Safehold (SAFE)

Company Profile

Safehold Inc. is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT) and is managed by its largest shareholder, iStar Inc., seeks to deliver safe, growing income and long-term capital appreciation to its shareholders.

Company profile

Ticker

SAFE

Exchange

NYSE

Website

safeholdinc.com

CEO

Jay Sugarman

Incorporated

Maryland

Location

New York

Fiscal year end

Dec 31

Sector

Real Estate and Rental and Leasing > Lessors of Other Real Estate Property

Industry (SIC)

Lessors of Real Property, NEC

Radius Global Infrastructure • Gladstone Commercial • Landmark Infrastructure Partners • Regional Health Properties • Capital Properties ...

Former names

Safety Income & Growth REIT, Inc., Safety, Income & Growth, Inc.

SEC CIK

0001688852

Corporate docs

Articles of Incorporation & Bylaws

Underwriting Agreements

Plans of Reorganization

Indentures

Material Contracts & Credit Agreements

Subsidiaries Lists

Subsidiaries

1000 E Apache Blvd Ground Owner LLC • 1000 South Clark Ground Owner LLC • 1001 South Center Street Ground Owner LLC • 1007 South Congress North Unit Ground Owner LLC • 101 S Federal Highway Ground Owner LLC • 102 A Philip Randolph Blvd Ground Owner LLC • 102 Madison Avenue Ground Owner LLC • 106 Ridge Street Equity Member LLC • 106 Ridge Street Ground Owner LLC • 10721 Domain Dr Ground Owner LLC ...

SAFE stock data

1M 1Y 5Y

Analyst ratings and price targets

Last 3 months

Latest filings (excl ownership)

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DEFM14A

Proxy related to merger

30 Jan 23

8-K

Safehold Announces New $500 Million Unsecured Revolving Credit Facility

9 Jan 23

425

Business combination disclosure

1 Nov 22

Business combination disclosure

1 Nov 22

425

Business combination disclosure

Safehold Reports Third Quarter 2022 Results

1 Nov 22

425

Business combination disclosure

22 Sep 22

425

Business combination disclosure

14 Sep 22

Transcripts

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SAFE

Earnings call transcript

2022 Q3

1 Nov 22

SAFE

Earnings call transcript

2022 Q2

3 Aug 22

SAFE

Earnings call transcript

2022 Q1

21 Apr 22

SAFE

Earnings call transcript

2021 Q4

15 Feb 22

SAFE

Earnings call transcript

2021 Q3

21 Oct 21

SAFE

Earnings call transcript

2021 Q2

22 Jul 21

SAFE

Earnings call transcript

2021 Q1

22 Apr 21

SAFE

Earnings call transcript

2020 Q4

12 Feb 21

SAFE

Earnings call transcript

2020 Q3

22 Oct 20

SAFE

Earnings call transcript

2020 Q2

23 Jul 20

Latest ownership filings

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Change in insider ownership

Change in insider ownership

Change in insider ownership

Financial summary

Financial statements Chart SAFE financial data

Quarter (USD)	Sep 22	Jun 22	Mar 22	Dec 21
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Annual (USD)	Dec 21	Dec 20	Dec 19	Dec 18
Revenue
Cost of revenue
Operating income
Operating margin
Net income
Net profit margin
Cash on hand
Change in cash
Diluted EPS

Cash burn rate (est.)	Burn method: Change in cash		Burn method: Operating income		Burn method: FCF (opex + capex)
	Last Q	Avg 4Q	Last Q	Avg 4Q	Last Q	Avg 4Q
Cash on hand (at last report)	93.58 mm	93.58 mm	93.58 mm	93.58 mm	93.58 mm	93.58 mm
Cash burn (monthly)	6.02 mm	(no burn)	(no burn)	(no burn)	(no burn)	(no burn)
Cash used (since last report)	24.80 mm	n/a	n/a	n/a	n/a	n/a
Cash remaining	68.77 mm	n/a	n/a	n/a	n/a	n/a
Runway (months of cash)	11.4	n/a	n/a	n/a	n/a	n/a

Beta Read what these cash burn values mean

Financial data from Safehold earnings reports.

Institutional ownership, Q3 2022

SAFE institutional ownership history Ownership history

13F holders	Current	Prev Q	Change
Total holders	151	157	-3.8%
Opened positions	20	17	+17.6%
Closed positions	26	46	-43.5%
Increased positions	74	71	+4.2%
Reduced positions	36	42	-14.3%

13F shares	Current	Prev Q	Change
Total value	2.57 bn	3.61 bn	-28.7%
Total shares	63.89 mm	58.77 mm	+8.7%
Total puts	80.70 k	192.20 k	-58.0%
Total calls	11.60 k	650.00 k	-98.2%
Total put/call ratio	7.0	0.3	+2252.7%

Largest owners	Shares	Value	Change
STAR iStar	40.28 mm	$1.75 bn	+12.1%
GIC Private	4.25 mm	$311.92 mm	0.0%
BLK Blackrock	3.19 mm	$84.42 mm	+4.9%
Vanguard	2.97 mm	$78.61 mm	+5.8%
T. Rowe Price Investment Management	1.80 mm	$47.59 mm	NEW
Long Pond Capital	1.73 mm	$45.68 mm	+79.0%
NewEdge Wealth	1.67 mm	$44.09 mm	+7.3%
Alliancebernstein	1.26 mm	$33.38 mm	-4.4%
MS Morgan Stanley	603.74 k	$15.98 mm	+34.8%
GEM Realty Capital	499.26 k	$13.21 mm	+267.2%

Largest transactions	Shares	Bought/sold	Change
STAR iStar	40.28 mm	+4.36 mm	+12.1%
T. Rowe Price Investment Management	1.80 mm	+1.80 mm	NEW
T. Rowe Price	7.67 k	-1.79 mm	-99.6%
STT State Street	0.00	-1.03 mm	EXIT
Long Pond Capital	1.73 mm	+761.93 k	+79.0%
Millennium Management	13.39 k	-534.81 k	-97.6%
GEM Realty Capital	499.26 k	+363.30 k	+267.2%
Mesirow Institutional Investment Management	340.79 k	+340.79 k	NEW
B&I Capital	379.04 k	+232.72 k	+159.1%
Vanguard	2.97 mm	+161.77 k	+5.8%

Data from 13F filings, for the last complete 13F reporting period. For most recent data, click the ownership history button. Values as filed, not updated for current price. Long positions only.

Recent insider trades

SAFE insider ownership history Insider history

Date	Owner	Security	Transaction	Code	Indirect	10b5-1	#Shares	#Remaining
7 Dec 22	iStar	Common stock, $0.01 par value per share	Other	Dispose J	No	No	6,632,473	33,856,587
26 Oct 22	iStar	Common stock, $0.01 par value per share	Other	Acquire J	No	No	209,983	40,489,060
27 Jul 22	iStar	Common stock, $0.01 par value per share	Other	Acquire J	No	No	133,127	40,279,077
7 Jun 22	Selig Stefan M	Common Stocl, $0.01 par value per share	Grant	Acquire A	No	No	6,500	58,546
7 Jun 22	Nydick Jay S	Common Stock, $0.01 par value per share	Grant	Acquire A	No	No	6,500	25,500