Safehold (US:SAFE) Prnewswireยท2025-02-05 21:05Core Insights - Safehold Inc. reported strong financial results for Q4 and FY 2024, highlighting increased earnings and liquidity, along with a new share repurchase program authorization of up to $50 million [1][6]. Financial Performance - Q4 2024 revenue was $91.9 million, while FY 2024 revenue totaled $365.7 million [6]. - Net income attributable to common shareholders for Q4 2024 was $26.0 million, and for FY 2024 it was $105.8 million, or $112.0 million when excluding non-cash general provision for credit losses [6]. - Earnings per share (EPS) for Q4 2024 was $0.36, and for FY 2024 it was $1.48, or $1.57 when excluding non-cash general provision for credit losses [6]. Strategic Developments - The company emphasized its position as a market leader in the ground lease sector, with a focus on creating value for shareholders and serving customers [2]. - In 2024, Safehold made $225 million in new originations, including ten new ground leases for $193 million and one leasehold loan for $32 million, bringing the total portfolio to $6.8 billion [6][7]. - The company received credit rating upgrades, achieving an A- rating from Fitch Ratings and a BBB+ rating with a Positive Outlook from S&P Global Ratings [6]. Shareholder Returns - The Board of Directors authorized a share repurchase program of up to $50 million, allowing for repurchases in the open market or through negotiated transactions [1][6].