Safehold Q4 GAAP net income $26M ($0.36 EPS); FY adjusted EPS $1.57, up 8% YoY

Safehold Inc.

2024-FY EPS reported $1.48 revenue$365,685,000

Q4 GAAP net income $26.0M ($0.36 EPS) vs $41.2M ($0.58) YoY; adjusted EPS $0.36 flat as prior year included hedge gain.
FY GAAP net income $105.8M ($1.48 EPS) vs loss of $55.0M; adjusted EPS $1.57 vs $1.45 (+8%). Revenue $365.7M (+4%).
FY new originations $225M (10 ground leases, 1 leasehold loan); portfolio GBV $6.8B, estimated UCA $9.1B.
Completed $700M notes issuance, new $2.0B revolver, $750M CP program; Fitch upgraded to A-; S&P assigned BBB+ Positive.
Caret Series A round redeemed Apr'24 with no impact to liquidity (via restricted account).

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