Safehold publishes Q3 2026 earnings call transcript
SAFE•Safehold reported third-quarter revenue of $118.7 million and earnings per share of $0.41, flat year over year. Ground lease originations totaled $38 million at a 7.3% economic yield.
1. Quarterly results
Safehold's third-quarter 2026 earnings call on November 3 featured CEO Jay Sugarman, President Michael Trachtenberg and CFO Brett Asnas. Revenue reached $118.7 million, while earnings per share remained flat year over year at $0.41.
2. Capital and originations
Ground lease originations totaled $38 million at a 7.3% economic yield, as interest-rate volatility delayed or disrupted transactions. Share repurchases continued into the fourth quarter, and management is pursuing private capital solutions rather than issuing stock at current levels.
3. Capital recycling
Asnas favored joint venture structures over outright asset sales to recycle capital. Leverage stood at 2.04 times.
