Safehold Q1 revenue $93.2M, EPS $0.43; new $2B revolver, $300M notes issued

Safehold Inc.

2024-Q1 EPS reported $0.43 revenue$93,213,000

Q1 revenue $93.2M (+19% YoY); GAAP net income $30.7M vs $4.7M; diluted EPS $0.43 vs $0.07.
Adjusted EPS excluding merger & Caret costs $0.43 vs $0.41, up 5% YoY.
Closed new $2.0B unsecured revolver; issued $300M 10-year notes at 6.1% coupon (5.3% yield after $21M hedge gains).
Core ground lease portfolio $6.5B aggregate GBV; GLTV 47%, rent coverage 3.6x, 92-year avg lease term.
Multifamily now 55% of asset count; portfolio Caret-adjusted yield 7.5%.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Safehold Inc. reported the first quarter 2024 results: revenue $93.2 million, net income $30.7 million, EPS $0.43.

Period: the first quarter 2024
Revenue: $93.2 million
Net income: $30.7 million
EPS: $0.43
Result: reported results

Exact text from the filing

Highlights from the earnings announcement include: 3⁄4 Q1‘24 revenue was $93.2 million 3⁄4 Q1‘24 net income attributable to common shareholders was $30.7 million 3⁄4 Q1‘24 earnings per share was $0.43 3⁄4 Closed new $2.0 billion unsecured revolving credit facility, replacing previous $1.85 billion aggregate facilities and lowering facility cost 3⁄4 Issued $300 million of 10-year unsecured notes at a 6.1% coupon.

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Source: SEC EDGAR

accession 0001095651-24-000013

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