Safehold Reports Better-Than-Expected GAAP EPS and Revenue for Q2
Safehold (SAFE:NYSE) reported second-quarter results that exceeded expectations, with a GAAP earnings per share of $0.42, beating estimates by $0.01. The company also generated revenue of $114.6 million, surpassing forecasts by $1.01 million and growing 22.2% year-over-year. Key developments included the closing of a $150 million new ground lease originations deal, forming a $348 million joint venture with Brookfield on a portfolio of ground leases, and completing a $225 million private placement of structured senior unsecured notes due in 2056. The company also reported an estimated Unrealized Capital Appreciation increase to $9.8 billion. These results highlight Safehold's continued momentum in the real estate sector as it expands its ground lease portfolio and secures long-term financing.
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Topics: joint_venture real_estate revenue_growth