Safehold Inc Stock Price, News & Analysis

Safehold Inc. (NYSE: SAFE) will release its Q1 2022 financial results on April 21, 2022, before the market opens. An earnings conference call will follow at 10:00 a.m. ET, accessible via the company's website. Safehold focuses on modern ground leases, offering land value unlocks for property owners. The company aims to provide safe income growth and long-term capital appreciation for its shareholders, being managed by iStar Inc. Interested parties can access the call through Safehold's investor section.

iStar Inc. (NYSE: STAR) has announced privately negotiated exchange agreements to convert $194 million of its 3.125% Convertible Senior Notes due 2022 into 13.75 million shares of common stock and $14 million in cash. Following this exchange, $93 million of notes will remain, convertible at $13.83 per share. The CEO stated these moves will strengthen the balance sheet, reduce debt, and save on interest expenses as maturity approaches on September 15, 2022.

iStar Inc. (NYSE: STAR) has completed the sale of a portfolio of net lease assets to Carlyle's Global Credit platform for $3.07 billion. This sale, encompassing 18.3 million square feet of properties, aims to simplify iStar's operations and enhance its financial position. The transaction is anticipated to yield a significant positive impact, including $570 million to net income and $1.2 billion in net cash proceeds after costs. Additionally, iStar sold other net lease assets for $108 million, further contributing to its financial growth.

Safehold Inc. (NYSE: SAFE) has announced a common stock dividend of $0.17 per share for Q1 2022, marking an annualized rate of $0.68 per share. The dividend is payable on April 15, 2022 to shareholders on record as of March 31, 2022. This decision reflects the company's commitment to delivering safe and growing income to its shareholders while contributing to long-term capital appreciation. Safehold, a real estate investment trust (REIT), focuses on unlocking land value beneath buildings to provide higher returns with reduced risk.

Safehold Inc. (NYSE: SAFE) announced that its CEO, Jay Sugarman, will participate in a moderated discussion at the 2022 Citi Global Property CEO Conference on March 9, 2022, at 9:45am ET. The event will be broadcast live, and interested parties can access the broadcast and investor presentation through Safehold's website in the "Investors" section. Safehold is a leader in modern ground leases, aimed at maximizing land value for various property types, and is dedicated to delivering safe, growing income to its shareholders.

Safehold (NYSE: SAFE) announced an upsized public offering of 2,000,000 shares at $59.00 per share, totaling $118.0 million in gross proceeds, set to close on March 7, 2022. The offering includes a 30-day option for underwriters to purchase an additional 300,000 shares. Concurrently, the company will privately place 3,240,000 shares with iStar (NYSE: STAR), raising approximately $191.2 million. The total proceeds from both offerings will be around $309.2 million, which will be used to invest in ground leases, repay credit facility borrowings, and for general corporate purposes.

Safehold Inc. (NYSE: SAFE) announced a public offering of 1,750,000 shares of common stock, with an option for underwriters to purchase an additional 262,500 shares. Concurrently, Safehold will sell shares equivalent to 64.93% of the total offering to iStar Inc. (NYSE: STAR) for $185 million. The proceeds will be used for investments in ground leases, repaying credit facility borrowings, and general corporate purposes. This offering is part of an effective shelf registration filed with the SEC.

iStar Inc. (NYSE: STAR) reported Q4 2021 net income of $7.1 million ($0.11/share) and FY 2021 net income of $109.0 million ($1.51/share). Adjusted earnings for Q4 were $68.9 million ($0.87/share) and for FY $244.9 million ($3.12/share). The company achieved $140 million in asset sales, with $34 million in gains in Q4. In addition, iStar repurchased $31 million worth of shares. A definitive agreement to sell net lease assets for $3.07 billion was also signed recently.

iStar Inc. (NYSE: STAR) announced a quarterly dividend of $0.125 per share on its Common Stock and $0.50 on the 8.00% Series D Preferred Stock, $0.478125 on the 7.65% Series G Preferred Stock, and $0.46875 on the 7.50% Series I Preferred Stock. All dividends are payable on March 15, 2022, to shareholders of record by March 1, 2022. iStar is a leader in the ground lease sector, capitalizing on a $7 trillion market, having completed over $40 billion in transactions. This reinforces the company's commitment to shareholder returns while expanding its market footprint.