Safehold Inc.

Safehold Inc.

SAFE
Safehold Inc.US flagNew York Stock Exchange
15.25
USD
-0.22
- -
1.09BMarket Cap
2015 Y
2016 Y
2017 Y
2018 Y
2019 Y
2020 Y
2021 Y
2022 Y
2023 Y
2024 Y
2025 Y
TTM
Revenue per Share
1.02
1.2
- -
2.73
3.01
3.07
3.38
4.33
5.29
5.12
5.38
5.85
Basic EPS, GAAP
0.29
0.36
- -
0.64
0.89
1.17
1.32
2.17
-0.82
1.48
1.6
1.62
Free Cash Flow per Basic Share
0.28
0.3
- -
0.74
-44.07
-8.65
-22.1
1.04
0.23
0.53
0.67
0.52
Dividend per Share
- -
- -
- -
0.6
0.54
0.63
0.65
0.68
0.69
0.71
0.71
0.71
Book Value per Share
7.92
8.47
19.57
19.44
22.85
25.92
29.71
34.32
31.39
32.81
33.56
34.33
Tangible Book Value per Share
7.91
6.67
11.94
5.08
17.77
21.37
25.75
30.83
28.42
29.89
30.72
31.48
Basic Weighted Avg Shares
18
18
- -
18
31
51
55
62
67
71
72
72
Sales/Revenue/Turnover
19
22
- -
50
93
155
187
270
353
366
386
420
Operating Margin (%)
69.73
68.33
- -
56.95
71.64
77.71
78.09
81.01
76.53
78.51
80.75
76.54
Depreciation Expense
3
4
- -
12
12
12
12
12
12
12
11
10
Net Income, GAAP
5
7
- -
12
28
59
73
135
-55
106
114
116
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
3.13
2.49
2.72
Profit Margin (%)
28.81
30.42
- -
23.61
29.65
38.15
39.1
50.1
-15.59
28.92
29.69
27.69
Working Capital
6
10
171
40
485
734
905
1,496
1,872
2,063
2,300
2,447
LT Debt
- -
- -
307
544
1,379
1,690
2,703
3,527
3,970
4,228
4,492
4,559
Total Equity
144
154
356
357
1,093
1,381
1,685
2,165
2,296
2,374
2,440
2,633
Return on Invested Capital (%)
- -
9.97
- -
3.62
3.97
4.36
3.92
4.34
- -
4.32
4.49
4.48
Return on Capital (%)
- -
9.97
- -
3.44
3.05
4.45
4.09
5.06
- -
4.61
4.67
4.64
Return on Common Equity (%)
- -
4.44
- -
3.3
3.83
4.8
4.78
7.08
-2.51
4.62
4.82
4.83

Capital Structure

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
ST Debt
- -
- -
- -
LT Borrowings
4,486
4,597
4,554
LT Finance Leases
6
6
6
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
72
72
71
Market Capitalization
982
972
1,116

Working Capital

FRC

in mil. unless spec.
Dec'25
Mar'26
Jun'26
Total Current Assets
2,436
2,506
2,591
Cash, Cash Equivalents & STI
24
20
16
Accounts Receivable, Net
241
249
256
Inventories
- -
- -
- -
Total Current Liabilities
136
133
143
Payables & Accruals
136
133
143
ST Debt
- -
- -
- -
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
43.33%
12.54%
2.77%
Free Cash Flow
- -
33.85%
26.31%
Net Income, GAAP
- -
-63.25%
8.23%
Sales/Revenue/Turnover
- -
20.89%
5.43%
Total Cash Common Dividend
- -
9.87%
0.66%

Quarterly Revenue

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
93
90
91
92
366
2025
98
94
96
98
386
2026
111
115
- -
- -
- -

Quarterly Earnings Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.43
0.42
0.27
- -
1.48
2025
0.41
0.39
0.41
- -
1.6
2026
0.4
0.42
- -
- -
- -

Quarterly Dividends Per Share

FRC

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.18
0.18
0.18
- -
0.71
2025
0.18
0.18
0.18
- -
0.71
2026
0.18
0.18
- -
- -
- -

Company Description

APIChatGPT
CEO
Jay S. Sugarman
Full Time Employees
72
Sector
Real Estate
Industry
REIT - Diversified
Address
1114 Avenue of the Americas New York City NY United States of America 10036
IPO Date
Nov 16, 1989
Business
Safehold Inc. (NYSE: SAFE) operates as a real estate investment trust that provides modern ground lease solutions to owners and developers of high-quality commercial properties, enabling them to unlock the embedded value of land beneath their buildings through long-term leases featuring inflation-linked rent escalations, predictable payments without fair market value resets, and lower-cost capital compared to traditional financing; its core offerings include Modern Ground Lease products targeting transaction sizes of $15 million to $500 million at cap rates of 4.25% to 5.0%, with ground lease coverage of 30% to 45% of property value and 3.0x to 4.5x rent coverage, serving multifamily, office, industrial, hospitality, student housing, life science, retail, senior housing, and mixed-use assets in the top 30 U.S. metropolitan statistical areas. Founded in 2017 and headquartered at 1114 Avenue of the Americas, 39th Floor, New York, New York, the company manages a core portfolio with a gross book value of approximately $7.0 billion, excluding forward commitments, and generates primarily ground lease rental revenue supplemented by origination and management fees. Safehold recently closed six ground leases financing over 400 units of low-income tax credit affordable housing developments in Los Angeles with HVN Development, targeting 2027 completion; closed a ground lease for a 275-unit affordable housing project in the San Fernando Valley with The Pacific Companies, slated for 2029 delivery; acquired an existing ground lease under the Asher Adams hotel in downtown Salt Lake City; created a dedicated Affordable Housing team in 2025 to expand its pipeline using ground leases as low-cost gap financing amid elevated construction costs and interest rates; and maintains ongoing origination activity, including $225 million in new investments as of late 2024 comprising $193 million in ground leases and $32 million in leasehold loans, bringing its aggregate portfolio to $6.8 billion.

Company News

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  • Safehold Closes $225 Million Private Placement of Structured Senior Unsecured Notes Due 2056

  • Safehold Declares Second Quarter 2026 Common Stock Dividend

  • Safehold Announces Joint Venture with Brookfield for Diversified Ground Lease Portfolio

  • Safehold Closes Two Affordable Housing Ground Leases in California

  • Star Holdings Reports First Quarter 2026 Results

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