Safehold Reports Third Quarter 2022 Results
11/01/2022 - 07:30 AM
NEW YORK , Nov. 1, 2022 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE) reported results for the third quarter 2022.
SAFE published a presentation detailing these results which can be found on its website, www.safeholdinc.com in the "Investor Relations" section.
Highlights from the earnings announcement include:
Q3'22 earnings per share were $1.06 , a 182% increase year-over-year Q3'22 revenue was $71.7 million , a 52% increase year-over-year Closed $284 million 1 of new originations in Q3'22, bringing total aggregate portfolio to $6.1 billion Generated a $46.4 million net gain in Q3'22 from the sale of one ground lease UCA grew by an estimated $597 million in Q3'22, bringing total UCA to an estimated $10.5 billion "Safehold reported steady progress during the third quarter with over $280 million of new originations, growing the portfolio to $6.1 billion ," said Jay Sugarman , Chairman and Chief Executive Officer. "The sale of an existing ground lease also helped highlight the potential value embedded in our portfolio and in Caret."
The Company will host an earnings conference call reviewing this presentation beginning at 10:00 a.m. ET . 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:
888.506.0062
International:
973.528.0011
Access Code:
432150
A replay of the call will be archived on the Company's website. Alternatively, the replay can be accessed via dial-in from 2:00 p.m. ET on November 1, 2022 through 12:00 a.m. ET on November 15, 2022 by calling:
Replay:
877.481.4010
International:
919.882.2331
Access Code:
46957
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) and is managed by its largest shareholder, iStar Inc., 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 .
1 Investments in Q3'22 include $29m of new forward commitments that have not yet been funded. Such funding commitments are subject to certain conditions. There can be no assurance that Safehold will complete these transactions.
Company Contact: Jason Fooks Senior Vice President Investor Relations & Marketing T 212.930.9400 E investors@safeholdinc.com
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SOURCE Safehold
SAFE Rankings
#5149 Ranked by Stock Gains
SAFE Stock Data
Industry
Other Financial Vehicles
Sector
Finance and Insurance
Tags
Finance, Real Estate Investment Trusts, Real Estate and Rental and Leasing, Lessors of Other Real Estate Property
Country
US
City
New York
About SAFE
istar (nyse: star) finances, invests in and develops real estate and real estate related assets as an adaptive investment company. building on over two decades of experience and more than $35 billion of transactions, istar brings uncommon capabilities and new ways of thinking to commercial real estate. structured as a real estate investment trust (“reit”), its portfolio is diversified by asset type, property type, geography and obligor, with a focus on larger assets located in major metropolitan markets. additional information on istar is available on the company's website at www.istar.com.