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.
iStar Inc. (NYSE: STAR) announced an adjustment to its 3.125% Convertible Senior Notes due 2022 conversion rate, set to $13.90 per share, effective November 30, 2021. This adjustment follows the common stock cash dividends scheduled for December 15, 2021. Holders of the notes and U.S. Bank National Association have been notified as per the indenture terms. iStar is focused on reinventing the ground lease sector and has completed over $40 billion in transactions, aiming to unlock value for real estate owners.
iStar Inc. (NYSE: STAR) announced the declaration of its quarterly dividends for the fourth quarter of 2021. The dividends are scheduled for payment on December 15, 2021, to stockholders on record as of December 1, 2021. Common Stock dividends stand at $0.125 per share, while the preferred stock dividends include $0.50 for Series D and $0.478125 for Series G, each with a liquidation preference of $25.00. This reflects iStar's ongoing commitment to returning value to its shareholders.
Safehold Inc. (NYSE: SAFE) announced a public offering of $350 million in 2.850% senior notes due 2032, priced at 99.123% of the principal amount. The offering will settle on November 18, 2021. Proceeds will be used to repay borrowings under its unsecured revolving credit facility and for general corporate purposes, including potential investments in ground leases. The offering is managed by top financial institutions, indicating strong market interest.
iStar (NYSE: STAR) announced that it has secured necessary consents for amendments to the indentures of its 4.75% Senior Notes due 2024, 4.25% Senior Notes due 2025, and 5.50% Senior Notes due 2026. This follows a Consent Solicitation initiated on October 21, 2021, aimed at aligning the indentures with the anticipated sale of the Company’s net lease assets. Supplemental indentures have been executed, and consent fees are expected to be paid by November 1, 2021. iStar focuses on modern ground leases and is a major shareholder of Safehold (NYSE: SAFE).
Safehold Inc. (NYSE: SAFE) reported a strong third quarter for 2021 with $47.3 million in revenue, a 24% year-over-year increase. Net income reached $20.2 million, up 43% from the previous year, leading to earnings per share of $0.38, a 36% increase. The company raised $242 million through an equity offering, enhancing its liquidity and supporting growth, which included $321 million in new originations and a portfolio expansion of 9% to $4 billion.
Safehold Inc. (NYSE: SAFE) is set to release its financial results for Q3 2021 on October 21, 2021, before the market opens. An earnings conference call will occur at 10:00 a.m. ET to discuss these results, accessible via Safehold's website. Investors can dial in at 877.336.4440 (international: 409.207.6984) with access code 9109212. A replay will be available from 2:30 p.m. ET on the same day through November 4, 2021.
Safehold Inc. (NYSE: SAFE) has priced a public offering of 2,200,000 shares at $76.00 each, generating approximately $167.2 million in gross proceeds. The offering was upsized from 2,000,000 shares. A 30-day option for underwriters to purchase an additional 330,000 shares is included. Concurrently, the company is selling 657,894 shares to iStar Inc. (NYSE: STAR) for $50 million. In total, Safehold will raise $217.2 million for ground lease investments, credit facility repayments, and general corporate purposes. The offering closes on September 27, 2021.
Safehold Inc. (NYSE: SAFE) announced a public offering of 2,000,000 shares of its common stock, with an option for underwriters to purchase an additional 300,000 shares. Concurrently, the company will privately sell shares to iStar Inc. worth $50 million. The net proceeds will be used for investments in ground leases, repaying borrowings, and general corporate purposes. Goldman Sachs, BofA Securities, J.P. Morgan, and Morgan Stanley are the joint book-running managers for this offering.
Safehold Inc. (NYSE: SAFE) has announced a common stock dividend of $0.17 per share for Q3 2021, marking an annualized rate of $0.68 per share. The dividend is payable on October 15, 2021 to shareholders of record on September 30, 2021. This initiative reflects Safehold's commitment to delivering consistent returns and enhancing shareholder value, as the company continues to innovate within the real estate sector by optimizing ground lease structures.
iStar Inc. (NYSE: STAR) reported its second quarter results for the period ending June 30, 2021. The company faced a net loss of $19.5 million, equating to $0.27 per diluted share, while adjusted earnings stood at $12 million or $0.15 per diluted share. The unrealized gain on its Safehold investment grew by $289 million to $1.7 billion. Additionally, iStar received a credit rating upgrade from Fitch to BB and highlighted $34 million from legacy asset sales proceeds during the quarter, with a further $167 million closed after the quarter ended.
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