Safehold Inc. Reports Q3 2026 Results Amid Rising Interest Rates
Safehold Inc. (SAFE) reported third-quarter revenue of $118.7 million and net income of $28.8 million, resulting in earnings per share of $0.41. While EPS remained flat year-over-year due to lower management fees and unconsolidated joint venture earnings, the company saw significant growth in its affordable housing production compared to previous years. The company's performance was heavily influenced by rising long-term interest rates, which management noted has increased transaction complexity and delayed some deals requiring debt and equity alignment. Despite these headwinds, Safehold maintained a stable leverage ratio of 2.04x and reported an aggregate gross book value of $7.4 billion with substantial unrealized capital appreciation of $9.9 billion.
Tickers: $SAFE
Topics: Earnings Per Share Ground Leases Liquidity Net Income Revenue
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