Safehold Inc.

Safehold Inc.

SAFE
Safehold Inc.US flagNew York Stock Exchange
15.18
USD
+0.30
- -
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
5.56
Basic EPS, GAAP
0.29
0.36
- -
0.64
0.89
1.17
1.32
2.17
-0.82
1.48
1.6
1.59
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
0.42
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
- -
- -
- -
-0.46
-0.05
0.48
1.08
2.43
0.72
1.45
2.32
2.54
Tangible Book Value per Share
7.91
6.67
- -
5.21
27.43
22.47
26.44
31.2
31.26
30.34
31.19
31.47
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
399
Operating Margin (%)
69.73
68.33
- -
56.95
71.64
77.71
78.09
81.01
76.53
78.51
80.75
78.54
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
114
Effective Tax Rate (%)
- -
- -
- -
- -
- -
- -
- -
- -
- -
3.13
2.49
2.34
Profit Margin (%)
28.81
30.42
- -
23.61
29.65
38.15
39.1
50.1
-15.59
28.92
29.69
28.58
Working Capital
6
10
171
40
485
734
905
1,496
1,872
2,063
2,300
2,373
LT Debt
- -
- -
307
544
1,379
1,690
2,703
3,527
3,970
4,228
4,492
4,602
Total Equity
144
154
356
357
1,093
1,381
1,685
2,165
2,296
2,374
2,440
2,461
Return on Invested Capital (%)
- -
9.97
- -
3.62
3.97
4.36
3.92
4.34
- -
4.32
4.49
4.47
Return on Capital (%)
- -
- -
- -
6.45
5.38
7.98
6.81
7.89
- -
7.03
6.98
6.91
Return on Common Equity (%)
- -
- -
- -
- -
- -
- -
173.25
127.89
-54.93
139.64
84.91
75.41

Capital Structure

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
- -
- -
- -
LT Borrowings
4,414
4,486
4,597
LT Finance Leases
7
6
6
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
72
72
72
Market Capitalization
1,110
981
971

Working Capital

FRC

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
2,376
2,436
2,506
Cash, Cash Equivalents & STI
15
24
20
Accounts Receivable, Net
234
241
249
Inventories
- -
- -
- -
Total Current Liabilities
126
136
133
Payables & Accruals
126
136
133
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
- -
- -
- -
- -

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
- -
- -
- -
- -

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
- -
- -
- -
- -

Company Description

APIChat
CEO
Jay S. Sugarman
Full Time Employees
74
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

APIChat
  • Safehold Closes Two Affordable Housing Ground Leases in California

  • Star Holdings Reports First Quarter 2026 Results

  • Safehold: Return-Free-Risk Comes To Haunt Investors

  • Redwood AI Approved to Receive National Research Council of Canada Funding for its Q-SAFE Chemical Screening Project for Defence and Security Applications

  • Safehold Inc. (SAFE) Q1 2026 Earnings Call Transcript

  • Safehold (SAFE) Q1 Earnings: How Key Metrics Compare to Wall Street Estimates

  • Safehold Reports First Quarter 2026 Results

  • Pick These 5 Bargain Stocks With Exciting EV-to-EBITDA Ratios

  • Safehold Sets First Quarter 2026 Earnings Release Date and Webcast

  • SAFE vs. IRT: Which Stock Should Value Investors Buy Now?

  • REIT Replay: U.S. REIT Indexes Continue To Climb During Week Ended April 10

  • Wall Street Analysts Think Safehold (SAFE) Could Surge 34.55%: Read This Before Placing a Bet

  • SAFE or IRT: Which Is the Better Value Stock Right Now?

  • Head to Head Survey: Safehold (NYSE:SAFE) vs. Apartment Investment and Management (NYSE:AIV)

  • SAFE or ESS: Which Is the Better Value Stock Right Now?

  • The #1 Reason To Invest In REITs Today

  • Safehold Declares First Quarter 2026 Common Stock Dividend

  • Safehold Closes 20th Affordable Housing Ground Lease, First in Texas

  • Recent Safehold Multifamily Closing Profiled in The Boston Globe

  • Medline Awards Distribution Center of the Year and SAFE Awards