Latest news with #Safehold
Malaysian Reserve
02-06-2025
- Business
- Malaysian Reserve
Safehold Closes Ground Lease for Florida Multifamily Recapitalization
NEW YORK, June 2, 2025 /PRNewswire/ — Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a ground lease to facilitate the recapitalization of a stabilized, 336-unit multifamily property in the growing Florida Space Coast. The deal is Safehold's 18th in Florida and first with JT Capital, an experienced Texas-based investment management firm. 'We're thrilled to establish a relationship with JT Capital and expand our modern ground lease footprint,' said Tim Doherty, Safehold's Chief Investment Officer. 'We continue to leverage the efficiencies of our structure to help owners access lower-cost, long-term capital.' 'We're proud to deliver a capital structure tailored to JT Capital's strategic goals that showcases our commitment to unlocking value and executing quickly,' added Emily Jones, Vice President at Safehold. Safehold provided a leasehold loan in addition to a long-term ground lease to facilitate the transaction. About Safehold: Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, affordable housing, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Additional information on Safehold is available on its website at Transaction Contacts: IR Contact: Tim Doherty Chief Investment Officer T: 212.930.9433E: tdoherty@ Pearse Hoffmann SVP, Head of Corporate FinanceT: 212.930.9400E: investors@ Emily Jones Vice President, InvestmentsT: 310.315.5580E: ejones@
Yahoo
02-06-2025
- Business
- Yahoo
Safehold Closes Ground Lease for Florida Multifamily Recapitalization
NEW YORK, June 2, 2025 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a ground lease to facilitate the recapitalization of a stabilized, 336-unit multifamily property in the growing Florida Space Coast. The deal is Safehold's 18th in Florida and first with JT Capital, an experienced Texas-based investment management firm. "We're thrilled to establish a relationship with JT Capital and expand our modern ground lease footprint," said Tim Doherty, Safehold's Chief Investment Officer. "We continue to leverage the efficiencies of our structure to help owners access lower-cost, long-term capital." "We're proud to deliver a capital structure tailored to JT Capital's strategic goals that showcases our commitment to unlocking value and executing quickly," added Emily Jones, Vice President at Safehold. Safehold provided a leasehold loan in addition to a long-term ground lease to facilitate the transaction. About Safehold: Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, affordable housing, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Additional information on Safehold is available on its website at Transaction Contacts: IR Contact: Tim Doherty Chief Investment Officer T: 212.930.9433E: tdoherty@ Pearse Hoffmann SVP, Head of Corporate FinanceT: 212.930.9400E: investors@ Emily Jones Vice President, InvestmentsT: 310.315.5580E: ejones@ View original content to download multimedia: SOURCE Safehold Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
24-05-2025
- Business
- Yahoo
Was Jim Cramer Right About Safehold Inc. (SAFE)?
We recently published a list of . In this article, we are going to take a look at where Safehold Inc. (NYSE:SAFE) stands against other stocks that Jim Cramer discusses. Back in 2024, on May 15, a caller inquired about Safehold Inc. (NYSE:SAFE), a REIT known for ultra-long-term ground leases. Cramer passed on the stock due to a lack of transparency: 'Yeah, but I don't really know what's in it. I do not buy. I know that who runs it — the CEO — is very smart. But I'm not sure what's in it, and that bothers me. I don't recommend those stocks 'cause I don't know what's in them.' Cramer's refusal to recommend it was wise, as it dropped 23.20%. A crane on a construction site, building a modern office complex for the REIT. Safehold Inc. (NYSE:SAFE) remains an obscure REIT with minimal transparency into its asset quality and risk profile. Overall, SAFE ranks 6th on our list of stocks that Jim Cramer discusses. While we acknowledge the potential of SAFE as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an AI stock that is more promising than SAFE and that has 100x upside potential, check out our report about this cheapest AI stock. READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires. Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
30-04-2025
- Business
- Yahoo
Safehold Sets First Quarter 2025 Earnings Release Date and Webcast
NEW YORK, April 30, 2025 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE) announced today that it will release its financial results for the first quarter 2025 after the market close on Tuesday, May 6, 2025. The Company will host an earnings conference call reviewing these results and its operations beginning at 9:00 a.m. ET on Wednesday, May 7, 2025. This conference call will be broadcast live and can be accessed by all interested parties through Safehold's website, in the "Investors" section. The dial-in information for the live call is: Dial-in: 888.506.0062 International: 973.528.0011 Access Code: 101208 A replay of the call will be archived on the Company's website. Alternatively, the replay can be accessed via dial-in from 2:00 p.m. ET on Wednesday, May 7, 2025 through 12:00 a.m. ET on May 21, 2025 by calling: Replay: 877.481.4010 International: 919.882.2331 Access Code: 52368 Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Additional information on Safehold is available on its website at Company Contact: Pearse HoffmannSenior Vice PresidentHead of Corporate Finance T 212.930.9400E investors@ View original content to download multimedia: SOURCE Safehold Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
05-02-2025
- Business
- Yahoo
Safehold Reports Fourth Quarter and Fiscal Year 2024 Results
NEW YORK, Feb. 5, 2025 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE) reported results for the fourth quarter and fiscal year ended December 31, 2024. SAFE published a presentation detailing these results which can be found on its website, in the "Investors" section. Highlights from the earnings announcement include: Q4'24 revenue was $91.9 million, and FY'24 was $365.7 million Q4'24 net income attributable to common shareholders was $26.0 million, and FY'24 net income attributable to common shareholders was $105.8 million, or $112.0 million excluding the portion of the year's non-cash general provision for credit losses on prior period balances and adjustments to non-controlling interests1 Q4'24 earnings per share was $0.36, and FY'24 earnings per share was $1.48, or $1.57 excluding the portion of the year's non-cash general provision for credit losses on prior period balances and adjustments to non-controlling interests1 Announcement of a new $50 million share repurchase program authorization 2024 Highlights Include: Investments: $225 million2 of new originations in 2024, including ten new ground leases for $193 million2 and one leasehold loan for $32 million2, bringing total aggregate portfolio to $6.8 billion Credit: Received credit ratings upgrade to A- from Fitch Ratings and received an initial credit rating of BBB+ with a Positive Outlook from S&P Global Ratings Capital: Issued an aggregate $700 million of long-term unsecured notes and closed new $2.0 billion unsecured revolving credit facility The Company's Board of Directors has authorized the repurchase of up to $50 million of the Company's common stock. These repurchases may be made from time to time in the open market, in privately negotiated transactions, or otherwise, including pursuant to a Rule 10b5-1 plan, at prices that the Company deems appropriate and subject to market conditions, applicable law and other factors deemed relevant in the Company's sole discretion. The share repurchase authorization does not obligate the Company to repurchase any dollar amount or number of shares of common stock, and may be suspended or discontinued at any time. "This was an important foundation building year for Safehold," said Jay Sugarman, Chairman and Chief Executive Officer. "We increased earnings and liquidity, received multiple positive credit outcomes including our second 'A' rating, and established a valuable and growing affordable housing vertical. We believe our balance sheet and scale have solidified our position as the market leader in the ground lease sector, and we look forward to putting capital to work to serve our customers and create value for shareholders." The Company will host an earnings conference call reviewing this presentation beginning at 9:00 a.m. ET on Thursday, February 6, 2025. This conference call will be broadcast live and can be accessed by all interested parties through Safehold's website in the "Investors" section, and by using the dial-in information listed below: Dial-In: 888.506.0062 International: 973.528.0011 Access Code: 242780 A replay of the call will be archived on the Company's website. Alternatively, the replay can be accessed via dial-in from 2:00 p.m. ET on February 6, 2025 through 12:00 a.m. ET on February 20, 2025 by calling: Replay: 877.481.4010 International: 919.882.2331 Access Code: 51963 Non-GAAP Financial Measures: Net income attributable to Safehold Inc. common shareholders excluding general provision for credit losses on prior period balances and adjustments to non-controlling interests, and EPS excluding general provision for credit losses on prior period balances and adjustments to non-controlling interests, are non-GAAP measures used as supplemental performance measures to give management and investors a view of net income and EPS more directly derived from operating activities in the period in which they occur. These metrics should be examined in conjunction with net income attributable to common shareholders as shown in our consolidated statements of operations. EPS excluding general provision for credit losses on prior period balances and adjustments to non-controlling interests is calculated as net income attributable to Safehold Inc. common shareholders excluding general provision for credit losses on prior period balances and adjustments to non-controlling interests, divided by the weighted average number of common shares. These metrics should not be considered as alternatives to net income attributable to common shareholders or EPS, respectively (in each case determined in accordance with generally accepted accounting principles in the United States of America ("GAAP")). These measures may differ from similarly-titled measures used by other companies. Reconciliations of these non-GAAP financial measures to their most directly comparable GAAP financial measures are presented below. Earnings Reconciliation (all figures in thousands except per share figures)1 Q4'24 FY'24 Net income (loss) attributable to Safehold Inc. common shareholders $26,039 $105,763 Add: General provision for credit losses on prior period balances - 6,804 Less: Impact of adjustments to non-controlling interests - (576) Net income excluding general provision for credit losses on prior period balances and adjustments to non-controlling interests $26,039 $111,991 Weighted average number of common shares – basic 71,438 71,370 Weighted average number of common shares – diluted 71,561 71,451 EPS excluding general provision for credit losses on prior period balances and adjustments to non-controlling interests (basic & diluted) $0.36 $1.571 All numbers net of impact attributable to noncontrolling interests. About Safehold:Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Additional information on Safehold is available on its website at Company Contact: Pearse HoffmannSenior Vice PresidentCapital Markets & Investor RelationsT 212.930.9400E investors@ 1 The Company enhanced its non-cash general provision for credit losses methodology in Q3'24 and applied the updated methodology to prior period balances in accordance with GAAP. Of the year's $9.8 million total non-cash general provision for credit losses expense, $6.8 million represents the expense related to prior period balances. Impact of adjustments to non-controlling interests was $0.6 million in FY'24. See the Company's Annual Report on Form 10-K for the year ended December 31, 2024, to be filed on or around February 6, 2025, for additional information.2 $193 million ground lease investments includes $45 million of forward commitments that have not yet been funded as of 12/31/24. $32 million leasehold loan was unfunded as of 12/31/24. There can be no assurance that Safehold will fully fund these transactions. View original content to download multimedia: SOURCE Safehold Sign in to access your portfolio
