Overview

* Real estate investment trust Safehold Q2 revenue of $93.8 mln missed analyst expectations, per LSEG data

* Company closed $220 mln of originations, including ground leases and leasehold loans

* Estimated Unrealized Capital Appreciation increased to $9.1 bln

Result Drivers

* ORIGINATIONS - Closed $220 mln of originations, including ground leases and leasehold loans

* CUSTOMER ENGAGEMENT - Co noted increasing customer engagement as a positive driver

* CAPITAL APPRECIATION - Estimated Unrealized Capital Appreciation rose to $9.1 bln

Key Details

Metric Beat/Mis Actual Consensu

s s

Estimate

Q2 Miss $93.80 $94.10

Revenue mln mln (6

Analysts

)

Q2 EPS $0.39

Q2 Net $27.90

Income 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 no "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 ( SAFE ) is $21.00, about 32.6% above its August 4 closing price of $14.15

* The stock recently traded at 9 times the next 12-month earnings vs. a P/E of 10 three months ago

Press Release:

(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.)