Ground lease REIT Safehold Q1 revenue beats estimates

Safehold

30/04/2026 21:37

Overview

US ground lease REIT's Q1 revenue beat analyst expectations

Q1 EPS was $0.40; net income attributable to shareholders reached $28.9 mln

Company closed $68 mln in new originations, including 3 ground leases and one leasehold loan

Outlook

Company did not provide specific financial guidance for the current quarter or full year

Result Drivers

NEW ORIGINATIONS - Closed $68 mln of new originations, including 3 ground leases and one leasehold loan in Q1

PIPELINE DEVELOPMENT - Management said it is encouraged by how the pipeline is developing, with non-binding LOIs totaling ~$255 mln

UCA GROWTH - Estimated Unrealized Capital Appreciation increased to $9.5 bln in Q1

Company press release: ID:nPn82dQLJa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
Beat
$110.90 mln
$98.31 mln (7 Analysts)
Q1 EPS
$0.40
Q1 Net Income
$28.90 mln


Analyst Coverage

The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 6 "strong buy" or "buy", 4 "hold" and 1 "sell" or "strong sell"

The average consensus recommendation for the diversified reits peer group is "buy"

Wall Street's median 12-month price target for Safehold Inc is $19.00, about 20.2% above its April 29 closing price of $15.81

The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 8 three months ago

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)