Safehold Inc - SAFE STOCK NEWS

Safehold Inc. (NYSE: SAFE) has declared a common stock dividend of $0.177 per share for Q1 2023, equating to an annualized rate of $0.708. This dividend will be payable on or after March 30, 2023 to stockholders on record as of the same date. The announcement coincides with the anticipated merger with iStar Inc. (STAR), where STAR will emerge as the surviving corporation. The merger is expected to close around March 31, 2023, pending certain conditions, and will replace the regular quarterly dividend, meaning no additional dividends for Q1 2023 from either company.

On March 17, 2023, iStar Inc. (NYSE: STAR) announced a conditional pro rata distribution of 0.153 common shares of Star Holdings to iStar shareholders as part of its spin-off of legacy assets. This distribution is set for March 31, 2023, for shareholders on record as of March 27, 2023, and is necessary for iStar's merger with Safehold Inc. (NYSE: SAFE). Star Holdings shares will trade on Nasdaq under the symbol 'STHO' following the spin-off. The merger with Safehold will occur immediately after the spinoff, subject to closing conditions. Shareholders will receive cash for fractional shares, and further details are available in the filed information statement.

iStar Inc. (NYSE: STAR) and Safehold Inc. (NYSE: SAFE) have received stockholder approval for their proposed merger, confirmed during special meetings held on March 9, 2023. At these meetings, STAR stockholders authorized the merger and the issuance of STAR common stock, while SAFE stockholders approved the merger alongside amendments to SAFE's Caret program. The merger's expected closing date is targeted for March 31, 2023, pending the fulfillment of various conditions. However, the timeline remains uncertain. The press release emphasizes the potential benefits and risks involved in the merger, as well as the future growth prospects for the combined entity.

iStar Inc. (NYSE: STAR) reported its fourth quarter and fiscal year 2022 results on February 21, 2023. The company recorded a net loss of ($86.7) million for Q4 '22, equating to ($1.00) per diluted share, while FY '22 net income reached $397.8 million or $4.92 per diluted share. Adjusted losses in Q4 '22 were ($79.9) million (($0.92) per share) with FY '22 adjusted earnings at $522.0 million or $6.25 per share. The company generated $150 million through asset sales in Q4 '22 and paid a special dividend of $192 million. They concluded 26 ground leases in 2022 totaling $1.4 billion, increasing their portfolio to 131 leases worth $6.2 billion.

iStar Inc. (NYSE: STAR) has declared quarterly dividends for its Preferred Stock for Q1 2023, payable on March 15, 2023, to record holders by March 1, 2023. The dividends include:

• 8.00% Series D: $0.50 per share
• 7.65% Series G: $0.478125 per share
• 7.50% Series I: $0.46875 per share

iStar focuses on modern ground leases, enhancing value for real estate owners across the $7 trillion commercial market. The firm has a history of over $40 billion in transactions, showcasing its innovation in the sector.

Safehold Inc. (NYCE: SAFE) reported strong financial performance for Q4 and FY 2022. Q4 '22 revenue reached $73.4 million, while FY '22 totaled $270.3 million. Net income for Q4 was $21.8 million and $135.4 million for the fiscal year. Earnings per share for Q4 stood at $0.35, with an annual EPS of $2.21. The company successfully closed 26 ground leases in 2022, valued at $1.4 billion, enhancing its portfolio to 131 leases worth $6.2 billion. Additionally, Safehold's UCA increased by $2.4 billion, totaling $10.5 billion. Credit ratings from Moody's and Fitch are on a positive outlook.

iStar Inc. (NYSE: STAR) announced it will release its financial results for Q4 and fiscal year 2022 on February 21, 2023, before market opening. The company will host an earnings conference call at 10:00 a.m. ET on the same day, accessible via its website. iStar focuses on enhancing the ground lease sector, targeting the $7 trillion commercial real estate market, leveraging its expertise in finance. With over $40 billion in transactions over the past two decades, iStar aims to expand modern ground leases and unlock value for real estate owners. Further details can be found on iStar's website.

Safehold Inc. (NYSE: SAFE) has announced its fourth quarter and fiscal year 2022 financial results will be released on February 14, 2023, prior to market open. The company will also host a conference call at 10:00 a.m. ET to discuss the results and operations, accessible via its website. Safehold, a leader in ground lease real estate, aims to provide innovative solutions to property owners, enhancing returns with lower risk. The company emphasizes its position as a real estate investment trust (REIT), focusing on delivering safe, growing income and capital appreciation to shareholders.

Safehold Inc. (NYSE: SAFE) announced on Feb. 1, 2023, that Fitch Ratings has affirmed its unsecured corporate credit rating at BBB+ and upgraded its outlook from Stable to Positive. This recognition reflects the strong credit characteristics of the business as it continues to expand its ground lease platform efficiently. Safehold, a pioneer in the modern ground lease industry, aims to unlock land value for owners of various property types, including multifamily and mixed-use properties. The company operates as a REIT, providing safe income and long-term capital appreciation to its shareholders.