NEW
YORK, July 29, 2024 /PRNewswire/ -- Safehold
Inc. (NYSE: SAFE) reported results for the second quarter 2024.
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:
- Q2'24 revenue was $89.9 million,
up 5% year-over-year
- Q2'24 net income attributable to common shareholders was
$29.7 million, up 34%
year-over-year
- Q2'24 earnings per share was $0.42, up 20% year-over-year
- Closed six new ground leases for $98
million1 during the quarter, bringing the total
aggregate portfolio to 143 ground leases and $6.5 billion
- Closed new $2.0 billion unsecured
revolving credit facility, replacing previous $1.85 billion aggregate facilities and lowering
facility cost
- Established $750 million
unsecured commercial paper note program
"We are pleased to see transaction activity picking up and the
successful conversion of LOIs to closings," said Jay Sugarman, Chairman and Chief Executive
Officer. "Safehold is well positioned to continue pursuing
opportunities and delivering value to our customers."
The Company will host an earnings conference call reviewing this
presentation beginning at 9:00 a.m. ET on
Tuesday, July 30, 2024. 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:
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Dial-In:
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888.506.0062
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International:
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973.528.0011
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Access Code:
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171484
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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 July 30, 2024 through 12:00 a.m. ET on August
13, 2024 by calling:
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Replay:
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877.481.4010
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International:
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919.882.2331
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Access Code:
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50921
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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
Capital Markets & Investor Relations
T 212.930.9400
E investors@safeholdinc.com
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1
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Gross of joint venture
partner's commitment of $39 million with respect to five of the new
ground leases. Investments in Q2'24 include $40m 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.
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SOURCE Safehold