Safehold Reports First Quarter 2026 Results
Rhea-AI Summary
Safehold (NYSE: SAFE) reported Q1 2026 results on April 30, 2026: revenue $110.9M, net income attributable to common shareholders $28.9M, and EPS $0.40. Closed $68M of new originations and reported non-binding LOIs totalling ~$255M. Estimated Unrealized Capital Appreciation $9.5B. Company noted its first LIHTC closing in Texas and will webcast an earnings call replay through May 14, 2026.
Positive
- Revenue of $110.9M in Q1 2026
- Net income attributable to common shareholders $28.9M
- EPS of $0.40 for Q1 2026
- Closed $68M of new originations in Q1 2026
- Reported non-binding LOIs totaling ~$255M
- Estimated Unrealized Capital Appreciation of $9.5B
Negative
- Non-binding LOIs (~$255M) carry no assurance of closing
- Includes $4M forward commitments not yet funded (subject to conditions)
- LOI amounts assume 100% ownership; final ownership may be lower
News Market Reaction – SAFE
On the day this news was published, SAFE declined 7.24%, reflecting a notable negative market reaction. Argus tracked a trough of -4.5% from its starting point during tracking. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $86M from the company's valuation, bringing the market cap to $1.10B at that time.
Data tracked by StockTitan Argus on the day of publication.
SAFE published a presentation detailing these results which can be found on its website, www.safeholdinc.com in the "Investors" section.
Highlights from the earnings announcement include:
- Q1'26 revenue was
$110.9 million - Q1'26 net income attributable to common shareholders was
$28.9 million - Q1'26 earnings per share was
$0.40 - Closed
$68 million $54 million $14 million - Non-binding LOI's2 totaling ~
$255 million - Estimated Unrealized Capital Appreciation increased to
$9.5 billion
"Safehold delivered a solid quarter of investment activity and UCA growth, highlighted by our first LIHTC closing in
The Company will host an earnings conference call reviewing this presentation beginning at 5:00 p.m. ET on Thursday, April 30, 2026. This conference call will be broadcast live and can be accessed by all interested parties through Safehold's website and by using the dial in information listed below:
Dial-In: | 877.545.0523 |
International: | 973.528.0016 |
Access Code: | 915210 |
A replay of the call will be archived on the Company's website. Alternatively, the replay can be accessed via dial-in from 8:00 p.m. ET on April 30, 2026, through 12:00 a.m. ET on May 14, 2026, by calling:
Replay: | 877.481.4010 |
International: | 919.882.2331 |
Access Code: | 53936 |
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 www.safeholdinc.com.
Company Contact:
Pearse Hoffmann
Senior Vice President
Head of Corporate Finance
T 212.930.9400
E investors@safeholdinc.com
1 Includes Safehold's
2 Includes non-binding LOIs for investments that closed subsequent to quarter end. Non-binding LOIs assume
3 For more information on UCA, including additional limitations and qualifications, please refer to our Current Report on Form 8-K filed with the SEC on April 30, 2026, and the "Risk Factors" section of our Annual Report on Form 10-K for the year ended December 31, 2025, filed with the SEC on February 12, 2026.
View original content to download multimedia:https://www.prnewswire.com/news-releases/safehold-reports-first-quarter-2026-results-302759326.html
SOURCE Safehold
FAQ
What were Safehold (SAFE) Q1 2026 revenue and EPS?
Direct answer: Safehold reported Q1 2026 revenue of $110.9M and EPS of $0.40.
Context: According to the company, net income attributable to common shareholders was $28.9M for the quarter, with details in the investor presentation on the company website.
How much new originations did Safehold (SAFE) close in Q1 2026?
Direct answer: Safehold closed $68M of new originations in Q1 2026.
Context: That total includes three ground leases for $54M and one leasehold loan for $14M, per the company announcement.
What does Safehold's reported $9.5B Unrealized Capital Appreciation mean for SAFE?
Direct answer: The company reported estimated Unrealized Capital Appreciation of $9.5B.
Context: According to the company, UCA is an estimate with limitations; refer to the company filings for methodology and risk-factor details.
What is the status of Safehold (SAFE) LOIs mentioned in Q1 2026 results?
Direct answer: Safehold reported non-binding LOIs totaling about $255M as of Q1 2026.
Context: According to the company, LOIs are non-binding, may assume 100% ownership, and there is no assurance transactions will close.
When can investors access Safehold's Q1 2026 earnings call replay for SAFE?
Direct answer: The earnings call replay is available from April 30, 2026 at 8:00 p.m. ET through May 14, 2026.
Context: According to the company, the replay is archived on the investor website and accessible by dial-in during the listed period.
Did Safehold (SAFE) report any notable transactions in Q1 2026?
Direct answer: Yes; Safehold completed its first LIHTC closing in Texas during Q1 2026.
Context: According to the company, management highlighted this as part of quarter activity while also reporting new originations and LOIs that expand the pipeline.