earnings
confidence high
sentiment positive
materiality 0.70
Safehold Q3 revenue $90.7M, adjusted EPS $0.37, new originations $104M
Safehold Inc.
2024-Q3 EPS reported
$1.12
revenue$273,813,000
- Q3 GAAP EPS $0.27; adjusted EPS $0.37 (ex. $6.8M prior-period credit loss provision).
- Revenue $90.7M (+6% YoY); net income $19.3M vs. ($123M) loss in Q3'23.
- Closed $104M new originations: $72M ground leases + $32M leasehold loan.
- Purchased JV partner's interest in 9 ground leases for $69M net commitment.
- Non-cash credit loss provision $7.5M; $6.8M applied to prior period balances.