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Companies / Real Estate / Safehold Inc.
SAFE

Safehold Inc.

Ticker SAFENEW YORK, NYFiscal year ends DecemberBook value per share $34.35Diluted shares 71.5M

Safehold Inc. (NYSE: SAFE) acquires, manages and capitalizes long-term ground leases on land beneath commercial real estate projects. Its tenants are generally the owners or operators of those properties, including developers, and typically pay property taxes, maintenance, insurance, operating costs and capital… From the company’s description.

Over the twelve months to Sep 30, 2026, Safehold Inc. reported revenue of $442.05M, up 16.5% from a year earlier, and net income of $118.90M. Its operating margin was 24.9%, and operations generated $43.84M in cash. In fiscal 2025, it reported revenue of $385.55M, up 5.4% from fiscal 2024, and net income of $114.63M.

Fiscal year 2025 · ends 12-31Changes are against fiscal 2024The amber dot is the latest twelve months, to 2026-09-30
Sales & profitability
$385.55MFY2025
+5.4% year over year
Last 12 mo $442.05M
26.17%FY2025
+2.4 percentage points
Last 12 mo 24.87%
$114.63MFY2025
+7.5% year over year
Last 12 mo $118.90M
4.75%FY2025
+0.2 percentage points
Last 12 mo 4.71%
Cash & financing
$47.81MFY2025
+26.3% year over year
Last 12 mo $43.84M
$47.81MFY2025
+26.3% year over year
Last 12 mo $43.84M
1.90FY2025
Was 1.84× a year earlier
Last 12 mo 1.95
71.8MFY2025
+0.5% year over year
Last 12 mo 71.5M

Margins and return on equity change in ; everything else in percent. Fewer shares and less debt are shown plainly, not as bad news — it depends what you make of buybacks. Dotted labels explain each measure. is shown separately from the annual figures.

What Safehold Inc. does

In the company’s own words

Safehold Inc. (NYSE: SAFE) acquires, manages and capitalizes long-term ground leases on land beneath commercial real estate projects. Its tenants are generally the owners or operators of those properties, including developers, and typically pay property taxes, maintenance, insurance, operating costs and capital expenditures under triple-net leases. Ground leases generally run for 30 to 99 years and include contractual rent increases; at lease expiration or certain earlier terminations, the land and improvements revert to Safehold. The company also originates leasehold loans and has interests in the Ground Lease Plus Fund and Leasehold Loan Fund, which support development projects and provide customers with combined ground lease and financing solutions. Safehold operates through one reportable segment, with a portfolio spanning property types and regions. As of December 31, 2025, its portfolio’s combined property value was approximately $15.9 billion, and it had 72 employees. Safehold was formed in 2023 when iStar merged with Old SAFE; iStar had first spun off its legacy non-ground-lease assets into Star Holdings. Its website is www.safeholdinc.com.

Company details
Sector
Real Estate
Industry (SIC)
REITs
Headquarters
NEW YORK, NY
Fiscal year end
December
CIK
1095651
SIC
6798

Financial performance, year by year

Fiscal 2011–2025 · USD
$-345.39M$-33.52M$278.35M$590.21M$902.08M201120122013201420152016201720182019202020212022202320242025Last 12 moLast 12 monthsLast 12 months

The full income statement, balance sheet and cash flow for each of these years — every figure traceable to its filing — is on the Financials tab with a free account.

Ownership

Who owns Safehold Inc. — and what changed

Funds as of 2026Q2 · superinvestors as of 2026-06-30

205
funds hold it
0 of 35
superinvestors hold it
$352.52M
held by funds, at market
32.1%
of shares held by funds

Largest fund holders · Safehold Inc.’s weight in each

iShares Core S&P Small-Cap ETF
IJR · iShares Trust
0.04%of fund net assets
T. Rowe Price Small-Cap Value Fund, Inc.
PRSVX · T. ROWE PRICE SMALL-CAP VALUE FUND, INC.
0.37%of fund net assets
VANGUARD REAL ESTATE INDEX FUND
VNQ · VANGUARD SPECIALIZED FUNDS
—of fund net assets
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.00%of fund net assets
iShares Russell 2000 ETF
IWM · iShares Trust
0.03%of fund net assets

Fund ownership is a floor, not a census — pensions, insurers and people holding shares directly are not visible here.

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Could not be determined for this company: bond issues.

Every fund and institutional holder, quarter by quarter, is on the Ownership tab with a free account.

Connected research

Put this business in context.

Compare this company with peers, find it in your funds and follow its financial history with your connected AI:

  • “How do Safehold Inc. and its peers compare on margins and cash generation over ten years?”
  • “Where did five years of Safehold Inc.'s earnings go — cash, debt, buybacks, reinvestment?”
  • “What changed in Safehold Inc.'s last four quarterly filings that the numbers alone won't show?”
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