Safehold (SAFE) Reports Q3 Earnings: What Key Metrics Have to Say

Core Insights - Safehold (SAFE) reported revenue of $90.71 million for the quarter ended September 2024, reflecting a 6$0.37 from $0.33 in the same quarter last year [1] - The reported revenue was slightly below the Zacks Consensus Estimate of$90.89 million, resulting in a revenue surprise of -0.21%, while EPS met the consensus estimate [1] Financial Performance Metrics - Operating lease income was reported at $16.65 million, slightly below the average estimate of$16.68 million, marking a year-over-year decline of 0.4% [3] - Interest income from sales-type leases reached $67.12 million, exceeding the estimated$66.45 million, and showing a significant year-over-year increase of 13.5% [3] - Other income was reported at $4.55 million, below the average estimate of$4.91 million, representing a substantial year-over-year decrease of 38% [3] - Interest income from related parties was $2.38 million, closely aligning with the estimated$2.39 million [3] - Net income per share (diluted) was reported at $0.27, falling short of the average estimate of$0.37 [3] Stock Performance - Over the past month, Safehold's shares have declined by 12.5%, contrasting with a 2% increase in the Zacks S&P 500 composite [4] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [4]