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

Safehold (NYSE:SAFE) released its earnings results 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%.

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 Price Performance

Shares of Safehold stock traded down $0.55 during trading on Thursday, reaching $15.80. 300,192 shares of the stock traded hands, compared to its average volume of 263,929. The company has a market capitalization of $1.13 billion, a price-to-earnings ratio of 9.94, a P/E/G ratio of 2.09 and a beta of 1.77. The business has a fifty day simple moving average of $15.84 and a two-hundred day simple moving average of $15.24. The company has a debt-to-equity ratio of 1.91, a current ratio of 35.58 and a quick ratio of 35.59. Safehold has a 52-week low of $12.76 and a 52-week high of $17.45.

Safehold Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, July 15th. Shareholders of record on Tuesday, June 30th were issued 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

SAFE has been the topic of several recent analyst reports. Wall Street Zen upgraded shares of Safehold from a “sell” rating to a “hold” rating in a research report on Saturday, July 4th. Royal Bank Of Canada lowered Safehold from a “market outperform” rating to a “sector perform” rating and cut their price target for the stock from $18.00 to $16.00 in a research note on Friday, May 1st. The Goldman Sachs Group dropped their price objective on Safehold from $27.00 to $23.00 and set a “buy” rating for the company in a research note on Friday, May 15th. Zacks Research upgraded Safehold from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 21st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Safehold in a report on Friday, July 17th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $18.71.

Hedge Funds Weigh In On Safehold

Several institutional investors have recently added to or reduced their stakes in SAFE. Franklin Resources Inc. raised its holdings in shares of Safehold by 5.6% during the 2nd quarter. Franklin Resources Inc. now owns 16,462 shares of the company’s stock worth $256,000 after acquiring an additional 878 shares in the last quarter. Federation des caisses Desjardins du Quebec increased its position in Safehold by 25.8% in the fourth quarter. Federation des caisses Desjardins du Quebec now owns 4,429 shares of the company’s stock worth $61,000 after purchasing an additional 908 shares during the last quarter. State of Tennessee Department of Treasury raised its stake in Safehold by 6.0% during the second quarter. State of Tennessee Department of Treasury now owns 18,567 shares of the company’s stock valued at $289,000 after purchasing an additional 1,048 shares in the last quarter. Amundi raised its stake in Safehold by 2.6% during the first quarter. Amundi now owns 50,855 shares of the company’s stock valued at $906,000 after purchasing an additional 1,306 shares in the last quarter. Finally, 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 valued at $576,000 after purchasing an additional 1,308 shares during the last quarter. Hedge funds and other institutional investors own 70.38% of the company’s stock.

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.