NEW YORK–(BUSINESS WIRE)–Safehold Inc. (NYSE: SAFE) reported results for the fourth quarter and
fiscal year 2018.
In 2018, Safehold highlights include:
- Net income of $11.7 million or $0.64 per share
- Funds from Operations (FFO) of $20.9 million or $1.15 per share
Adjusted Funds from Operations (AFFO) of $11.4 million or $0.63 per
- New investments totaled $417 million
- Aggregate portfolio increased 79% to $948 million
- Expansion into 6 new markets
“We have nearly tripled the size of our portfolio since our IPO in June
2017 and are beginning to witness exciting momentum as we usher in a
revolutionary new era of commercial real estate ownership,” said Jay
Sugarman, Chairman and Chief Executive Officer of Safehold. “Our $250
million of fresh equity capital provides us with the necessary runway to
continue our growth into 2019.”
SAFE published a presentation detailing these results and a
reconciliation of its non-GAAP financial metrics, which can be found on
its new website, www.safeholdinc.com
in the “Investor Relations” section.
The Company will host an earnings conference call reviewing this
presentation beginning at 9:00 a.m. ET today. This conference call can
be accessed by all interested parties on the website (listen only) or by
dialing toll-free (844) 560-3084 (U.S. domestic) or (647) 253-8647
(international) using conference ID: 4794594.
For those who are not able to listen to the live broadcast, a replay
will be available shortly after the call on the website or by dialing
(800) 585-8367 (U.S. domestic) or (416) 621-4642 (international) using
the conference ID: 4794594.
Safehold Inc. (NYSE: SAFE) is revolutionizing real estate ownership by
providing a new and better way for owners to unlock the value of the
land beneath their buildings. Through its modern ground lease capital
solution, Safehold helps owners of high quality multifamily, office,
industrial, hospitality and mixed-use properties in major markets
throughout the United States generate higher returns with less risk. The
Company, which is taxed as a real estate investment trust (REIT) and is
managed by its largest shareholder, iStar Inc., seeks to deliver safe,
growing income and long-term capital appreciation to its shareholders.
Additional information on Safehold is available on its website at www.safeholdinc.com.
Jason Fooks, Vice President of Investor Relations & Marketing