Benzinga | Jul 23, 2020 08:06AM EDT

Recap: Safehold Q2 Earnings

Shares of Safehold (NYSE:SAFE) moved higher by 0.1% in pre-market trading after the company reported Q2 results.

Quarterly Results

Earnings per share were up 33.33% over the past year to $0.24, which missed the estimate of $0.29.

Revenue of $37,400,000 up by 89.85% from the same period last year, which missed the estimate of $37,730,000.

Guidance

Earnings guidance hasn't been issued by the company for now.

Safehold hasn't issued any revenue guidance for the time being.

Recent Stock Performance

Company's 52-week high was at $67.18

52-week low: $26.61

Price action over last quarter: Up 10.45%

Company Description

Safehold Inc is a real estate company. It is formed primarily to acquire, own, manage, finance and capitalize ground net leases (GNLs). GNLs generally represent ownership of the land underlying commercial real estate projects that is net leased by the fee owner of the land to the owners/operators of the real estate projects built thereon. The company has a diverse initial portfolio that is comprised of over 34 properties located in major metropolitan areas that were acquired or originated by iStar.