Safehold Inc Stock Price, News & Analysis

Safehold Inc. (NYSE: SAFE) announced the tax treatment of its 2024 common stock dividends. The dividends, each amounting to $0.1770 per share, are distributed as follows:

• Record Date: 12/29/23, Payment Date: 1/16/24
• Record Date: 3/28/24, Payment Date: 4/15/24
• Record Date: 6/28/24, Payment Date: 7/15/24
• Record Date: 9/30/24, Payment Date: 10/15/24

Each dividend consists of $0.008487 as ordinary taxable dividend, which is also classified as a qualified dividend, and $0.168513 as return of capital (non-dividend distribution).

Safehold is a real estate investment trust (REIT) that aims to provide safe, growing income and long-term capital appreciation to its shareholders. The company focuses on high-quality multifamily, office, industrial, hospitality, student housing, life science, and mixed-use properties.

Safehold Inc. (NYSE: SAFE) has closed a ground lease for the development of The Crawford, a 265-unit affordable housing community in Roseville, Sacramento, California. The project will be developed by USA Properties Fund, a repeat Safehold customer based in Sacramento.

The development is structured as a low-income tax credit project. During 2024, Safehold completed six affordable housing transactions in California. The company is increasingly focusing on the affordable housing sector, utilizing its ground lease structure to help developers reduce capital costs and advance affordable housing projects.

Safehold, established in 2017, operates as a REIT and specializes in creating modern ground lease solutions for various property types, including multifamily, office, industrial, hospitality, student housing, life science, and mixed-use properties.

Safehold Inc. (NYSE: SAFE) has received a credit rating upgrade to A- from BBB+ from Fitch Ratings, with a stable outlook. The upgrade extends to the company's operating subsidiary, Safehold GL Holdings Fitch's decision reflects SAFE's focus on low-risk ground lease assets, increased use of unsecured debt, improved portfolio diversity, strong asset quality, low leverage, solid dividend coverage, and experienced management.

The company's CFO, Brett Asnas, highlighted that having 'A' ratings from two major agencies will improve cost and access to capital, benefiting both shareholders and customers. Safehold, established in 2017, specializes in modern ground lease solutions for various property types including multifamily, office, industrial, hospitality, student housing, life science, and mixed-use properties.

Safehold Inc. (NYSE: SAFE) has announced its fourth quarter 2024 common stock dividend of $0.177 per share, representing an annualized rate of $0.708 per share. The dividend will be paid on January 15, 2025, to shareholders of record as of December 30, 2024.

Safehold, established in 2017, operates as a real estate investment trust (REIT) focused on revolutionizing real estate ownership through modern ground lease solutions. The company helps property owners of various asset types, including multifamily, office, industrial, hospitality, student housing, life science, and mixed-use properties, achieve higher returns with reduced risk.

Safehold (NYSE: SAFE) announced that its operating company, Safehold GL Holdings , has priced a $400 million public offering of 5.650% senior notes due 2035. The notes, priced at 98.812% of principal amount, will yield 5.804% semi-annually at maturity. Following a hedge termination with a $22 million cash settlement gain, the effective semi-annual yield is expected to be approximately 5.09%. The proceeds will be used for general corporate purposes, including repaying revolver borrowings, investing in ground leases, and funding existing commitments. The offering is expected to settle on November 14, 2024.

Safehold (NYSE: SAFE) announced that S&P Global Ratings has assigned it an initial credit rating of BBB+ with a positive outlook. This rating also applies to its subsidiary, Safehold GL Holdings According to CFO Brett Asnas, this rating reflects Safehold's strong asset quality, stable funding strategy, and market-leading position. S&P's report highlighted Safehold's focus on high-quality, long-term ground leases with predictable, contractually growing cash flows over 99 years, low leverage, and diversified funding. This rating is expected to improve Safehold's cost of capital and access to capital, aiding in long-term value creation for shareholders.

Star Holdings (NASDAQ: STHO) reported Q3 2024 results with net income of $91.9 million and earnings per share of $6.90. The results include a non-cash adjustment of $93.8 million related to their investment in 13.5 million SAFE shares, which increased EPS by $7.05. The company generated $6.1 million in land revenues from selling 31 lots at Magnolia Green and recorded $3.7 million in real estate income from final condominium closings at Asbury Ocean Club.

Safehold Inc. (NYSE: SAFE) reported its Q3 2024 results with revenue of $90.7 million and net income of $19.3 million. The company achieved earnings per share of $0.27, or $0.37 excluding non-cash credit loss provisions. During the quarter, Safehold closed $104 million in new originations, including three ground leases for $72 million and one leasehold loan for $32 million. The company also purchased its joint venture partner's ownership interest in all ground leases for a total commitment of $69 million, aiming to grow earnings and diversify its portfolio despite ongoing rate volatility in the real estate market.

Safehold Inc. (NYSE: SAFE) has announced the release date for its third quarter 2024 financial results. The company will disclose its results after the market close on Monday, October 28, 2024. Following this, Safehold will host an earnings conference call on Tuesday, October 29, 2024, at 9:00 a.m. ET to review the results and discuss operations.

Interested parties can access the live broadcast through Safehold's website. For those unable to attend, a replay will be available via dial-in from October 29, 2024, to November 12, 2024. Safehold, a real estate investment trust (REIT), is known for revolutionizing real estate ownership by providing innovative ground lease solutions for high-quality properties across various sectors.