secwatch.observer — SEC 8-K summary
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Issuer:     Safehold Inc. (SAFE)
CIK:        0001095651
Form:       8-K
Filed at:   2024-05-06T23:59:59+00:00
Accession:  0001095651-24-000013
Event type: earnings
Sentiment:  positive
Materiality: 0.70
Item codes: 2.02, 7.01, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1095651/000109565124000013/0001095651-24-000013-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1095651/000109565124000013/safe-20240506x8k.htm
  HTML page:      https://secwatch.observer/filing/0001095651-24-000013

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer