Safehold Q2 revenue up 5% to $89.9M, EPS $0.42 (+20% YoY), new $2B revolver

Safehold Inc.

2024-Q2 EPS reported $0.85 revenue$183,108,000

Q2 revenue $89.9M (+5% YoY); net income $29.7M (+34%); diluted EPS $0.42 (+20%).
Closed six new ground leases for $98M, growing portfolio to 143 ground leases ($6.5B).
New $2.0B unsecured revolving credit facility (replaces $1.85B) and $750M commercial paper program established.
Portfolio metrics: GLTV 48%, rent coverage 3.6x, debt/equity 1.89x; $1.06B liquidity.
Adjusted EPS excluding merger/Caret costs was $0.41 (+15% YoY); YTD adjusted EPS $0.84.

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