Safehold Reports Third Quarter 2025 Results

Rhea-AI Summary

Safehold (NYSE: SAFE) reported third quarter 2025 results on November 5, 2025: Q3 revenue $96.2 million, net income attributable to common shareholders $29.3 million, and EPS $0.41. The company closed $42 million of ground lease originations in Q3'25 and has closed $34 million of originations year-to-date in Q4'25, which includes $9M and $29M of forward commitments for Q3 and Q4 respectively that are subject to funding conditions. Management will host an earnings call on Nov 5, 2025 at 5:00 p.m. ET; a replay is available through Nov 19, 2025.

The presentation and replay are available on Safehold's investor website.

Positive

• Q3 revenue of $96.2 million
• Q3 net income of $29.3 million
• Q3 EPS of $0.41
• $42 million of ground lease originations closed in Q3'25 and $34 million closed Q4-to-date

Negative

• Forward commitments of $9M (Q3) and $29M (Q4) are subject to funding conditions and may not be funded

Insights

Capital Markets Analyst

Safehold reported profitable Q3 with meaningful originations and disclosed forward funding commitments to monitor.

Safehold delivered third quarter results showing $96.2 million of revenue, $29.3 million net income attributable to common shareholders and $0.41 earnings per share for Q3'25. The company also closed $42 million of ground lease originations in the quarter and noted $34 million in originations to date in Q4'25, with $9 million and $29 million of those shown as forward commitments that are not yet funded.

The business mechanism is straightforward: originate and fund long‑dated ground leases and earn recurring income while realizing capital appreciation within a REIT structure. Key dependencies include the company actually funding its forward commitments and the performance of newly originated ground leases; the release explicitly states these forward commitments "are subject to certain conditions" and "there can be no assurance" they will be fully funded, which is a material conditional item to watch.

Concrete items to monitor over the near term are whether the flagged forward commitments convert to funded transactions, any disclosure on funding conditions and the company’s commentary on earnings drivers during the Nov 5, 2025 conference call and replay window through Nov 19, 2025. These items will clarify how durable the reported earnings and recent originations are for the next quarter.

NEW YORK, Nov. 5, 2025 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE) reported results for the third quarter 2025.

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:

• Q3'25 revenue was $96.2 million
• Q3'25 net income attributable to common shareholders was $29.3 million
• Q3'25 earnings per share was $0.41
• Closed $42 million of ground lease originations in Q3'25¹ and closed $34 million of ground lease originations to date in Q4'25¹

"Safehold delivered a solid quarter, highlighted by earnings growth and steady transaction activity," said Jay Sugarman, Chairman and Chief Executive Officer. "We're pleased to see our repeat customer business growing consistently, and we remain focused on delivering efficient capital for customers and favorable risk-adjusted returns for shareholders."

The Company will host an earnings conference call reviewing this presentation beginning at 5:00 p.m. ET on Wednesday, November 5, 2025. 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:	946297

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 November 5, 2025 through 12:00 a.m. ET on November 19, 2025 by calling:

Replay:	877.481.4010
International:	919.882.2331
Access Code:	53142

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

¹Includes Safehold's $9m and $29m forward commitments for the Ground Leases new originations in Q3'25 and Q4'25 quarter-to-date, respectively, that have not yet been funded (such funding commitments are subject to certain conditions). There can be no assurance Safehold will fully fund these transactions.

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SOURCE Safehold

FAQ

What were Safehold's reported Q3 2025 revenue and EPS (SAFE)?

Safehold reported Q3'25 revenue $96.2M and EPS $0.41.

How much net income did Safehold (SAFE) report for Q3 2025?

Safehold reported Q3'25 net income attributable to common shareholders of $29.3M.

How many ground lease originations did Safehold (SAFE) close in Q3 2025 and Q4-to-date?

Safehold closed $42M of originations in Q3'25 and $34M of originations Q4-to-date (includes forward commitments).

What is the status of Safehold's forward commitments included in the origination totals (SAFE)?

The totals include forward commitments of $9M (Q3) and $29M (Q4) that are subject to funding conditions and not guaranteed.

When is Safehold's Q3 2025 earnings call and how can investors listen (SAFE)?

The earnings call is on Nov 5, 2025 at 5:00 p.m. ET and is broadcast live on Safehold's investor website; a replay is archived through Nov 19, 2025.

Where can I find Safehold's Q3 2025 presentation and replay (SAFE)?

The presentation and call replay are available in the Investors section of Safehold's website at www.safeholdinc.com.