Safehold Inc Stock Price, News & Analysis

Safehold and iStar have announced a strategic agreement for a tax-free business combination aimed at enhancing Safehold's leadership in the ground lease industry. The deal includes the internalization of management, allowing Safehold to transition to an internally-managed structure, and involves assuming $100 million in iStar's trust preferred securities. New Safehold will retain existing ownership proportions, with Safehold shareholders owning approximately 34% post-transaction. iStar will spin off non-ground lease assets into a new entity, SpinCo, while MSD Partners will invest $200 million in SAFE shares and $20 million in Caret units.

iStar Inc. (NYSE: STAR) reported a net loss of $138.5 million for Q2 2022, equating to $1.70 per diluted share. Adjusted earnings also fell to a loss of $34.2 million or $0.42 per diluted share. The company exchanged $194 million in convertible notes for approximately 13.75 million shares and $14 million in cash, resulting in a $298 million increase in book equity. Additionally, Safehold closed $381 million in new originations, increasing its total portfolio to $5.9 billion. iStar aims to enhance shareholder value through strategic initiatives.

Safehold Inc. (NYSE: SAFE) announced strong financial results for Q2 2022, with earnings per share rising by 32% year-over-year to $0.37 and revenue increasing 47% to $64.9 million. The company closed new originations of $381 million, boosting its total portfolio to $5.9 billion. Safehold's portfolio generates an annualized in-place cash rent of $178 million, showing a yield of 5.1% and an inflation-adjusted yield of 5.6%. With $930 million in available liquidity, Safehold is well-positioned for future growth in ground lease opportunities.

Safehold Inc. (NYSE: SAFE) will release its second-quarter 2022 financial results on August 3, 2022, before market open. The company will hold a live earnings conference call at 10:00 a.m. ET to discuss the results, which can be accessed via its website. Safehold, a leader in the modern ground lease industry, aims to improve real estate ownership by maximizing land value while providing safe, growing income and long-term capital appreciation to shareholders. For further details, visit www.safeholdinc.com.

Safehold Inc. (NYSE: SAFE) has successfully closed a $62.5 million ground lease for the acquisition of Soleste Grand Central, a 360-unit multifamily property in Miami, Florida. Completed in 2021, this transaction marks the sixth partnership transaction between Safehold and Avanti Residential over the past two years, totaling over 1,600 units in Florida and Colorado. Safehold aims to generate higher returns with less risk through modern ground leases, seeking to provide growing income and capital appreciation to shareholders.

Safehold Inc. (NYSE: SAFE) has declared a common stock dividend of $0.177 per share for Q2 2022, marking an annualized rate of $0.708. This dividend will be paid on July 15, 2022, to shareholders on record as of June 30, 2022. Safehold, a leader in modern ground leases, aims to enhance the value of real estate ownership while providing stable income and long-term capital appreciation for investors. The company operates as a real estate investment trust (REIT) and is managed by iStar Inc.

iStar Inc. (NYSE: STAR) revised the conversion rate for its 3.125% Convertible Senior Notes due 2022, following the announcement of cash dividends on June 15, 2022. The new conversion price is $13.73 per share, effective May 31, 2022, allowing 72.8554 shares of common stock per $1,000 principal amount. This adjustment will be communicated to note holders and the trustee. iStar focuses on modernizing ground leases and holds a significant stake in Safehold Inc. (NYSE: SAFE), aiming to innovate within the $7 trillion commercial real estate market.

Safehold Inc. (NYSE: SAFE) announced a definitive note purchase and private shelf agreement for a private placement of $150 million in 5.15% senior unsecured notes due May 13, 2052. The notes feature a stairstep coupon rate starting at 2.50% for the first decade and rising to 5.15% in years 21-30. The financing includes a treasury lock agreement, resulting in a net yield of 4.92%. Proceeds will repay borrowings and support general corporate activities, including potential investments in ground leases.

iStar Inc. (NYSE: STAR) announced a quarterly dividend of $0.125 per share on its Common Stock, payable on June 15, 2022 to holders of record by June 1, 2022. Additionally, dividends on its Preferred Stock were declared, including $0.50 for the 8.00% Series D, $0.478125 for the 7.65% Series G, and $0.46875 for the 7.50% Series I, all payable on the same date. iStar focuses on modernizing ground leases and has conducted over $40 billion in transactions in the last two decades, underpinning its strategy in the $7 trillion commercial real estate market.