Safehold Inc Stock Price, News & Analysis

iStar Inc. (NYSE: STAR) reported first-quarter results for 2021, indicating a net loss of $0.4 million or $0.01 per diluted share. Adjusted earnings stood at $22.7 million, equating to $0.30 per diluted share. The company realized $56 million from legacy asset sales, achieving a 6% reduction in its legacy asset portfolio. iStar's Safehold position reflects a market value of $2.4 billion with 34.8 million shares. CEO Jay Sugarman expressed satisfaction with the progress in scaling and maintaining a robust balance sheet, emphasizing their strategic focus for the year.

Safehold has priced a public offering of $400 million of 2.800% senior notes due in 2031. The notes were priced at 99.127% of principal and will mature on June 15, 2031. The offering is expected to settle on May 7, 2021. Proceeds will be used to repay borrowings under an unsecured credit facility and for general corporate purposes, including investments in ground leases. J.P. Morgan, Goldman Sachs, and BofA Securities are among the underwriters. The offering is made under an effective shelf registration statement.

Safehold Inc. (NYSE: SAFE) announced its first-quarter 2021 results, reporting revenue of $43.5 million and a net income of $16.9 million. The company achieved an earnings per share of $0.32. Safehold also completed $166 million in new ground lease investments with an effective yield of 5.3%, along with securing a $1.0 billion recast unsecured revolving credit facility. With $770 million in cash and credit availability, Safehold is positioned for growth and expansion in the ground lease market.

Safehold Inc. (NYSE: SAFE) will release its financial results for Q1 2021 on April 22, 2021, before market open. A conference call will follow at 10:00 a.m. ET to discuss the results and operations, accessible via the company's website. Safehold innovates real estate ownership by enhancing land value for property owners. The firm, operating as a REIT, aims to provide safe income and long-term capital appreciation to shareholders, leveraging its expertise in the ground lease industry created in 2017.

iStar Inc. (NYSE: STAR) will release its Q1 2021 financial results on April 29, 2021, before market opening. A live conference call to discuss these results will take place at 10:00 a.m. ET, accessible via iStar's website. The call will provide insights into iStar's operations and its role in the $7 trillion institutional commercial real estate market. iStar is the largest shareholder of Safehold Inc. (NYSE: SAFE), focusing on modern ground leases to unlock value for real estate owners. Past transactions exceed $40 billion over two decades.

Safehold Inc. (NYSE: SAFE) has upgraded its credit facility, replacing a $600 million secured revolving credit with a new $1.0 billion unsecured revolving credit facility. This change results in a 30 basis point reduction in interest rates, now set at LIBOR plus 100 basis points. The facility matures in March 2024 and includes two extension options. CEO Jay Sugarman highlighted the move as a significant step in enhancing financial flexibility and accessing lower-cost capital.

Safehold Inc. (NYSE: SAFE) announced that Jeremy Fox-Geen, CFO, will present at the Sidoti Spring 2021 Investor Conference on March 25, 2021, at 9:15 AM ET. The presentation will be broadcast live, and interested parties can access the link and investor presentation via Safehold's website under the 'Investors' section.

Safehold is transforming real estate ownership by optimizing land value for multifamily, office, and mixed-use properties, aiming to provide safe income and long-term capital appreciation for shareholders.

Safehold Inc. (NYSE: SAFE) has announced a common stock dividend of $0.16224 per share for the first quarter of 2021, translating to an annualized rate of $0.64896 per share. The dividend is set to be paid on April 15, 2021, to shareholders on record as of March 31, 2021. Safehold is pioneering a new approach to real estate ownership, focusing on ground leases to enhance returns while reducing risk. As a REIT, the company aims to deliver stable income and long-term capital growth to its investors.

Safehold Inc. (NYSE: SAFE) announced that Chairman and CEO Jay Sugarman will take part in a moderated discussion at the 2021 Citi Global Property CEO Conference on March 11, 2021, at 9:00 AM ET. The discussion will be accessible via live broadcast, with a link available on Safehold's website in the ‘Investors’ section.

Safehold is transforming real estate ownership by creating a modern ground lease industry, allowing property owners to enhance returns and reduce risks across various property sectors.