$SAFE
Safehold Inc.

2023 Q4 Form 10-Q Financial Statement

#000109565123000012 Filed on November 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q4 2023 Q3
Revenue $103.0M $85.56M
YoY Change 240.27% 79.16%
Cost Of Revenue $1.434M $1.001M
YoY Change -92.88% -96.96%
Gross Profit $101.6M $84.56M
YoY Change 902.99% 468.47%
Gross Profit Margin 98.61% 98.83%
Selling, General & Admin $16.73M $17.90M
YoY Change 51.16% 25.09%
% of Gross Profit 16.46% 21.17%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.492M $2.500M
YoY Change 67.81% 93.8%
% of Gross Profit 2.45% 2.96%
Operating Expenses $19.63M $22.80M
YoY Change -47.35% 18.54%
Operating Profit $81.97M -$130.2M
YoY Change -401.88% 2887.89%
Interest Expense -$39.82M $46.55M
YoY Change -39.24% 105.41%
% of Operating Profit -48.58%
Other Income/Expense, Net $2.169M
YoY Change -48.0%
Pretax Income $42.59M -$122.8M
YoY Change -152.69% -763.16%
Income Tax $1.139M $55.00K
% Of Pretax Income 2.67%
Net Earnings $41.18M -$123.0M
YoY Change -147.5% -782.97%
Net Earnings / Revenue 39.97% -143.72%
Basic Earnings Per Share -$1.81
Diluted Earnings Per Share $0.58 -$1.81
COMMON SHARES
Basic Shares Outstanding 71.07M 63.97M
Diluted Shares Outstanding 67.98M

Balance Sheet

Concept 2023 Q4 2023 Q3
SHORT-TERM ASSETS
Cash & Short-Term Investments $18.76M $11.00M
YoY Change -98.7% -99.18%
Cash & Equivalents $18.76M $11.48M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $9.711M $7.000M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.651B $1.582B
YoY Change 14.14% 18.32%
LONG-TERM ASSETS
Property, Plant & Equipment $979.0K $1.078M
YoY Change -99.7% -99.7%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $310.3M $287.1M
YoY Change -77.19% -82.11%
Other Assets $221.4M $216.0M
YoY Change 2008.89% 972.39%
Total Long-Term Assets $4.898B $4.861B
YoY Change 171.03% 122.47%
TOTAL ASSETS
Total Short-Term Assets $1.651B $1.582B
Total Long-Term Assets $4.898B $4.861B
Total Assets $6.548B $6.443B
YoY Change 101.29% 82.93%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $103.8M $95.00M
YoY Change -8.99% -16.67%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $116.9M $108.0M
YoY Change 2.45% -5.27%
LONG-TERM LIABILITIES
Long-Term Debt $4.054B $3.938B
YoY Change 140.97% 134.31%
Other Long-Term Liabilities $81.38M $79.00M
YoY Change 173.94% 165.23%
Total Long-Term Liabilities $4.136B $4.017B
YoY Change 141.54% 134.84%
TOTAL LIABILITIES
Total Short-Term Liabilities $116.9M $108.0M
Total Long-Term Liabilities $4.136B $4.017B
Total Liabilities $4.253B $4.125B
YoY Change 132.85% 126.08%
SHAREHOLDERS EQUITY
Retained Earnings $47.58M $19.12M
YoY Change -102.32% -101.08%
Common Stock $711.0K $710.0K
YoY Change 717.24% 716.09%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.231B $2.264B
YoY Change
Total Liabilities & Shareholders Equity $6.548B $6.443B
YoY Change 101.29% 82.93%

Cashflow Statement

Concept 2023 Q4 2023 Q3
OPERATING ACTIVITIES
Net Income $41.18M -$123.0M
YoY Change -147.5% -782.97%
Depreciation, Depletion And Amortization $2.492M $2.500M
YoY Change 67.81% 93.8%
Cash From Operating Activities $23.06M $1.799M
YoY Change -28.59% -114.98%
INVESTING ACTIVITIES
Capital Expenditures $2.261M $10.80M
YoY Change -76.23% -224.5%
Acquisitions
YoY Change
Other Investing Activities -$124.4M -$83.31M
YoY Change -237.12% -192.37%
Cash From Investing Activities -$126.6M -$94.12M
YoY Change -255.98% -215.47%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 110.8M 89.36M
YoY Change -1978.95% -166.59%
NET CHANGE
Cash From Operating Activities 23.06M 1.799M
Cash From Investing Activities -126.6M -94.12M
Cash From Financing Activities 110.8M 89.36M
Net Change In Cash 7.279M -2.964M
YoY Change -93.23% -95.42%
FREE CASH FLOW
Cash From Operating Activities $23.06M $1.799M
Capital Expenditures $2.261M $10.80M
Free Cash Flow $20.80M -$9.001M
YoY Change -8.69% 170.06%

Facts In Submission

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CY2022Q4 us-gaap Stockholders Equity Including Portion Attributable To Noncontrolling Interest
StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
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safe Temporary Equity Caret Units Issued During Period Value
TemporaryEquityCaretUnitsIssuedDuringPeriodValue
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StraightLineRent
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NonCashInterestIncomeFromSalesTypeLeases
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safe Non Cash Interest Income From Sales Type Leases
NonCashInterestIncomeFromSalesTypeLeases
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safe Interest Expense Noncash
InterestExpenseNoncash
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safe Interest Expense Noncash
InterestExpenseNoncash
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PaymentstoOriginateAcquireSalesTypeLease
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ProceedsFundingsOnGroundLeaseReceivables
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safe Proceeds Fundings On Ground Lease Receivables
ProceedsFundingsOnGroundLeaseReceivables
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safe Payments For Deposits On Ground Lease Investments
PaymentsForDepositsOnGroundLeaseInvestments
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safe Payments For Deposits On Ground Lease Investments
PaymentsForDepositsOnGroundLeaseInvestments
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ProceedsFromIssuanceOfCommonStock
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us-gaap Proceeds From Issuance Of Common Stock
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us-gaap Payments Of Financing Costs
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safe Paymentsof Offering Costs
PaymentsofOfferingCosts
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safe Paymentsof Offering Costs
PaymentsofOfferingCosts
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us-gaap Payments Related To Tax Withholding For Share Based Compensation
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safe Proceeds From Sale Of Redeemable Noncontrolling Interest
ProceedsFromSaleOfRedeemableNoncontrollingInterest
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us-gaap Proceeds From Payments For Other Financing Activities
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us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
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us-gaap Net Cash Provided By Used In Financing Activities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
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CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
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CY2023Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q3 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q3 us-gaap Restricted Cash
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CY2022Q3 us-gaap Restricted Cash
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CY2023Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q3 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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us-gaap Dividends Cash
DividendsCash
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DebtObligationAccruedNonCashInterest
2014000
safe Non Cash Accrued Offering Costs
NonCashAccruedOfferingCosts
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us-gaap Number Of Reportable Segments
NumberOfReportableSegments
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CY2023Q1 safe Number Of Directors From Old Safe Entity On New Board
NumberOfDirectorsFromOldSafeEntityOnNewBoard
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CY2023Q1 safe Number Of Directors From Istar Entity On New Board
NumberOfDirectorsFromIstarEntityOnNewBoard
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CY2023Q1 safe Number Of Management Members From Both Old Safe Entity And Istar On New Board
NumberOfManagementMembersFromBothOldSafeEntityAndIstarOnNewBoard
2
CY2023Q1 safe Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Grants In Period Aggregate Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsGrantsInPeriodAggregateGrantDateFairValue
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CY2023Q1 safe Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsGrantsInPeriodWeightedAverageGrantDateFairValue
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CY2023Q1 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Award Vesting Period1
ShareBasedCompensationArrangementByShareBasedPaymentAwardAwardVestingPeriod1
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CY2023Q3 safe Number Of Taxable Reit Subsidiaries
NumberOfTaxableReitSubsidiaries
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FranchiseAndOtherStateAndLocalIncomeTaxExpenseBenefit
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CY2023Q3 us-gaap Financing Receivable Practical Expedient Accrued Interest Exclusion
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CY2023Q3 safe Reporting Unit Carrying Value
ReportingUnitCarryingValue
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CY2022Q3 safe Proceeds From Sale Of Held For Investment Lease
ProceedsFromSaleOfHeldForInvestmentLease
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CY2022Q3 safe Gain Loss On Sale Of Leases Held For Investment
GainLossOnSaleOfLeasesHeldForInvestment
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CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
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CY2022Q3 us-gaap Net Income Loss Attributable To Redeemable Noncontrolling Interest
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CY2023Q3 us-gaap Sales Type Lease Unguaranteed Residual Asset
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CY2022Q4 us-gaap Sales Type Lease Unguaranteed Residual Asset
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CY2023Q3 safe Presentvaluediscountonsalestypeleases
Presentvaluediscountonsalestypeleases
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CY2022Q4 safe Presentvaluediscountonsalestypeleases
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SalesTypeLeaseNetInvestmentInLeaseAllowanceForCreditLoss
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CY2023Q3 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
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CY2022Q4 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
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CY2023Q3 safe Sales Type Lease Net Investment In Lease Discounted
SalesTypeLeaseNetInvestmentInLeaseDiscounted
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CY2023Q3 safe Sales Type Lease Discounted Unguaranteed Residual Asset
SalesTypeLeaseDiscountedUnguaranteedResidualAsset
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CY2022Q4 safe Sales Type Lease Net Investment In Lease Discounted
SalesTypeLeaseNetInvestmentInLeaseDiscounted
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CY2022Q4 safe Sales Type Lease Discounted Unguaranteed Residual Asset
SalesTypeLeaseDiscountedUnguaranteedResidualAsset
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SalesTypeLeaseNetInvestmentInLease
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GroundLeaseReceivableNet
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GroundLeaseAcquisition
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OriginationAndAcquisitionOfLeaseandLeaseReceivablesDuringPeriod
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safe Salestype Lease Net Investmentin Lease Non Cash Interest Income
SalestypeLeaseNetInvestmentinLeaseNonCashInterestIncome
43061000
safe Ground Lease Non Cash Interest Income
GroundLeaseNonCashInterestIncome
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safe Noncash Accretion Amortizationof Interest Incomeon Leasesand Leases Receivable During Period
NoncashAccretionAmortizationofInterestIncomeonLeasesandLeasesReceivableDuringPeriod
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us-gaap Sales Type Lease Net Investment In Lease Allowance For Credit Loss Recovery
SalesTypeLeaseNetInvestmentInLeaseAllowanceForCreditLossRecovery
117000
safe Ground Lease Receivable Allowance For Credit Loss Recovery
GroundLeaseReceivableAllowanceForCreditLossRecovery
119000
CY2023Q3 safe Sales Type And Direct Financing Leases Lease Receivable Allowance For Credit Loss Recovery
SalesTypeAndDirectFinancingLeasesLeaseReceivableAllowanceForCreditLossRecovery
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CY2023Q3 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
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CY2023Q3 safe Ground Lease Receivable Net
GroundLeaseReceivableNet
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CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable
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CY2021Q4 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
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CY2021Q4 safe Ground Lease Receivable Net
GroundLeaseReceivableNet
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NetInvestmentInSalesTypeLeasesSales
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safe Origination And Acquisition Of Leaseand Lease Receivables During Period
OriginationAndAcquisitionOfLeaseandLeaseReceivablesDuringPeriod
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safe Salestype Lease Net Investmentin Lease Non Cash Interest Income
SalestypeLeaseNetInvestmentinLeaseNonCashInterestIncome
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safe Ground Lease Non Cash Interest Income
GroundLeaseNonCashInterestIncome
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safe Noncash Accretion Amortizationof Interest Incomeon Leasesand Leases Receivable During Period
NoncashAccretionAmortizationofInterestIncomeonLeasesandLeasesReceivableDuringPeriod
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CY2022Q3 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
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CY2022Q3 safe Ground Lease Receivable Net
GroundLeaseReceivableNet
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CY2022Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable
SalesTypeAndDirectFinancingLeasesLeaseReceivable
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CY2023Q3 safe Lease Receivable Weighted Average Accrual Rate Net Investmentin Salestype Lease
LeaseReceivableWeightedAverageAccrualRateNetInvestmentinSalestypeLease
0.051
CY2023Q3 safe Lease Receivable Weighted Average Accrual Rate Net Investmentin Ground Lease
LeaseReceivableWeightedAverageAccrualRateNetInvestmentinGroundLease
0.054
CY2023Q3 safe Numberof Ground Leasereceivables
NumberofGroundLeasereceivables
35
CY2023Q2 safe Sales Type Lease Net Investment In Lease Including Unfunded Commitments Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseIncludingUnfundedCommitmentsAllowanceForCreditLoss
337000
CY2023Q3 safe Sales Type Lease Net Investment In Lease Credit Loss Expense Reversal
SalesTypeLeaseNetInvestmentInLeaseCreditLossExpenseReversal
132000
CY2023Q3 safe Sales Type Lease Net Investment In Lease Including Unfunded Commitments Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseIncludingUnfundedCommitmentsAllowanceForCreditLoss
469000
CY2023Q2 safe Ground Lease Receivable Including Unfunded Commitments Allowance For Credit Loss
GroundLeaseReceivableIncludingUnfundedCommitmentsAllowanceForCreditLoss
281000
CY2023Q3 safe Ground Lease Receivable Credit Loss Expense Reversal
GroundLeaseReceivableCreditLossExpenseReversal
94000
CY2023Q3 safe Ground Lease Receivable Including Unfunded Commitments Allowance For Credit Loss
GroundLeaseReceivableIncludingUnfundedCommitmentsAllowanceForCreditLoss
375000
safe Sales Type Lease Net Investment In Lease Credit Loss Expense Reversal
SalesTypeLeaseNetInvestmentInLeaseCreditLossExpenseReversal
112000
CY2023Q3 safe Sales Type Lease Net Investment In Lease Including Unfunded Commitments Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseIncludingUnfundedCommitmentsAllowanceForCreditLoss
469000
safe Ground Lease Receivable Credit Loss Expense Reversal
GroundLeaseReceivableCreditLossExpenseReversal
92000
CY2023Q3 safe Allowance For Credit Losses On Ground Lease Receivables
AllowanceForCreditLossesOnGroundLeaseReceivables
375000
CY2023Q3 safe Sales Type Lease Net Investment In Lease Credit Loss Expense Reversal
SalesTypeLeaseNetInvestmentInLeaseCreditLossExpenseReversal
100000
CY2023Q3 safe Ground Lease Receivable Credit Loss Expense Reversal
GroundLeaseReceivableCreditLossExpenseReversal
100000
safe Sales Type Lease Net Investment In Lease Credit Loss Expense Reversal
SalesTypeLeaseNetInvestmentInLeaseCreditLossExpenseReversal
100000
safe Ground Lease Receivable Credit Loss Expense Reversal
GroundLeaseReceivableCreditLossExpenseReversal
100000
CY2023Q3 safe Ground Lease Receivable Year One Originated Current Fiscal Year
GroundLeaseReceivableYearOneOriginatedCurrentFiscalYear
19005000
CY2023Q3 safe Ground Lease Receivable Year Two Originated Fiscal Year Before Current Fiscal Year
GroundLeaseReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
640820000
CY2023Q3 safe Ground Lease Receivable Year Three Originated Two Years Before Current Fiscal Year
GroundLeaseReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
276334000
CY2023Q3 safe Ground Lease Receivable Year Four Originated Three Years Before Current Fiscal Year
GroundLeaseReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
179914000
CY2023Q3 safe Ground Lease Receivable Year Five Originated Four Years Before Current Fiscal Year
GroundLeaseReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
447915000
CY2023Q3 safe Ground Lease Receivable
GroundLeaseReceivable
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CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Remainder Of Fiscal Year
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedRemainderOfFiscalYear
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CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
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CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
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106476000
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
108464000
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
110400000
CY2023Q3 safe Sales Type And Direct Financing Leases Lease Receivable To Be Received After Year Four
SalesTypeAndDirectFinancingLeasesLeaseReceivableToBeReceivedAfterYearFour
29260498000
CY2023Q3 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
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CY2023Q3 us-gaap Sales Type Lease Interest Income
SalesTypeLeaseInterestIncome
59130000
CY2022Q3 us-gaap Sales Type Lease Interest Income
SalesTypeLeaseInterestIncome
54736000
us-gaap Sales Type Lease Interest Income
SalesTypeLeaseInterestIncome
174350000
us-gaap Sales Type Lease Interest Income
SalesTypeLeaseInterestIncome
146014000
CY2023Q3 us-gaap Land And Land Improvements
LandAndLandImprovements
551339000
CY2022Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
547739000
CY2023Q3 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
193232000
CY2022Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
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CY2023Q3 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
38892000
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
34371000
CY2023Q3 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
705679000
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
706600000
CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
212771000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
217795000
CY2023Q3 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
7216000
CY2023Q3 safe Real Estate Investment Property Including Finite Lived Intangible Assets Net
RealEstateInvestmentPropertyIncludingFiniteLivedIntangibleAssetsNet
925666000
CY2022Q4 safe Real Estate Investment Property Including Finite Lived Intangible Assets Net
RealEstateInvestmentPropertyIncludingFiniteLivedIntangibleAssetsNet
924395000
CY2023Q3 us-gaap Real Estate Heldforsale
RealEstateHeldforsale
7200000
safe Real Estate Available For Sale Sale Or Disposal
RealEstateAvailableForSaleSaleOrDisposal
1500000
CY2023Q3 safe Real Estate Available For Sale Sale Or Disposal
RealEstateAvailableForSaleSaleOrDisposal
1500000
CY2023Q3 safe Gain Loss On Sale Of Real Estate Available And Held For Sale
GainLossOnSaleOfRealEstateAvailableAndHeldForSale
100000
CY2023Q3 safe Gain Loss On Sale Of Real Estate Available And Held For Sale
GainLossOnSaleOfRealEstateAvailableAndHeldForSale
100000
CY2023Q3 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
252097000
CY2023Q3 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2023Q3 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
212771000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
252097000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
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CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
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CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
1658000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
6634000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6634000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3725000
CY2023Q3 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3725000
CY2023Q3 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P80Y3M18D
CY2023Q3 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
68618000
CY2023Q3 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
4655000
CY2023Q3 us-gaap Below Market Lease Net
BelowMarketLeaseNet
63963000
CY2022Q4 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
68618000
CY2022Q4 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
4027000
CY2022Q4 us-gaap Below Market Lease Net
BelowMarketLeaseNet
64591000
safe Amortization Of Real Estate Related Intangible Liabilities
AmortizationOfRealEstateRelatedIntangibleLiabilities
2023000
safe Amortization Of Real Estate Related Intangible Liabilities
AmortizationOfRealEstateRelatedIntangibleLiabilities
2022000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
9235000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
37174000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
37567000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
27945000
CY2023Q3 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
28361000
CY2023Q3 safe Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
5192405000
CY2023Q3 us-gaap Equity Method Investments
EquityMethodInvestments
287118000
CY2022Q4 us-gaap Equity Method Investments
EquityMethodInvestments
180388000
CY2023Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
7451000
CY2022Q3 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2244000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
16520000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
6772000
CY2023Q3 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
34981000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
26312000
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
92616000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
29346000
CY2023Q3 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
5031000
CY2022Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
4461000
CY2023Q3 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
15619000
CY2022Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
2664000
CY2023Q3 us-gaap Deposit Assets
DepositAssets
3373000
CY2022Q4 us-gaap Deposit Assets
DepositAssets
4333000
CY2023Q3 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
441000
CY2022Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
448000
CY2023Q3 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1078000
CY2023Q3 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
153139000
CY2022Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
67564000
CY2023Q3 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.055
CY2023Q3 us-gaap Accumulated Amortization Of Current Deferred Finance Costs
AccumulatedAmortizationOfCurrentDeferredFinanceCosts
9700000
CY2022Q4 us-gaap Accumulated Amortization Of Current Deferred Finance Costs
AccumulatedAmortizationOfCurrentDeferredFinanceCosts
5700000
CY2023Q3 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
63232000
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
55459000
CY2023Q3 us-gaap Other Liabilities
OtherLiabilities
14671000
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
17639000
CY2023Q3 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
12907000
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
11067000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
17047000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5471000
CY2022Q4 us-gaap Management Fee Payable
ManagementFeePayable
5301000
CY2023Q3 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
15129000
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
5420000
CY2023Q3 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
122986000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
100357000
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3980114000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3565101000
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
42287000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
43742000
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
3937827000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
3521359000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1003000000
CY2023Q3 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
237000000
CY2023Q3 safe Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
2740114000
CY2023Q3 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3980114000
CY2023Q3 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
42287000
CY2023Q3 us-gaap Long Term Debt
LongTermDebt
3937827000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
1422000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5692000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5680000
CY2023Q3 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
12794000
CY2023Q3 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1112000
CY2023Q3 safe Lessee Operating Lease Liability Other Adjustments
LesseeOperatingLeaseLiabilityOtherAdjustments
5365000
CY2023Q3 us-gaap Operating Lease Liability
OperatingLeaseLiability
17047000
CY2023Q3 safe Lessee Operating Lease Discount Rate Office Leases
LesseeOperatingLeaseDiscountRateOfficeLeases
0.058
CY2023Q3 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P2Y10M24D
CY2023Q3 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
1400000
us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
2900000
CY2023Q3 safe Lessee Operating Lease Liability Other Adjustments Annual Amount Due Lessor
LesseeOperatingLeaseLiabilityOtherAdjustmentsAnnualAmountDueLessor
500000
CY2023Q3 safe Real Estate Leasehold Improvement Allowance Unfunded Pending Milestone Achievement
RealEstateLeaseholdImprovementAllowanceUnfundedPendingMilestoneAchievement
190600000
CY2023Q3 safe Long Term Purchase Commitment Future Funding Obligation Amount
LongTermPurchaseCommitmentFutureFundingObligationAmount
283600000
CY2023Q3 safe Performance Based Commitments
PerformanceBasedCommitments
118900000
CY2023Q3 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
92616000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
29346000
us-gaap Cash Flow Hedge Gain Loss To Be Reclassified Within Twelve Months
CashFlowHedgeGainLossToBeReclassifiedWithinTwelveMonths
5800000
CY2023Q3 safe Number Of Classes Of Common Stock
NumberOfClassesOfCommonStock
1
CY2023Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.01
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
35300000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.531
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
32500000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.524
CY2023Q3 us-gaap Profit Loss
ProfitLoss
-122846000
CY2022Q3 us-gaap Profit Loss
ProfitLoss
75391000
us-gaap Profit Loss
ProfitLoss
-96019000
us-gaap Profit Loss
ProfitLoss
123009000
CY2023Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
123000
CY2022Q3 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9314000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
138000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
9381000
CY2023Q3 us-gaap Net Income Loss
NetIncomeLoss
-122969000
CY2022Q3 us-gaap Net Income Loss
NetIncomeLoss
66077000
us-gaap Net Income Loss
NetIncomeLoss
-96157000
us-gaap Net Income Loss
NetIncomeLoss
113628000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-122969000
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
66077000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-96157000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
113628000
CY2023Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-122969000
CY2022Q3 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
66077000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
-96157000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
113628000
CY2023Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
67979000
CY2022Q3 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63393000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
65214000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61991000
CY2023Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
67979000
CY2022Q3 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63393000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
65214000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61991000
CY2023Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.81
CY2022Q3 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.04
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.47
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
1.83
CY2023Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.81
CY2022Q3 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.04
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.47
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
1.83
CY2022Q1 safe Number Of New Ground Leases
NumberOfNewGroundLeases
3
CY2023Q3 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q3 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q3 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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safe-20230930.xsd Edgar Link pending
safe-20230930x10q.htm Edgar Link pending
safe-20230930xex22d1.htm Edgar Link pending
safe-20230930xex31d0.htm Edgar Link pending
safe-20230930xex32d0.htm Edgar Link pending
Show.js Edgar Link pending
safe-20230930_def.xml Edgar Link unprocessable
safe-20230930_cal.xml Edgar Link unprocessable
safe-20230930_lab.xml Edgar Link unprocessable
safe-20230930_pre.xml Edgar Link unprocessable
safe-20230930x10q_htm.xml Edgar Link completed