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
Website
CEO
Jay Sugarman
Employees
Incorporated
Location
Fiscal year end
Industry (SIC)
Former names
Safety Income & Growth REIT, Inc., Safety, Income & Growth, Inc.
SEC CIK
Corporate docs
Subsidiaries
100 Cambridgeside Pl Ground Owner LLC • 100 Cambridgeside Pl Member LLC • 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 ...
Latest filings (excl ownership)
15-12G
Securities registration termination
10 Apr 23
EFFECT
Notice of effectiveness
5 Apr 23
POS AM
Prospectus update (post-effective amendment)
31 Mar 23
S-8 POS
Registration of securities for employees (post-effective amendment)
31 Mar 23
POSASR
Automatic shelf registration (post-effective amendment)
31 Mar 23
25-NSE
Exchange delisting
31 Mar 23
8-K
Safehold and iStar Close Merger and Complete Spin-Off of iStar’s Legacy Assets to iStar Stockholders
31 Mar 23
10-K/A
2022 FY
Annual report (amended)
30 Mar 23
8-K
Submission of Matters to a Vote of Security Holders
9 Mar 23
425
Business combination disclosure
8 Mar 23
Transcripts
Earnings call transcript
2022 Q3
1 Nov 22
Earnings call transcript
2022 Q2
3 Aug 22
Earnings call transcript
2022 Q1
21 Apr 22
Earnings call transcript
2021 Q4
15 Feb 22
Earnings call transcript
2021 Q3
21 Oct 21
Earnings call transcript
2021 Q2
22 Jul 21
Earnings call transcript
2021 Q1
22 Apr 21
Earnings call transcript
2020 Q4
12 Feb 21
Earnings call transcript
2020 Q3
22 Oct 20
Earnings call transcript
2020 Q2
23 Jul 20
Latest ownership filings
SC 13G
MSD CAPITAL L P
6 Apr 23
4
Change in insider ownership
4 Apr 23
SC 13D/A
ISTAR INC.
4 Apr 23
SC 13D/A
GIC Private Ltd
4 Apr 23
4
Change in insider ownership
15 Feb 23
SC 13G
VANGUARD GROUP INC
9 Feb 23
SC 13G
BlackRock Inc.
30 Jan 23
SC 13D/A
ISTAR INC.
8 Dec 22
4
Change in insider ownership
7 Dec 22
SC 13D/A
ISTAR INC.
23 Nov 22
Financial summary
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| Annual (USD) | Dec 22 | Dec 21 | Dec 20 | Dec 19 | |
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| 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) | 48.39 mm | 48.39 mm | 48.39 mm | 48.39 mm | 48.39 mm | 48.39 mm |
| Cash burn (monthly) | 15.06 mm | (no burn) | (no burn) | (no burn) | (no burn) | (no burn) |
| Cash used (since last report) | 78.01 mm | n/a | n/a | n/a | n/a | n/a |
| Cash remaining | -29.62 mm | n/a | n/a | n/a | n/a | n/a |
| Runway (months of cash) | -2.0 | n/a | n/a | n/a | n/a | n/a |
Institutional ownership, Q1 2023
0.1% owned by funds/institutions
| 13F holders | Current |
|---|---|
| Total holders | 9 |
| Opened positions | 0 |
| Closed positions | 166 |
| Increased positions | 4 |
| Reduced positions | 2 |
| 13F shares | Current |
|---|---|
| Total value | 2.36 bn |
| Total shares | 115.93 k |
| Total puts | 0.00 |
| Total calls | 0.00 |
| Total put/call ratio | – |
| Largest owners | Shares | Value |
|---|---|---|
| Lubert-adler Management | 53.51 k | $1.57 bn |
| Nomura Asset Management | 25.95 k | $762.15 mm |
| Greenwich Wealth Management | 23.28 k | $684.00 k |
| DekaBank Deutsche Girozentrale | 9.68 k | $288.00 k |
| KBCSF KBC | 2.66 k | $79.00 k |
| Riverview Trust | 613.00 | $18.26 mm |
| Versant Capital Management | 171.00 | $5.09 mm |
| Smithfield Trust | 27.00 | $1.00 k |
| Thrivent Trust Co of Tennessee | 25.00 | $1.00 k |
| GIC Private | 0.00 | $0.00 |
Recent insider trades
| Date | Owner | Security | Transaction | Code | Indirect | 10b5-1 | $Price | #Shares | $Value | #Remaining |
|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 23 | GIC Private | Common Stock, par value $0.01 per share | Sale back to company | Dispose D | Yes | No | 0 | 2,123,435 | 0.00 | 0 |
| 21 Mar 23 | GIC Private | Common Stock, par value $0.01 per share | Sale back to company | Dispose D | Yes | No | 0 | 2,125,000 | 0.00 | 0 |
| 15 Feb 23 | Safehold | Common stock, $0.01 par value per share | Other | Acquire J | Yes | No | 0 | 152,801 | 0.00 | 34,009,388 |
| 7 Dec 22 | Safehold | Common stock, $0.01 par value per share | Other | Dispose J | No | No | 0 | 6,632,473 | 0.00 | 33,856,587 |
| 26 Oct 22 | Safehold | Common stock, $0.01 par value per share | Other | Acquire J | No | No | 0 | 209,983 | 0.00 | 40,489,060 |
| 27 Jul 22 | Safehold | Common stock, $0.01 par value per share | Other | Acquire J | No | No | 0 | 133,127 | 0.00 | 40,279,077 |
Press releases
Safehold and iStar Close Merger and Complete Spin-Off of iStar's Legacy Assets to iStar Stockholders
31 Mar 23
iStar Announces Final Consolidation Ratio in Connection with Safehold Merger
30 Mar 23
N-able Set to Join S&P SmallCap 600
28 Mar 23
Safehold Declares First Quarter 2023 Common Stock Dividend
20 Mar 23
iStar Announces Details for Anticipated Spin-Off in Connection with the Safehold Merger
17 Mar 23