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.
MG
Mitch Germain
Citizens JMP
6 questions for SAFE
Also covers: ADC, ALEX, BNL +17 more
RK
Ronald Kamdem
Morgan Stanley
6 questions for SAFE
Also covers: AAT, ADC, AHR +37 more
HH
Harsh Hemnani
Green Street
5 questions for SAFE
Also covers: AGNC, ARI, BXMT +2 more
KB
Ki Bin Kim
Truist Securities
4 questions for SAFE
Also covers: ADC, AKR, BNL +20 more
AP
Anthony Paolone
JPMorgan Chase & Co.
3 questions for SAFE
Also covers: ALX, ARE, AVB +32 more
CB
Caitlin Burrows
Goldman Sachs
3 questions for SAFE
Also covers: ALX, BNL, BRX +19 more
HS
Haendel St. Juste
Mizuho Financial Group
3 questions for SAFE
Also covers: AAT, ADC, AIV +21 more
KL
Kenneth Lee
RBC Capital Markets
3 questions for SAFE
Also covers: AAMI, AMP, APAM +20 more
Rich Anderson
Cantor Fitzgerald
2 questions for SAFE
Also covers: ARE, CDP, CPT +11 more
RA
Richard Anderson
Wedbush Securities
2 questions for SAFE
Also covers: AIV, ARE, AVB +25 more
JK
Jeremy Kuhl
Goldman Sachs
1 question for SAFE
Also covers: EXR, VICI
Jon Petersen
Jefferies
1 question for SAFE
Also covers: AHH, CORZ, CUBE +12 more
KB
Kyle Bonsey
Truist Securities
1 question for SAFE
RV
Ravi Vaidya
Mizuho
1 question for SAFE
Also covers: AAT, CUBE, EPRT +11 more
SK
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 Reports Q4 and Full Year 2025 Results, Outlines 2026 Strategic Priorities
SAFE
Earnings
New Projects/Investments
Share Buyback
- Safehold reported Q4 2025 GAAP revenue of $97.9 million and net income of $27.9 million, with earnings per share of $0.39. For the full year 2025, GAAP revenue was $385.6 million and net income was $114.5 million, with EPS of $1.59.
- The company's total portfolio grew to $7.1 billion at year-end 2025, with estimated Unrealized Capital Appreciation (UCA) reaching $9.3 billion, an increase of approximately $200 million from the prior quarter.
- In Q4 2025, Safehold closed 10 transactions for an aggregate commitment of $167 million, contributing to a full-year aggregate capital commitment of $429 million across 21 transactions.
- Safehold received a credit rating upgrade from S&P to A- with a stable outlook, achieving single-A ratings from all three major agencies, and closed a $400 million unsecured term loan.
- For 2026, key objectives include increasing ground lease volume, enhancing Caret's value recognition, and utilizing its share repurchase program when market conditions are suitable and leverage considerations allow.
Feb 12, 2026, 2:00 PM
Safehold Reports Q4 and Full-Year 2025 Results, Outlines 2026 Strategic Goals
SAFE
Earnings
New Projects/Investments
Share Buyback
- Safehold reported Q4 2025 GAAP revenue of $97.9 million and EPS of $0.39, with full-year 2025 GAAP revenue reaching $385.6 million and EPS of $1.59.
- The company closed 10 transactions in Q4 2025 for an aggregate commitment of $167 million, contributing to a full-year total of $429 million in capital commitments from 21 transactions.
- Safehold received a credit rating upgrade from S&P to A- with a stable outlook, securing single-A ratings from all three major agencies, and enhanced its liquidity by closing a $400 million unsecured term loan.
- Key strategic objectives for 2026 include increasing ground lease volume, improving Caret's market recognition, and initiating share repurchases, supported by $1.2 billion of liquidity at year-end.
- The total portfolio stood at $7.1 billion at year-end, with estimated Unrealized Capital Appreciation (UCA) increasing to $9.3 billion.
Feb 12, 2026, 2:00 PM
Safehold Reports Q4 and Full Year 2025 Results, Details 2026 Strategic Priorities
SAFE
Earnings
New Projects/Investments
Share Buyback
- Safehold reported Q4 2025 GAAP revenue of $97.9 million and net income of $27.9 million, with earnings per share of $0.39. For the full year 2025, GAAP revenue was $385.6 million, net income was $114.5 million, and earnings per share was $1.59.
- The company closed 10 transactions in Q4 2025 for an aggregate commitment of $167 million, contributing to a full-year total of $429 million across 17 ground leases and 4 leasehold loans. The total portfolio reached $7.1 billion at year-end 2025, with estimated unrealized capital appreciation (UCA) of $9.3 billion.
- Safehold received a credit rating upgrade from S&P to A- with a stable outlook, now holding single-A ratings from all three major agencies. The company also closed a $400 million unsecured term loan and ended the year with approximately $1.2 billion of liquidity.
- Key strategic goals for 2026 include increasing ground lease volume, enhancing Caret's value recognition, and utilizing the previously authorized share repurchase program when market conditions are suitable.
Feb 12, 2026, 2:00 PM
Safehold Inc. Announces Estimated Unrealized Capital Appreciation as of Q4 2025
SAFE
New Projects/Investments
Accounting Changes
- Safehold Inc. announced an estimated Unrealized Capital Appreciation (UCA) of $9,272 million in its owned residual portfolio as of December 31, 2025.
- This UCA is derived from an aggregate Combined Property Value of $15,947 million in excess of the aggregate Ground Lease Cost of $6,675 million as of December 31, 2025.
- CBRE, Inc., an independent valuation firm, was engaged to prepare initial and periodic updates of Combined Property Values, utilizing methodologies such as the sales comparison and income capitalization approaches.
- The calculation of the estimated UCA is not subject to U.S. GAAP and will not be subject to independent audit, with the valuation methodology potentially subject to changes by the board of directors.
Feb 11, 2026, 9:15 PM
Safehold Inc. Reports Q4 and Fiscal Year 2025 Results, Portfolio Growth, and Credit Rating Upgrade
SAFE
Earnings
Debt Issuance
New Projects/Investments
- Safehold Inc. reported Q4 2025 revenue of $97.9 million and fiscal year 2025 revenue of $385.6 million. Net income attributable to common shareholders was $27.9 million ($0.39 EPS) for Q4 2025 and $114.5 million ($1.59 EPS) for FY 2025.
- Estimated Unrealized Capital Appreciation increased to $9.3 billion, and the aggregate ground lease portfolio grew to $7.1 billion with $429 million in new originations during 2025.
- The company's credit rating was upgraded to A- with stable outlook from S&P Ratings, aligning with A3/A- ratings from Moody's and Fitch, all with stable outlook.
- Safehold also closed a $400 million 5-year unsecured term loan and repaid $227 million secured debt maturing in 2027.
Feb 11, 2026, 9:12 PM
Safehold Reports Fourth Quarter and Fiscal Year 2025 Results
SAFE
Earnings
New Projects/Investments
Debt Issuance
- Safehold Inc. reported Q4 2025 revenue of $97.9 million and FY 2025 revenue of $385.6 million.
- Q4 2025 earnings per share (EPS) was $0.39, or $0.42 excluding non-recurring losses, while FY 2025 EPS was $1.59, or $1.65 excluding non-recurring losses.
- The company made $429 million in new originations in 2025, including 17 new ground leases for $277 million and four leasehold loans for $152 million, bringing the total aggregate ground lease portfolio to $7.1 billion.
- Safehold received a credit ratings upgrade to A- with a stable outlook from S&P Ratings, and closed a $400 million 5-year unsecured term loan.
- Chairman and CEO Jay Sugarman stated that Safehold had a productive 2025, is well positioned for 2026, and its cost of capital has significantly improved.
Feb 11, 2026, 9:05 PM
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%.
Dec 5, 2025, 9:23 PM
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.
Dec 3, 2025, 9:05 PM
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.
Dec 1, 2025, 12:30 PM
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
Quarterly earnings call transcripts for Safehold.
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