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) has announced an adjustment to the conversion rate of its 3.125% Convertible Senior Notes due 2022, effective May 31, 2021. The new conversion price stands at $14.04 per share, allowing for 71.2325 shares of common stock per $1,000 principal amount of notes. This adjustment is in response to cash dividends payable on June 15, 2021. The company, a pioneer in the ground lease sector through its subsidiary Safehold Inc. (NYSE: SAFE), is focused on maximizing value in commercial real estate markets, having completed over $40 billion in transactions.
iStar Inc. (NYSE: STAR) announced that its Chief Financial Officer, Jeremy Fox-Geen, will be leaving to pursue a role in the cryptocurrency infrastructure sector. CEO Jay Sugarman expressed gratitude for Fox-Geen's contributions and stated that iStar will not seek a replacement in the near term, relying on existing capital markets and investor relations teams. iStar focuses on reinventing the ground lease sector, aiming to unlock value in $7 trillion commercial real estate through modern leases, having completed over $40 billion in transactions over two decades.
Safehold Inc. (NYSE: SAFE) announced that CFO Jeremy Fox-Geen will depart this month to pursue an opportunity in cryptocurrency infrastructure. CEO Jay Sugarman expressed gratitude for Fox-Geen's contributions and confirmed the absence of an immediate replacement, emphasizing the strength of their capital markets and investor relations teams. Safehold continues to focus on scaling its ground lease ecosystem to enhance its portfolio's value.
iStar Inc. (NYSE: STAR) reported first-quarter results for 2021, indicating a net loss of $0.4 million or $0.01 per diluted share. Adjusted earnings stood at $22.7 million, equating to $0.30 per diluted share. The company realized $56 million from legacy asset sales, achieving a 6% reduction in its legacy asset portfolio. iStar's Safehold position reflects a market value of $2.4 billion with 34.8 million shares. CEO Jay Sugarman expressed satisfaction with the progress in scaling and maintaining a robust balance sheet, emphasizing their strategic focus for the year.
Safehold has priced a public offering of $400 million of 2.800% senior notes due in 2031. The notes were priced at 99.127% of principal and will mature on June 15, 2031. The offering is expected to settle on May 7, 2021. Proceeds will be used to repay borrowings under an unsecured credit facility and for general corporate purposes, including investments in ground leases. J.P. Morgan, Goldman Sachs, and BofA Securities are among the underwriters. The offering is made under an effective shelf registration statement.
Safehold Inc. (NYSE: SAFE) announced its first-quarter 2021 results, reporting revenue of $43.5 million and a net income of $16.9 million. The company achieved an earnings per share of $0.32. Safehold also completed $166 million in new ground lease investments with an effective yield of 5.3%, along with securing a $1.0 billion recast unsecured revolving credit facility. With $770 million in cash and credit availability, Safehold is positioned for growth and expansion in the ground lease market.
Safehold Inc. (NYSE: SAFE) will release its financial results for Q1 2021 on April 22, 2021, before market open. A conference call will follow at 10:00 a.m. ET to discuss the results and operations, accessible via the company's website. Safehold innovates real estate ownership by enhancing land value for property owners. The firm, operating as a REIT, aims to provide safe income and long-term capital appreciation to shareholders, leveraging its expertise in the ground lease industry created in 2017.
iStar Inc. (NYSE: STAR) will release its Q1 2021 financial results on April 29, 2021, before market opening. A live conference call to discuss these results will take place at 10:00 a.m. ET, accessible via iStar's website. The call will provide insights into iStar's operations and its role in the $7 trillion institutional commercial real estate market. iStar is the largest shareholder of Safehold Inc. (NYSE: SAFE), focusing on modern ground leases to unlock value for real estate owners. Past transactions exceed $40 billion over two decades.
Safehold Inc. (NYSE: SAFE) has upgraded its credit facility, replacing a $600 million secured revolving credit with a new $1.0 billion unsecured revolving credit facility. This change results in a 30 basis point reduction in interest rates, now set at LIBOR plus 100 basis points. The facility matures in March 2024 and includes two extension options. CEO Jay Sugarman highlighted the move as a significant step in enhancing financial flexibility and accessing lower-cost capital.
Safehold Inc. (NYSE: SAFE) announced that Jeremy Fox-Geen, CFO, will present at the Sidoti Spring 2021 Investor Conference on March 25, 2021, at 9:15 AM ET. The presentation will be broadcast live, and interested parties can access the link and investor presentation via Safehold's website under the 'Investors' section.
Safehold is transforming real estate ownership by optimizing land value for multifamily, office, and mixed-use properties, aiming to provide safe income and long-term capital appreciation for shareholders.
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