set to close on March 7, 2022. The offering includes a 30-day option for underwriters to purchase an additional 300,000 shares. Concurrently, the company will privately place 3,240,000 shares with iStar (NYSE: STAR), raising approximately $191.2 million. The total proceeds from both offerings will be around $309.2 million, which will be used to invest in ground leases, repay credit facility borrowings, and for general corporate purposes.

Safehold Inc. (NYSE: SAFE) announced a public offering of 1,750,000 shares of common stock, with an option for underwriters to purchase an additional 262,500 shares. Concurrently, Safehold will sell shares equivalent to 64.93% of the total offering to iStar Inc. (NYSE: STAR) for $185 million. The proceeds will be used for investments in ground leases, repaying credit facility borrowings, and general corporate purposes. This offering is part of an effective shelf registration filed with the SEC.

iStar Inc. (NYSE: STAR) reported Q4 2021 net income of $7.1 million ($0.11/share) and FY 2021 net income of $109.0 million ($1.51/share). Adjusted earnings for Q4 were $68.9 million ($0.87/share) and for FY $244.9 million ($3.12/share). The company achieved $140 million in asset sales, with $34 million in gains in Q4. In addition, iStar repurchased $31 million worth of shares. A definitive agreement to sell net lease assets for $3.07 billion was also signed recently.

iStar Inc. (NYSE: STAR) announced a quarterly dividend of $0.125 per share on its Common Stock and $0.50 on the 8.00% Series D Preferred Stock, $0.478125 on the 7.65% Series G Preferred Stock, and $0.46875 on the 7.50% Series I Preferred Stock. All dividends are payable on March 15, 2022, to shareholders of record by March 1, 2022. iStar is a leader in the ground lease sector, capitalizing on a $7 trillion market, having completed over $40 billion in transactions. This reinforces the company's commitment to shareholder returns while expanding its market footprint.

Safehold Inc. (NYSE: SAFE) announced strong financial results for Q4 and the full fiscal year 2021. Revenue reached $52.0 million, a 30% year-over-year increase, while net income was $21.3 million, representing a 39% rise. Earnings per share also grew to $0.38, up 29%. The company successfully closed 17 ground leases worth $777 million, increasing its total portfolio to 106 leases valued at $4.8 billion. Safehold has raised its target portfolio guidance to $7.5 billion by December 2023, an increase from the previous $6.4 billion.

Safehold Inc. (NYSE: SAFE) announced the successful sale of 108,571 Caret Units and secured a binding commitment for an additional 28,571 Units, totaling $24.0 million. This transaction represents 1.37% of the authorized units, valuing the total at $1.75 billion. The purchasers include prominent investors such as Ribbit Capital and Kevin Durant's family office. Safehold retains approximately 84% ownership of the Caret Units and aims for a public market listing within two years. The estimated Unrealized Capital Appreciation stands at $8.1 billion as of December 31, 2021.

iStar Inc. (NYSE: STAR) will release its fourth quarter and fiscal year 2021 financial results on February 24, 2022, before market opening. An earnings conference call will be held at 10:00 a.m. ET, accessible via iStar's website. The call will provide insights into the company's operations and financial performance. iStar focuses on modernizing the ground lease sector to unlock value in $7 trillion of institutional commercial real estate, with over $40 billion in transactions completed over two decades. More details can be found on their website.

Safehold Inc. (NYSE: SAFE) will announce its financial results for Q4 and FY 2021 on February 15, 2022, before market open. The company will host a conference call at 10:00 a.m. ET to review its performance and operations. This can be accessed via its website. Safehold, a leader in modern ground leases, aims to optimize real estate ownership by offering innovative solutions for property owners, enabling them to maximize returns while minimizing risks. The firm operates as a real estate investment trust (REIT) and is managed by its largest shareholder, iStar.

Safehold Inc. (NYSE: SAFE) has successfully closed its third ground lease in the Phoenix MSA for $54 million, facilitating the acquisition of Rise on Apache, a Class A student housing property located near Arizona State University. This transaction, completed in December 2021, is Safehold's second student housing ground lease in Tempe, AZ. Rise on Apache is a 15-story building featuring 384 units and 833 beds, with high-end amenities. Tim Doherty, Head of Investments, expressed excitement over the partnership with Invesco as a new customer.