The earnings call highlighted strong growth in multifamily ground leases and robust liquidity, but was overshadowed by challenges with the Park Hotel master lease and litigation. Economic yields showed potential for profitability, yet the slight decline in rent coverage and extended deal closure timelines presented concerns.
Company Guidance
During the third quarter of 2025, Safehold reported originating eight multifamily ground leases totaling $76 million, primarily within the affordable housing sector in Los Angeles and San Diego, with a weighted average economic yield of 7.3%. The total portfolio reached $7 billion, with unrealized capital appreciation (UCA) at $9.1 billion. Portfolio gross loan-to-value (GLTV) was maintained at 52%, while rent coverage slightly decreased to 3.4x. Safehold ended the quarter with $1.1 billion in liquidity, supported by $4.8 billion in debt and a weighted average debt maturity of 19 years. The portfolio's economic yield stood at 5.9%, increasing to a 6.0% inflation-adjusted yield, with potential upside to 7.5% when accounting for unrealized capital appreciation from their CARET ownership. The company remains focused on expanding its ground lease market, particularly in the affordable housing sector, and is encouraged by the strong balance sheet and liquidity position to be more offensive with customers.
Strong Growth in Multifamily Ground Leases
Safehold originated 8 multifamily ground leases totaling $76 million in the third quarter and fourth quarter to date, with a weighted average economic yield of 7.3%.
Uptick in Economic Yields
New originations have been achieving economic yields up to 7.5%, indicating strong profitability potential.
Robust Liquidity Position
Safehold ended the quarter with approximately $1.1 billion of liquidity supported by potential available capacity in joint ventures.
High Credit Ratings
Safehold maintains strong credit ratings with A3 stable outlook by Moody's, A- stable outlook by Fitch, and BBB+ positive outlook by S&P.
Safehold (SAFE) Earnings, Revenues Date & History
The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
SAFE Earnings-Related Price Changes
Report Date
Price 1 Day Before
Price 1 Day After
Percentage Change
Nov 05, 2025
$14.38
$12.84
-10.71%
Aug 05, 2025
$14.09
$13.91
-1.28%
May 06, 2025
$15.00
$15.60
+4.00%
Feb 05, 2025
$16.02
$17.29
+7.93%
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does Safehold (SAFE) report earnings?
Safehold (SAFE) is schdueled to report earning on Feb 16, 2026, After Close (Confirmed).
What is Safehold (SAFE) earnings time?
Safehold (SAFE) earnings time is at Feb 16, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.