Safehold (NYSE:SAFE) Posts Quarterly Earnings Results, Beats Expectations By $0.01 EPS

Safehold (NYSE:SAFE) announced its earnings results on Thursday. The company reported $0.42 EPS for the quarter, topping the consensus estimate of $0.41 by $0.01, FiscalAI reports. Safehold had a return on equity of 4.78% and a net margin of 28.58%.

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 Trading Down 3.4%

Shares of SAFE traded down $0.55 during trading hours on Thursday, hitting $15.80. 300,192 shares of the stock traded hands, compared to its average volume of 263,929. The business has a fifty day moving average of $15.84 and a 200-day moving average of $15.24. The firm has a market capitalization of $1.13 billion, a PE ratio of 9.94, a price-to-earnings-growth ratio of 2.09 and a beta of 1.77. Safehold has a 1-year low of $12.76 and a 1-year high of $17.45. The company has a current ratio of 35.58, a quick ratio of 35.59 and a debt-to-equity ratio of 1.91.

Safehold Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.177 per share. This represents a $0.71 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Tuesday, June 30th. Safehold’s dividend payout ratio is 44.65%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Safehold

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Long Pond Capital LP acquired a new position in Safehold during the 4th quarter valued at about $12,936,000. Michelson Medical Research Foundation Inc. acquired a new stake in shares of Safehold during the 2nd quarter worth approximately $4,629,000. Deutsche Bank AG raised its stake in shares of Safehold by 339.9% during the fourth quarter. Deutsche Bank AG now owns 370,042 shares of the company’s stock worth $5,066,000 after buying an additional 285,920 shares during the last quarter. Millennium Management LLC raised its stake in shares of Safehold by 883.8% during the third quarter. Millennium Management LLC now owns 237,373 shares of the company’s stock worth $3,677,000 after buying an additional 213,244 shares during the last quarter. Finally, Tudor Investment Corp ET AL lifted its holdings in Safehold by 936.9% in the fourth quarter. Tudor Investment Corp ET AL now owns 223,678 shares of the company’s stock valued at $3,062,000 after buying an additional 202,106 shares during the period. 70.38% of the stock is owned by institutional investors.

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.