Earnings summaries and quarterly performance for Safehold.
Executive leadership at Safehold.
Board of directors at Safehold.
Research analysts who have asked questions during Safehold earnings calls.
Mitch Germain
Citizens JMP
4 questions for SAFE
Also covers: ALEX, CIGI, CWK +13 more
Ronald Kamdem
Morgan Stanley
4 questions for SAFE
Also covers: AAT, ADC, AHR +36 more
Anthony Paolone
JPMorgan Chase & Co.
3 questions for SAFE
Also covers: ARE, BDN, BNL +29 more
Caitlin Burrows
Goldman Sachs
3 questions for SAFE
Also covers: ALX, BNL, BRX +19 more
Haendel St. Juste
Mizuho Financial Group
3 questions for SAFE
Also covers: AAT, ADC, AIV +21 more
Harsh Hemnani
Green Street
3 questions for SAFE
Also covers: AGNC, ARI, BXMT +2 more
Ki Bin Kim
Truist Securities
3 questions for SAFE
Also covers: ADC, AKR, BNL +20 more
Richard Anderson
Wedbush Securities
2 questions for SAFE
Also covers: AIV, ARE, AVB +25 more
Jeremy Kuhl
Goldman Sachs
1 question for SAFE
Also covers: EXR, VICI
Jon Petersen
Jefferies
1 question for SAFE
Also covers: CORZ, CUBE, DLR +11 more
Kenneth Lee
RBC Capital Markets
1 question for SAFE
Also covers: AAMI, AMP, APAM +17 more
Ravi Vaidya
Mizuho
1 question for SAFE
Also covers: AAT, CUBE, EXR +9 more
Stephen Kim
Evercore ISI
1 question for SAFE
Also covers: AWI, BLD, DHI +11 more
Stephen Laws
Raymond James
1 question for SAFE
Also covers: ABR, ACR, AJX +16 more
Recent press releases and 8-K filings for SAFE.
Safehold Inc. Amends RCF Credit Agreement Financial Covenants
SAFE
Debt Issuance
- On December 5, 2025, Safehold GL Holdings LLC and Safehold Inc. entered into a Second Amendment to their RCF Credit Agreement, originally dated April 12, 2024.
- This amendment was made to conform the financial covenants in the RCF Credit Agreement to those of the company's previously announced unsecured term loan A facility, which was entered into on November 25, 2025.
- The amended RCF Credit Agreement requires Safehold Inc. to comply with the following financial covenants: a ratio of Consolidated EBITDA to annualized fixed charges not less than 1.15:1.00, a ratio of total unencumbered assets to total unsecured debt not less than 1.25:1.00 (a change from the previous 1.33:1.00), and a ratio of Secured Debt (net of unrestricted cash and cash equivalents) to total asset value not to exceed 50%.
1 day ago
Safehold Reports Inducement Awards for New President
SAFE
Executive Compensation
Management Change
Hiring
- Safehold Inc. approved inducement awards for its new President, Mr. Michael Trachtenberg, on December 1, 2025.
- The awards comprise performance-based restricted stock unit awards and time-based awards, totaling an aggregate of 853,076 shares of Safehold common stock.
- These awards were granted as inducements material to Mr. Trachtenberg's employment, in accordance with New York Stock Exchange Listing Rule 303A.08.
- Performance-based awards are tied to stock price hurdles (with the highest hurdle representing a 249% increase over the November 28, 2025 closing stock price) over a five-year period ending February 15, 2031, and a ground lease origination threshold, as well as commitments for the company's affordable housing business.
- The time-based award will vest in five equal annual installments, subject to continuous employment.
3 days ago
Safehold Appoints Michael Trachtenberg as President
SAFE
Management Change
Hiring
- Safehold Inc. announced the appointment of Michael Trachtenberg as President of the Company on December 1, 2025.
- Mr. Trachtenberg, a real estate industry veteran with over two decades of operational experience, will oversee operations and execution across the business, working directly with Safehold's Chief Executive Officer Jay Sugarman.
- Prior to joining Safehold, he most recently served as President of Lubert-Adler, a multibillion-dollar real estate fund manager, where he spent nearly 20 years.
- The company anticipates that Mr. Trachtenberg's leadership and experience will help fuel Safehold's next stage of growth and drive long-term value for shareholders.
6 days ago
Safehold Announces $400 Million Unsecured Term Loan
SAFE
Debt Issuance
- Safehold Inc. closed a $400 million unsecured term loan on November 25, 2025, with a fully extended maturity date of November 15, 2030.
- The term loan carries a borrowing rate of SOFR plus 90 basis points and its proceeds were primarily used to repay approximately $400 million of borrowings under its $2.0 billion revolving credit facility.
- This financing replaces capital from a recent $227 million secured debt repayment and increases Safehold's liquidity position to $1.3 billion.
- The Term Loan Credit Agreement also features an accordion option to increase the term loans by up to an additional $600 million.
Nov 26, 2025, 9:14 PM
Safehold Announces $400 Million Unsecured Term Loan Closure
SAFE
Debt Issuance
Liquidity
- Safehold Inc. has closed on a $400 million unsecured term loan with a fully extended maturity date of November 15, 2030.
- The loan carries a borrowing rate of SOFR plus 90 basis points, reflecting Safehold's A3 / A- / A- credit ratings.
- Proceeds from the loan will be utilized for debt repayment and general corporate purposes, including replacing $227 million of recently repaid secured debt.
- This financing increases the Company's liquidity position to $1.3 billion and proactively addresses its nearest-term maturity.
Nov 25, 2025, 9:05 PM
Safehold Receives Credit Ratings Upgrade from S&P Global Ratings
SAFE
Debt Issuance
- Safehold Inc. (NYSE: SAFE) announced that S&P Global Ratings upgraded its credit ratings to A- from BBB+, with a stable outlook.
- S&P also assigned an A- rating and stable outlook to the Company's operating subsidiary, Safehold GL Holdings LLC.
- The upgrade reflects Safehold's steady asset quality and business stability despite stress in the CRE sector, demonstrating the structural integrity of its ground leases.
- This achievement means Safehold now holds single-A ratings from all three major agencies, which is expected to benefit customers and shareholders through better capital access and a lower cost of funds.
Nov 24, 2025, 10:39 PM
Safehold Reports Q3 2025 Results and Initiates Legal Proceedings
SAFE
Earnings
New Projects/Investments
Legal Proceedings
- Safehold reported Q3 2025 GAAP revenue of $96.2 million, net income of $29.3 million, and earnings per share of $0.41.
- The company originated four multifamily ground leases for $42 million in Q3 2025 and an additional four for $34 million in Q4 2025 to date, primarily in the affordable housing subsegment with a weighted average economic yield of 7.3%.
- The total portfolio reached $7 billion with an estimated unrealized capital appreciation (UCA) of $9.1 billion at quarter-end.
- Safehold initiated legal proceedings against Park Hotels by sending a lease termination notice for all five hotels under the master lease, citing breaches in maintenance and operating standards.
- The company's pipeline includes over 15 deals totaling more than $300 million under Letter of Intent (LOI), expected to close in the coming quarters.
Nov 5, 2025, 10:00 PM
Safehold Reports Strong Q3 2025 Earnings and Portfolio Growth
SAFE
Earnings
New Projects/Investments
- Safehold reported Q3 2025 GAAP Net Income of $29.3 million, a 51% increase year-over-year, with GAAP EPS of $0.41, up 52% year-over-year.
- The company's total portfolio aggregate gross book value reached $7.0 billion as of September 30, 2025, encompassing a total of 155 assets.
- New ground lease originations in Q3 2025 amounted to $42 million, contributing to total ground lease fundings of $48 million.
- As of September 30, 2025, Safehold maintained $1.13 billion in cash and credit facility availability.
Nov 5, 2025, 10:00 PM
Safehold Inc. Announces Estimated Unrealized Capital Appreciation as of Q3 2025
SAFE
- Safehold Inc. reported its estimated Unrealized Capital Appreciation (UCA) in its owned residual portfolio as of September 30, 2025.
- The UCA and its components are detailed below :
| Metric | Q3 2025 |
|---|---|
| Combined Property Value ($USD Millions) | $15,634 |
| Ground Lease Cost ($USD Millions) | $6,565 |
| Unrealized Capital Appreciation ($USD Millions) | $9,069 |
- CBRE, Inc., an independent valuation firm, is engaged to prepare initial and periodic reports on the Combined Property Value of the company's ground leases.
- The valuation methodology used by CBRE, Inc. includes sales comparison and income capitalization approaches, based on hypothetical fee simple values and market rents, and is subject to various assumptions and limitations.
Nov 5, 2025, 9:10 PM
Safehold Inc. Reports Strong Q3 2025 Earnings and Portfolio Growth
SAFE
Earnings
New Projects/Investments
- Safehold Inc. reported revenues of $96.2 million for Q3 2025, marking a 6% increase year-over-year, with year-to-date 2025 revenues reaching $287.7 million.
- GAAP Net Income Attributable to Safehold Inc. common shareholders for Q3 2025 was $29.3 million, a 51% increase compared to Q3 2024, resulting in GAAP EPS of $0.41.
- The company's Total Portfolio Aggregate Gross Book Value (GBV) stood at $7.0 billion as of September 30, 2025, following $42 million in new ground lease originations during Q3 2025.
- Safehold maintained strong financial liquidity with $1.1 billion in cash and credit facility availability as of September 30, 2025, and reported a total debt to total equity ratio of 2.00x.
Nov 5, 2025, 9:07 PM
Quarterly earnings call transcripts for Safehold.
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