Q3'25 Earnings Results - Revenues reached $96.2 million, a 6% increase year-over-year, and $287.7 million year-to-date, a 5% increase[10] - GAAP Net Income was $29.3 million, a 51% increase year-over-year, and $86.6 million year-to-date, a 9% increase[10] - Earnings Per Share (EPS) was $0.41, a 52% increase year-over-year, and $1.21 year-to-date, an 8% increase[10] - Excluding non-recurring gains and losses, EPS increased by $0.04 year-over-year due to asset funding and origination[11] Portfolio Activity - Q3'25 originations included four new ground leases valued at $42 million with a 34% GLTV and a 7.3% economic yield[4,8] - Total portfolio aggregate GBV reached $7.0 billion, with an estimated unrealized capital appreciation (UCA) of $9.1 billion[5] - The company has $1.1 billion available in cash and credit facility[5] - The company has $400 million remaining capital for JV with Leading Sovereign Wealth Fund[5] Portfolio Composition - The core ground lease portfolio has a gross book value of $6.9 billion with a 91-year weighted average extended lease term[12,16] - Multifamily assets constitute 41% of the portfolio by GBV, with a rent coverage of 3.6x and a GLTV of 39%[18] - Office assets constitute 40% of the portfolio by GBV, with a rent coverage of 3.1x and a GLTV of 70%[18]

Financial Performance - Revenues for Q2'25 reached $93.8 million, a 4% increase compared to $89.9 million in Q2'24[10] - Net income attributable to Safehold Inc common shareholders was $27.9 million in Q2'25, a 6% decrease from $29.7 million in Q2'24[10] - Earnings per share (EPS) were $0.39 in Q2'25, down 6% year-over-year from $0.42[10] Portfolio Growth and Composition - Aggregate Gross Book Value (GBV) of ground leases reached $6.9 billion in Q2'25, a significant increase from $0.3 billion at IPO[8] - Estimated Unrealized Capital Appreciation (UCA) grew to $9.1 billion in Q2'25, a substantial rise from $0.4 billion at IPO[8] - New ground lease originations in Q2'25 totaled $123 million, while new leasehold loan originations amounted to $97 million[8] - Multifamily assets constitute 58% of the portfolio by count, representing 41% of the GBV[19] Capital Structure and Liquidity - The company has $1.2 billion in cash and credit facility availability[5] - Total debt outstanding is $4.77 billion, with total equity at $2.40 billion, resulting in a debt-to-equity ratio of 1.98x[24] Portfolio Yields - The core ground lease portfolio has an economic yield of 5.8%[14] - The illustrative Caret adjusted yield is 7.5%[14]

Financial Performance - Revenues for Q1'25 reached $97.7 million, a 5% increase compared to $93.2 million in Q1'24 [11] - GAAP Net Income attributable to Safehold Inc common shareholders was $29.4 million in Q1'25, a 4% decrease from $30.7 million in Q1'24 [11] - Excluding non-recurring gains and losses, Net Income attributable to Safehold Inc common shareholders was $31.3 million in Q1'25, a 2% increase from $30.7 million in Q1'24 [11] - Earnings Per Share (EPS) on a GAAP basis decreased by 5% year-over-year, from $0.43 in Q1'24 to $0.41 in Q1'25, while EPS excluding non-recurring items increased by 1% from $0.43 to $0.44 [11] Portfolio and Investment Activity - The company's total portfolio aggregate GBV (Gross Book Value) is $6.8 billion, with an estimated Unrealized Capital Appreciation (UCA) of $8.9 billion [5] - The company has $1.3 billion available in cash and credit facility [5] - The company has $400 million remaining for a joint venture with a leading sovereign wealth fund ($220 million from SAFE, $180 million from the partner) [5] - The company's core ground lease portfolio has a gross book value of $6.8 billion with a weighted average lease term of 91 years [15] - The company's portfolio has grown significantly since its IPO, with a 20x increase in estimated UCA and a 20x increase in portfolio size [8] Portfolio Metrics and Diversification - The company's portfolio consists of 36.0 million square feet, including 17.7 million square feet in multifamily properties and 12.5 million square feet in office properties [9] - Multifamily assets account for 41% of the company's GBV, with an average rent coverage of 3.7x and a GLTV (Ground Lease to Value) of 38% [21] - Office assets account for 40% of the company's GBV, with an average rent coverage of 3.2x and a GLTV of 69% [21]