Safehold (NYSE:SAFE) Issues Quarterly Earnings Results

Safehold (NYSE:SAFE) posted its quarterly earnings data on Thursday. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01, FiscalAI reports. Safehold had a net margin of 28.58% and a return on equity of 4.78%. The company had revenue of $114.65 million during the quarter, compared to the consensus estimate of $110.78 million.

Here are the key takeaways from Safehold’s conference call:

• Investment activity accelerated: Safehold originated seven multifamily ground leases totaling $150 million, its strongest quarter since 2022, primarily in affordable housing across California and Texas.
• The company completed a $348 million Brookfield joint venture and issued $225 million of 30-year unsecured notes, helping de-lever the balance sheet, extend maturities, and increase investment capacity while retaining an option to repurchase Brookfield’s interest.
• Estimated unrealized capital appreciation rose to $9.8 billion, up $260 million quarter over quarter and nearly $1 billion since valuations bottomed in the first quarter of 2025; liquidity stood at approximately $1.4 billion.
• Management expects to continue converting its active pipeline over the next several quarters, though elevated and volatile interest rates can delay transactions because sponsors must coordinate Safehold’s capital with debt and other equity sources.
• Multifamily now represents roughly 65% of the portfolio by asset count and 61% by estimated unrealized appreciation, with management planning to keep emphasizing the sector while remaining open to other property types; office opportunities face a particularly high bar.

Safehold Stock Performance

Safehold stock traded up $0.54 during mid-day trading on Friday, hitting $16.38. 169,526 shares of the company’s stock traded hands, compared to its average volume of 362,384. The company has a debt-to-equity ratio of 1.91, a current ratio of 35.58 and a quick ratio of 35.59. The firm has a 50 day simple moving average of $15.84 and a two-hundred day simple moving average of $15.24. Safehold has a fifty-two week low of $12.76 and a fifty-two week high of $17.45. The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 10.34, a P/E/G ratio of 2.09 and a beta of 1.77.

Safehold Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Investors of record on Tuesday, June 30th were paid a $0.177 dividend. This represents a $0.71 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Tuesday, June 30th. Safehold’s dividend payout ratio is 44.65%.

Institutional Trading of Safehold

A number of hedge funds have recently modified their holdings of the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Safehold by 4.4% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,778 shares of the company’s stock worth $576,000 after acquiring an additional 1,308 shares during the last quarter. Amundi lifted its holdings in Safehold by 11.1% during the 4th quarter. Amundi now owns 38,774 shares of the company’s stock worth $531,000 after purchasing an additional 3,868 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in Safehold by 6.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 26,283 shares of the company’s stock worth $409,000 after purchasing an additional 1,553 shares during the last quarter. Inceptionr LLC bought a new stake in Safehold in the 4th quarter valued at $399,000. Finally, Macquarie Group Ltd. boosted its stake in Safehold by 13.3% in the 4th quarter. Macquarie Group Ltd. now owns 27,819 shares of the company’s stock valued at $381,000 after purchasing an additional 3,272 shares during the period. Institutional investors and hedge funds own 70.38% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the company. Weiss Ratings reiterated a “hold (c-)” rating on shares of Safehold in a research note on Friday, July 17th. Royal Bank Of Canada cut shares of Safehold from a “market outperform” rating to a “sector perform” rating and decreased their target price for the company from $18.00 to $16.00 in a research note on Friday, May 1st. Wall Street Zen raised shares of Safehold from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. The Goldman Sachs Group cut their price target on shares of Safehold from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Finally, Zacks Research raised shares of Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, Safehold currently has an average rating of “Hold” and a consensus target price of $18.71.

About Safehold

Safehold Inc is a real estate investment trust that seeks to redefine land ownership for commercial property owners. The company acquires perpetual ground leases from landowners and structures long-term leaseback arrangements, enabling building owners to unlock the value of underlying land without relinquishing operational control of their properties. By separating land ownership from building ownership, Safehold offers an alternative to traditional mortgage financing and land sale–leaseback transactions.

Safehold’s portfolio spans multiple commercial real estate sectors, including office, multifamily, industrial and retail, with a focus on high-quality properties in major U.S.