Core Insights - Safehold (SAFE) reported revenue of $91.87 million for Q4 2024, a year-over-year decline of 10.8% [1] - The EPS for the same period was $0.36, unchanged from the previous year [1] - Revenue fell short of the Zacks Consensus Estimate of $92.22 million, resulting in a surprise of -0.38% [1] - The company did not deliver an EPS surprise, with the consensus estimate also being $0.36 [1] Financial Performance Metrics - Operating lease income was $16.72 million, slightly above the average estimate of $16.69 million, representing a year-over-year change of -1.2% [4] - Other income was reported at $4.10 million, below the average estimate of $4.69 million, showing a significant year-over-year decline of 81.9% [4] - Interest income from sales-type leases was $68.68 million, exceeding the estimated $68.29 million, with a year-over-year increase of 12.3% [4] - Interest income from related parties was $2.38 million, slightly below the estimate of $2.39 million [4] - Net income per share (diluted) was $0.36, matching the average estimate from six analysts [4] Stock Performance - Safehold's shares have returned -2.4% over the past month, contrasting with the Zacks S&P 500 composite's +1.7% change [3] - The stock currently holds a Zacks Rank 3 (Hold), indicating potential performance in line with the broader market in the near term [3]

Financial Performance - Q4'24 revenues decreased by 11% year-over-year to $91.9 million, while FY'24 revenues increased by 4% to $365.7 million[6]. - GAAP net income attributable to Safehold Inc. common shareholders for Q4'24 was $26.0 million, a 37% decrease year-over-year, but increased over 100% for FY'24 to $105.8 million[6]. - Total revenues for Q4 2024 were $91.872 million, a decrease of 10.5% compared to $103.027 million in Q4 2023[21]. - Net income attributable to Safehold Inc. common shareholders for Q4 2024 was $26.039 million, down 36.8% from $41.184 million in Q4 2023[26]. - Earnings per share (basic and diluted) for the year ended December 31, 2024, were $1.48, compared to a loss of $0.82 in 2023[21]. Debt and Financing - The company issued $400 million and $300 million in 10-year unsecured notes with a weighted average coupon of 5.84% and a yield to maturity of 5.19%[3]. - The company has a remaining capacity of $1.3 billion on its unsecured revolver, with total debt overview at $4.6 billion[17]. - Total debt as of December 31, 2024, was $4.64 billion, with a debt-to-equity ratio of 1.96x[21]. - The effective interest rate on debt was 4.2% for the year ended December 31, 2024[20]. Asset and Portfolio Overview - Total portfolio gross book value (GBV) reached $6.7 billion, with an estimated unrealized capital appreciation of $9.1 billion[5]. - Total assets as of December 31, 2024, were $6.899 billion, an increase from $6.548 billion in 2023[23]. - The company’s total equity increased to $2.374 billion as of December 31, 2024, compared to $2.277 billion in 2023[23]. - The multifamily asset count increased to 85, representing 58% of the total asset count of 147[5]. Ground Lease Operations - The company funded $225 million in new originations during FY'24, including ten new ground leases for $193 million[5]. - Economic yield for new ground leases was reported at 7.3%, while existing ground leases had an economic yield of 6.5%[5]. - The company had 122,500 Caret units outstanding as of December 31, 2024, representing 84.0% of the total authorized Caret units[36]. - The company recognizes $6.7 million of interest income from sales-type leases from the Ground Lease in its consolidated statements of operations for the year ended December 31, 2024[40]. Market and Economic Conditions - The company faces risks related to changes in tax laws, regulations, and general economic conditions that could impact future performance[42]. - Market demand for ground lease capital is a critical factor influencing the company's investment strategy[42]. - The company estimates that ground rent coverage may be lower than projected due to limitations in the information used for estimates[42]. - The company is monitoring geopolitical tensions, including the war in Ukraine and conflicts in Israel, which may affect financial conditions and operating performance[42]. Mergers and Acquisitions - Safehold Inc. entered into a merger agreement with iStar Inc. on November 10, 2022, and completed the merger on March 31, 2023[43]. - The historical financial statements of Old Safehold became the historical financial statements of Safehold Inc. post-merger[43]. - The merger is expected to enhance the company's operational capabilities and market position in the ground lease sector[43]. Ratings and Outlook - The company received a credit rating upgrade from Fitch from BBB+ to A- with a stable outlook[3]. - The company’s inflation-adjusted yield assumes a long-term inflation target of 2.0% annually for the duration of the leases[38]. - Safehold's valuation assessments occur every 12 to 24 months, which may not accurately capture current market conditions[42]. - The company emphasizes that modeling and information presented are for illustrative purposes only and do not guarantee future performance[42].

Core Insights - Safehold Inc. reported strong financial results for Q4 and FY 2024, highlighting increased earnings and liquidity, along with a new share repurchase program authorization of up to $50 million [1][6]. Financial Performance - Q4 2024 revenue was $91.9 million, while FY 2024 revenue totaled $365.7 million [6]. - Net income attributable to common shareholders for Q4 2024 was $26.0 million, and for FY 2024 it was $105.8 million, or $112.0 million when excluding non-cash general provision for credit losses [6]. - Earnings per share (EPS) for Q4 2024 was $0.36, and for FY 2024 it was $1.48, or $1.57 when excluding non-cash general provision for credit losses [6]. Strategic Developments - The company emphasized its position as a market leader in the ground lease sector, with a focus on creating value for shareholders and serving customers [2]. - In 2024, Safehold made $225 million in new originations, including ten new ground leases for $193 million and one leasehold loan for $32 million, bringing the total portfolio to $6.8 billion [6][7]. - The company received credit rating upgrades, achieving an A- rating from Fitch Ratings and a BBB+ rating with a Positive Outlook from S&P Global Ratings [6]. Shareholder Returns - The Board of Directors authorized a share repurchase program of up to $50 million, allowing for repurchases in the open market or through negotiated transactions [1][6].

Core Points - The Vincent Country Safe Zone Activity Day, co-founded by NFL Executive Troy Vincent, Sr. and his wife Tommi A. Vincent, aims to provide a safe environment for students from under-resourced areas during Super Bowl week [1][2] - This year's event included over 600 students from Fifth Ward Elementary School and Garyville/Mt. Airy Math and Science Magnet School, featuring fun, food, wellness activities, and interactive sports [1][2] - Cigna Healthcare, a lead sponsor, provided health screenings, free eye exams, and wellness activities, contributing to the overall health and vitality of the participating students and families [2][3] Event Details - The event has positively impacted over 3,400 students and 400 educators over the past eight years, with contributions exceeding $575,000 in funds and resources [2] - New partners, including Stand Together and Chick-fil-A, joined this year to enhance the event's impact [2][6] - The theme for this year's event was "The Road to Success!" and included the unveiling of a mural by local artist Vitus Shell [3][4] Community Engagement - Infinite Athlete donated a new playground set to the school, enhancing student activity and community engagement [4] - Chick-fil-A provided boxed lunches to children and volunteers, emphasizing their commitment to community support [8] - Stand Together donated Chromebooks and provided access to educational resources, further supporting the schools' needs [6][7] Notable Participants - The event featured participation from NFL players, Hall of Famers, and local volunteers, enhancing the experience for students [8] - Dr. Kara Lawson, Principal at Garyville/Mt. Airy Math and Science Magnet School, expressed gratitude for the event and its positive impact on students [5] Future Initiatives - A virtual fundraising component is ongoing to raise additional funds and resources for the school, with results to be announced later [10] - The Vincents will host a signature luncheon to celebrate school leadership and thank corporate sponsors [9]

Group 1 - Conservative Income Portfolio targets high-value stocks with significant margins of safety and utilizes well-priced options to reduce volatility [1] - Enhanced Equity Income Solutions Portfolio aims to generate yields of 7-9% while minimizing volatility [1] - Safehold Inc. (NYSE: SAFE) has been a notable investment with satisfying returns, and the Covered Calls Portfolio focuses on lower volatility income investing and capital preservation [2][3] Group 2 - Trapping Value consists of a team of analysts with over 40 years of combined experience in generating options income and capital preservation [3] - The investing group operates Conservative Income Portfolio in collaboration with Preferred Stock Trader, featuring two income-generating portfolios and a bond ladder [3]

Core Viewpoint - Safehold Inc. will release its financial results for Q4 and fiscal year 2024 on February 5, 2025, after market close [1] - The company aims to revolutionize real estate ownership through modern ground leases, providing a new way for property owners to unlock land value [2] Financial Results Announcement - Safehold Inc. will announce its financial results for Q4 and fiscal year 2024 on February 5, 2025 [1] - An earnings conference call will take place on February 6, 2025, at 9:00 a.m. ET to review these results [2] Conference Call Details - The conference call will be accessible via Safehold's website and will include dial-in options for participants [2] - A replay of the call will be available from February 6, 2025, at 2:00 p.m. ET until February 20, 2025, at 12:00 a.m. ET [2] Company Overview - Safehold Inc. is a real estate investment trust (REIT) that focuses on high-quality multifamily, office, industrial, hospitality, student housing, life science, and mixed-use properties [2] - The company aims to deliver safe, growing income and long-term capital appreciation to its shareholders [2]

Group 1 - Safehold Inc. announced the tax treatment of its 2024 common stock dividends, with a quarterly dividend of $0.1770 per share [1] - The ordinary dividend of $0.008487 per quarter is classified as a qualified dividend, with the majority of the distribution being a return of capital [1] - The company has established itself in the modern ground lease industry since 2017, focusing on high-quality real estate properties [2] Group 2 - Safehold operates as a real estate investment trust (REIT), aiming to provide safe, growing income and long-term capital appreciation to its shareholders [2] - The company supports owners of various property types, including multifamily, office, industrial, hospitality, and mixed-use properties, to generate higher returns with less risk [2] - Additional information about Safehold can be found on its official website [2]

NEW YORK, Jan. 15, 2025 /PRNewswire/ -- Safehold Inc. (NYSE: SAFE), the creator and leader of the modern ground lease industry, has closed on a ground lease to facilitate the ground-up development of The Crawford, an affordable housing community in the Roseville area of Sacramento, California. The low-income tax credit development will include 265 units. The project will be built by USA Properties Fund, Inc., a highly experienced developer based in the Sacramento area, and a repeat Safehold customer. "We'r ...

Paul is one of the analysts at the investing group High Yield Landlord , one of the largest real estate investment communities on Seeking Alpha, with thousands of members. It offers exclusive research on the global REIT sector, multiple real money portfolios, an active chat room, and direct access to the analysts.R Paul Drake spent decades developing data-driven models in his work as a physicist, and now brings the perspective of a retiree to his investing and writing. He is a life-long reader of economics, ...

NEW YORK, Dec. 18, 2024 /PRNewswire/ -- Safehold Inc. (the "Company" or "Safehold") (NYSE: SAFE) announced today that Fitch Ratings ("Fitch") has upgraded its credit ratings on the Company to A- from BBB+, with a stable outlook. Fitch is also assigning an A- rating and stable outlook to the Company's operating subsidiary, Safehold GL Holdings LLC.  "This ratings upgrade is a strong result for the Company, and we appreciate Fitch's recognition of the significant steps we have taken to build a best-in-class c ...