$SAFE
Safehold Inc.

2023 Q3 Form 10-Q Financial Statement

#000155837023012762 Filed on August 01, 2023

View on sec.gov

Income Statement

Concept 2023 Q3 2023 Q2 2022 Q2
Revenue $85.56M $85.66M $48.06M
YoY Change 79.16% 78.23% -11.41%
Cost Of Revenue $1.001M $1.013M $36.81M
YoY Change -96.96% -97.25% -12.19%
Gross Profit $84.56M $84.65M $11.25M
YoY Change 468.47% 652.29% -8.77%
Gross Profit Margin 98.83% 98.82% 23.41%
Selling, General & Admin $17.90M $18.90M -$4.879M
YoY Change 25.09% -487.37% -116.16%
% of Gross Profit 21.17% 22.33% -43.36%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.500M $2.500M $1.338M
YoY Change 93.8% 86.85% -90.85%
% of Gross Profit 2.96% 2.95% 11.89%
Operating Expenses $22.80M $22.20M $20.66M
YoY Change 18.54% 7.46% -33.36%
Operating Profit -$130.2M $15.83M -$9.407M
YoY Change 2887.89% -268.27% -49.6%
Interest Expense $46.55M $46.06M $24.15M
YoY Change 105.41% 90.71% -15.68%
% of Operating Profit 290.95%
Other Income/Expense, Net $2.169M $1.274M $1.523M
YoY Change -48.0% -16.35% 621.8%
Pretax Income -$122.8M $22.64M -$132.5M
YoY Change -763.16% -117.08% 266.9%
Income Tax $55.00K $525.0K $0.00
% Of Pretax Income 2.32%
Net Earnings -$123.0M $22.13M -$132.6M
YoY Change -782.97% -116.69% 870.16%
Net Earnings / Revenue -143.72% 25.83% -275.91%
Basic Earnings Per Share -$1.81 $0.35 -$1.70
Diluted Earnings Per Share -$1.81 $0.35 -$1.70
COMMON SHARES
Basic Shares Outstanding 63.97M 63.94M 81.44M
Diluted Shares Outstanding 67.98M 63.94M 81.44M

Balance Sheet

Concept 2023 Q3 2023 Q2 2022 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $11.00M $14.00M $1.401B
YoY Change -99.18% -99.0% 803.99%
Cash & Equivalents $11.48M $14.28M $1.401B
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory $7.000M $1.970M
Prepaid Expenses
Receivables
Other Receivables
Total Short-Term Assets $1.582B $1.499B $1.403B
YoY Change 18.32% 6.87% 451.91%
LONG-TERM ASSETS
Property, Plant & Equipment $1.078M $1.187M $401.7M
YoY Change -99.7% -99.7% -83.38%
Goodwill $149.5M
YoY Change
Intangibles
YoY Change
Long-Term Investments $287.1M $267.2M $1.557B
YoY Change -82.11% -82.84% 22.01%
Other Assets $216.0M $251.0M $19.84M
YoY Change 972.39% 1164.99% -89.0%
Total Long-Term Assets $4.861B $4.920B $2.208B
YoY Change 122.47% 122.83% -51.08%
TOTAL ASSETS
Total Short-Term Assets $1.582B $1.499B $1.403B
Total Long-Term Assets $4.861B $4.920B $2.208B
Total Assets $6.443B $6.419B $3.611B
YoY Change 82.93% 77.78% -24.27%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable
YoY Change
Accrued Expenses $95.00M $92.00M $113.7M
YoY Change -16.67% -19.06% -39.14%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $108.0M $103.0M $113.7M
YoY Change -5.27% -9.39% -60.5%
LONG-TERM LIABILITIES
Long-Term Debt $3.938B $3.982B $1.833B
YoY Change 134.31% 117.21% -45.12%
Other Long-Term Liabilities $79.00M $80.00M $32.84M
YoY Change 165.23% 143.64% -74.89%
Total Long-Term Liabilities $4.017B $4.062B $1.866B
YoY Change 134.84% 117.67% -46.24%
TOTAL LIABILITIES
Total Short-Term Liabilities $108.0M $103.0M $113.7M
Total Long-Term Liabilities $4.017B $4.062B $1.866B
Total Liabilities $4.125B $4.166B $1.980B
YoY Change 126.08% 110.45% -47.33%
SHAREHOLDERS EQUITY
Retained Earnings $19.12M $154.8M -$1.774B
YoY Change -101.08% -108.73% -24.13%
Common Stock $710.0K $639.0K $84.00K
YoY Change 716.09% 660.71% 16.67%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $2.264B $2.199B $1.615B
YoY Change
Total Liabilities & Shareholders Equity $6.443B $6.419B $3.611B
YoY Change 82.93% 77.78% -24.27%

Cashflow Statement

Concept 2023 Q3 2023 Q2 2022 Q2
OPERATING ACTIVITIES
Net Income -$123.0M $22.13M -$132.6M
YoY Change -782.97% -116.69% 870.16%
Depreciation, Depletion And Amortization $2.500M $2.500M $1.338M
YoY Change 93.8% 86.85% -90.85%
Cash From Operating Activities $1.799M -$2.657M $58.00M
YoY Change -114.98% -104.58% -240.92%
INVESTING ACTIVITIES
Capital Expenditures $10.80M -$11.28M
YoY Change -224.5% -77.37%
Acquisitions
YoY Change
Other Investing Activities -$83.31M -$85.89M $218.5M
YoY Change -192.37% -139.3% 127.06%
Cash From Investing Activities -$94.12M -$85.89M $207.3M
YoY Change -215.47% -141.44% 346.88%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 89.36M 82.69M -410.6M
YoY Change -166.59% -120.14% 818.59%
NET CHANGE
Cash From Operating Activities 1.799M -2.657M 58.00M
Cash From Investing Activities -94.12M -85.89M 207.3M
Cash From Financing Activities 89.36M 82.69M -410.6M
Net Change In Cash -2.964M -5.864M -145.4M
YoY Change -95.42% -95.97% 268.14%
FREE CASH FLOW
Cash From Operating Activities $1.799M -$2.657M $58.00M
Capital Expenditures $10.80M -$11.28M
Free Cash Flow -$9.001M $69.29M
YoY Change 170.06% 695.8%

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CY2022Q2 safe Issuance Of Stock And Restricted Stock Unit Amortization Net
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IssuanceOfStockAndRestrictedStockUnitAmortizationNet
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OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
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safe Temporary Equity Caret Units Issued During Period Value
TemporaryEquityCaretUnitsIssuedDuringPeriodValue
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RedeemableNoncontrollingInterestEquityCarryingAmount
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us-gaap Profit Loss
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ShareBasedCompensation
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StraightLineRent
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us-gaap Straight Line Rent
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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AmortizationOfAboveAndBelowMarketLeases
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us-gaap Amortization Of Above And Below Market Leases
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ManagementFeeExpense
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us-gaap Increase Decrease In Accounts Payable And Accrued Liabilities
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safe Paymentsto Originate Acquire Sales Type Lease
PaymentstoOriginateAcquireSalesTypeLease
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safe Paymentsto Originate Acquire Sales Type Lease
PaymentstoOriginateAcquireSalesTypeLease
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PaymentsToAcquireNotesReceivable
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CashAcquiredFromAcquisition
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PaymentsToAcquireEquityMethodInvestments
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safe Proceeds Fundings On Ground Lease Receivables
ProceedsFundingsOnGroundLeaseReceivables
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safe Proceeds Fundings On Ground Lease Receivables
ProceedsFundingsOnGroundLeaseReceivables
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us-gaap Proceeds From Sale Of Real Estate Heldforinvestment
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safe Payments For Deposits On Ground Lease Investments
PaymentsForDepositsOnGroundLeaseInvestments
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Payments For Proceeds From Other Investing Activities
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us-gaap Net Cash Provided By Used In Investing Activities
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us-gaap Repayments Of Secured Debt
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us-gaap Repayments Of Secured Debt
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us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
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PaymentsOfDividends
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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
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
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us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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us-gaap Payments To Minority Shareholders
PaymentsToMinorityShareholders
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ProceedsFromMinorityShareholders
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us-gaap Proceeds From Minority Shareholders
ProceedsFromMinorityShareholders
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safe Proceeds From Sale Of Redeemable Noncontrolling Interest
ProceedsFromSaleOfRedeemableNoncontrollingInterest
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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
NetCashProvidedByUsedInFinancingActivities
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us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
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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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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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CY2023Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
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CY2023Q2 us-gaap Restricted Cash
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CY2022Q2 us-gaap Restricted Cash
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CY2023Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
42425000
CY2022Q2 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
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DebtObligationAccruedNonCashInterest
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safe Non Cash Accrued Financing Costs
NonCashAccruedFinancingCosts
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safe Non Cash Accrued Offering Costs
NonCashAccruedOfferingCosts
327000
safe Non Cash Accrued Offering Costs
NonCashAccruedOfferingCosts
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us-gaap Number Of Reportable Segments
NumberOfReportableSegments
1
CY2023Q1 safe Number Of Directors From Old Safe Entity On New Board
NumberOfDirectorsFromOldSafeEntityOnNewBoard
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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
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CY2023Q2 safe Number Of Taxable Reit Subsidiaries
NumberOfTaxableReitSubsidiaries
2
CY2023Q2 us-gaap Current Federal Tax Expense Benefit
CurrentFederalTaxExpenseBenefit
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CY2023Q2 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
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CY2023Q2 safe Franchise And Other State And Local Income Tax Expense Benefit
FranchiseAndOtherStateAndLocalIncomeTaxExpenseBenefit
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CY2023Q2 us-gaap Financing Receivable Practical Expedient Accrued Interest Exclusion
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CY2022Q2 safe Business Acquisitions Pro Forma Extinguishment Of Debt
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CY2021Q4 safe Ground Lease Receivable Net
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safe Ground Lease Acquisition
GroundLeaseAcquisition
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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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CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Undiscounted Excess Amount
SalesTypeAndDirectFinancingLeasesLeaseReceivableUndiscountedExcessAmount
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CY2022Q4 us-gaap Sales Type And Direct Financing Leases Lease Receivable Undiscounted Excess Amount
SalesTypeAndDirectFinancingLeasesLeaseReceivableUndiscountedExcessAmount
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CY2023Q2 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
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CY2022Q4 us-gaap Sales Type Lease Unguaranteed Residual Asset
SalesTypeLeaseUnguaranteedResidualAsset
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CY2023Q2 safe Presentvaluediscountonsalestypeleases
Presentvaluediscountonsalestypeleases
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CY2022Q4 safe Presentvaluediscountonsalestypeleases
Presentvaluediscountonsalestypeleases
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SalesTypeLeaseNetInvestmentInLeaseAllowanceForCreditLoss
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CY2023Q2 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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CY2023Q1 us-gaap Sales Type Lease Net Investment In Lease
SalesTypeLeaseNetInvestmentInLease
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CY2023Q1 safe Ground Lease Receivable Net
GroundLeaseReceivableNet
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CY2023Q1 us-gaap Sales Type And Direct Financing Leases Lease Receivable
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CY2023Q2 us-gaap Sales Type Lease Net Investment In Lease Purchase
SalesTypeLeaseNetInvestmentInLeasePurchase
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CY2023Q2 safe Ground Lease Acquisition
GroundLeaseAcquisition
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CY2023Q2 safe Origination And Acquisition Of Leaseand Lease Receivables During Period
OriginationAndAcquisitionOfLeaseandLeaseReceivablesDuringPeriod
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CY2023Q2 safe Salestype Lease Net Investmentin Lease Non Cash Interest Income
SalestypeLeaseNetInvestmentinLeaseNonCashInterestIncome
28579000
CY2023Q2 safe Ground Lease Non Cash Interest Income
GroundLeaseNonCashInterestIncome
12505000
CY2023Q2 safe Noncash Accretion Amortizationof Interest Incomeon Leasesand Leases Receivable During Period
NoncashAccretionAmortizationofInterestIncomeonLeasesandLeasesReceivableDuringPeriod
41084000
CY2023Q2 us-gaap Sales Type Lease Net Investment In Lease Allowance For Credit Loss Recovery
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CY2023Q2 safe Ground Lease Receivable Allowance For Credit Loss Recovery
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CY2023Q2 safe Sales Type And Direct Financing Leases Lease Receivable Allowance For Credit Loss Recovery
SalesTypeAndDirectFinancingLeasesLeaseReceivableAllowanceForCreditLossRecovery
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CY2023Q2 us-gaap Sales Type Lease Net Investment In Lease
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CY2023Q2 safe Ground Lease Receivable Net
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SalesTypeLeaseNetInvestmentInLease
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CY2022Q2 safe Ground Lease Receivable Net
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CY2023Q2 safe Lease Receivable Weighted Average Accrual Rate Net Investmentin Salestype Lease
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CY2023Q2 safe Lease Receivable Weighted Average Accrual Rate Net Investmentin Ground Lease
LeaseReceivableWeightedAverageAccrualRateNetInvestmentinGroundLease
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CY2023Q2 safe Numberof Ground Leasereceivables
NumberofGroundLeasereceivables
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CY2023Q1 safe Sales Type Lease Net Investment In Lease Including Unfunded Commitments Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseIncludingUnfundedCommitmentsAllowanceForCreditLoss
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CY2023Q2 safe Sales Type Lease Net Investment In Lease Credit Loss Expense Reversal
SalesTypeLeaseNetInvestmentInLeaseCreditLossExpenseReversal
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CY2023Q2 safe Sales Type Lease Net Investment In Lease Including Unfunded Commitments Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseIncludingUnfundedCommitmentsAllowanceForCreditLoss
337000
CY2023Q1 safe Ground Lease Receivable Including Unfunded Commitments Allowance For Credit Loss
GroundLeaseReceivableIncludingUnfundedCommitmentsAllowanceForCreditLoss
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CY2023Q2 safe Ground Lease Receivable Credit Loss Expense Reversal
GroundLeaseReceivableCreditLossExpenseReversal
23000
CY2023Q2 safe Ground Lease Receivable Including Unfunded Commitments Allowance For Credit Loss
GroundLeaseReceivableIncludingUnfundedCommitmentsAllowanceForCreditLoss
281000
safe Sales Type Lease Net Investment In Lease Credit Loss Expense Reversal
SalesTypeLeaseNetInvestmentInLeaseCreditLossExpenseReversal
-20000
CY2023Q2 safe Sales Type Lease Net Investment In Lease Including Unfunded Commitments Allowance For Credit Loss
SalesTypeLeaseNetInvestmentInLeaseIncludingUnfundedCommitmentsAllowanceForCreditLoss
337000
safe Ground Lease Receivable Credit Loss Expense Reversal
GroundLeaseReceivableCreditLossExpenseReversal
-2000
CY2023Q2 safe Allowance For Credit Losses On Ground Lease Receivables
AllowanceForCreditLossesOnGroundLeaseReceivables
281000
CY2023Q1 safe Sales Type Lease Net Investment In Lease Credit Loss Expense Reversal
SalesTypeLeaseNetInvestmentInLeaseCreditLossExpenseReversal
11000
CY2023Q2 safe Ground Lease Receivable Credit Loss Expense Reversal
GroundLeaseReceivableCreditLossExpenseReversal
23000
safe Sales Type Lease Net Investment In Lease Credit Loss Expense Reversal
SalesTypeLeaseNetInvestmentInLeaseCreditLossExpenseReversal
-20000
safe Ground Lease Receivable Credit Loss Expense Reversal
GroundLeaseReceivableCreditLossExpenseReversal
-2000
CY2023Q2 safe Ground Lease Receivable Year One Originated Current Fiscal Year
GroundLeaseReceivableYearOneOriginatedCurrentFiscalYear
1000
CY2023Q2 safe Ground Lease Receivable Year Two Originated Fiscal Year Before Current Fiscal Year
GroundLeaseReceivableYearTwoOriginatedFiscalYearBeforeCurrentFiscalYear
587359000
CY2023Q2 safe Ground Lease Receivable Year Three Originated Two Years Before Current Fiscal Year
GroundLeaseReceivableYearThreeOriginatedTwoYearsBeforeCurrentFiscalYear
272987000
CY2023Q2 safe Ground Lease Receivable Year Four Originated Three Years Before Current Fiscal Year
GroundLeaseReceivableYearFourOriginatedThreeYearsBeforeCurrentFiscalYear
179092000
CY2023Q2 safe Ground Lease Receivable Year Five Originated Four Years Before Current Fiscal Year
GroundLeaseReceivableYearFiveOriginatedFourYearsBeforeCurrentFiscalYear
445730000
CY2023Q2 safe Ground Lease Receivable
GroundLeaseReceivable
1485169000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Remainder Of Fiscal Year
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedRemainderOfFiscalYear
50750000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Next Twelve Months
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedNextTwelveMonths
104481000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Two Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedTwoYears
106476000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Three Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedThreeYears
108464000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received Four Years
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceivedFourYears
110400000
CY2023Q2 safe Sales Type And Direct Financing Leases Lease Receivable To Be Received After Year Four
SalesTypeAndDirectFinancingLeasesLeaseReceivableToBeReceivedAfterYearFour
29260498000
CY2023Q2 us-gaap Sales Type And Direct Financing Leases Lease Receivable Payments To Be Received
SalesTypeAndDirectFinancingLeasesLeaseReceivablePaymentsToBeReceived
29741069000
CY2023Q2 us-gaap Sales Type Lease Interest Income
SalesTypeLeaseInterestIncome
58158000
CY2022Q2 us-gaap Sales Type Lease Interest Income
SalesTypeLeaseInterestIncome
48247000
us-gaap Sales Type Lease Interest Income
SalesTypeLeaseInterestIncome
115220000
us-gaap Sales Type Lease Interest Income
SalesTypeLeaseInterestIncome
91278000
CY2023Q2 us-gaap Land And Land Improvements
LandAndLandImprovements
547739000
CY2022Q4 us-gaap Land And Land Improvements
LandAndLandImprovements
547739000
CY2023Q2 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
193232000
CY2022Q4 us-gaap Investment Building And Building Improvements
InvestmentBuildingAndBuildingImprovements
193232000
CY2023Q2 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
37385000
CY2022Q4 us-gaap Real Estate Investment Property Accumulated Depreciation
RealEstateInvestmentPropertyAccumulatedDepreciation
34371000
CY2023Q2 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
703586000
CY2022Q4 us-gaap Real Estate Investment Property Net
RealEstateInvestmentPropertyNet
706600000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
214446000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
217795000
CY2023Q2 safe Real Estate Investment Property Including Finite Lived Intangible Assets Net
RealEstateInvestmentPropertyIncludingFiniteLivedIntangibleAssetsNet
918032000
CY2022Q4 safe Real Estate Investment Property Including Finite Lived Intangible Assets Net
RealEstateInvestmentPropertyIncludingFiniteLivedIntangibleAssetsNet
924395000
CY2023Q2 safe Real Estate Available And Held For Sale Residential
RealEstateAvailableAndHeldForSaleResidential
1500000
CY2023Q2 safe Gain Loss On Sale Of Real Estate Available And Held For Sale
GainLossOnSaleOfRealEstateAvailableAndHeldForSale
100000
CY2023Q2 safe Gain Loss On Sale Of Real Estate Available And Held For Sale
GainLossOnSaleOfRealEstateAvailableAndHeldForSale
100000
CY2023Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
252097000
CY2023Q2 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
37651000
CY2023Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
214446000
CY2022Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
252097000
CY2022Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
34302000
CY2022Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
217795000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
3333000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextTwelveMonths
6634000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseYearTwo
6634000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseYearThree
3725000
CY2023Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseYearFour
3725000
CY2023Q2 us-gaap Finite Lived Intangible Asset Useful Life
FiniteLivedIntangibleAssetUsefulLife
P80Y2M12D
CY2023Q2 us-gaap Below Market Lease Gross
BelowMarketLeaseGross
68618000
CY2023Q2 us-gaap Below Market Lease Accumulated Amortization
BelowMarketLeaseAccumulatedAmortization
4446000
CY2023Q2 us-gaap Below Market Lease Net
BelowMarketLeaseNet
64172000
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
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Remainder Of Fiscal Year
LessorOperatingLeasePaymentsToBeReceivedRemainderOfFiscalYear
18432000
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Next Twelve Months
LessorOperatingLeasePaymentsToBeReceivedNextTwelveMonths
37174000
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Two Years
LessorOperatingLeasePaymentsToBeReceivedTwoYears
37567000
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Three Years
LessorOperatingLeasePaymentsToBeReceivedThreeYears
27945000
CY2023Q2 us-gaap Lessor Operating Lease Payments To Be Received Four Years
LessorOperatingLeasePaymentsToBeReceivedFourYears
28361000
CY2023Q2 safe Lessor Operating Lease Payment To Be Received After Year Four
LessorOperatingLeasePaymentToBeReceivedAfterYearFour
5192405000
CY2023Q2 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
36015000
CY2022Q4 us-gaap Operating Lease Right Of Use Asset
OperatingLeaseRightOfUseAsset
26312000
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
41690000
CY2022Q4 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
29346000
CY2023Q2 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
6371000
CY2022Q4 us-gaap Debt Issuance Costs Line Of Credit Arrangements Net
DebtIssuanceCostsLineOfCreditArrangementsNet
4461000
CY2023Q2 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
16046000
CY2022Q4 us-gaap Other Deferred Costs Net
OtherDeferredCostsNet
2664000
CY2023Q2 us-gaap Deposit Assets
DepositAssets
4333000
CY2022Q4 us-gaap Deposit Assets
DepositAssets
4333000
CY2023Q2 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
444000
CY2022Q4 us-gaap Deferred Costs Leasing Net
DeferredCostsLeasingNet
448000
CY2023Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
1187000
CY2023Q2 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
106086000
CY2022Q4 us-gaap Deferred Costs And Other Assets
DeferredCostsAndOtherAssets
67564000
CY2023Q2 us-gaap Lessee Operating Lease Discount Rate
LesseeOperatingLeaseDiscountRate
0.055
CY2023Q2 us-gaap Accumulated Amortization Of Current Deferred Finance Costs
AccumulatedAmortizationOfCurrentDeferredFinanceCosts
8300000
CY2022Q4 us-gaap Accumulated Amortization Of Current Deferred Finance Costs
AccumulatedAmortizationOfCurrentDeferredFinanceCosts
5700000
CY2023Q2 safe Management Fee Receivable
ManagementFeeReceivable
7200000
CY2023Q2 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
63209000
CY2022Q4 us-gaap Interest Payable Current And Noncurrent
InterestPayableCurrentAndNoncurrent
55459000
CY2023Q2 us-gaap Other Liabilities
OtherLiabilities
16182000
CY2022Q4 us-gaap Other Liabilities
OtherLiabilities
17639000
CY2023Q2 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
11496000
CY2022Q4 us-gaap Dividends Payable Current And Noncurrent
DividendsPayableCurrentAndNoncurrent
11067000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
18342000
CY2022Q4 us-gaap Operating Lease Liability
OperatingLeaseLiability
5471000
CY2022Q4 us-gaap Management Fee Payable
ManagementFeePayable
5301000
CY2023Q2 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
10568000
CY2022Q4 us-gaap Accrued Liabilities Current And Noncurrent
AccruedLiabilitiesCurrentAndNoncurrent
5420000
CY2023Q2 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
119797000
CY2022Q4 us-gaap Accounts Payable And Accrued Liabilities Current And Noncurrent
AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
100357000
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4025114000
CY2022Q4 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
3565101000
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
42775000
CY2022Q4 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
43742000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
3982339000
CY2022Q4 us-gaap Long Term Debt
LongTermDebt
3521359000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal Remainder Of Fiscal Year
LongTermDebtMaturitiesRepaymentsOfPrincipalRemainderOfFiscalYear
0
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
0
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
0
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
1048000000
CY2023Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
237000000
CY2023Q2 safe Long Term Debt Maturities Repayments Of Principal After Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFour
2740114000
CY2023Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
4025114000
CY2023Q2 us-gaap Debt Instrument Unamortized Discount Premium And Debt Issuance Costs Net
DebtInstrumentUnamortizedDiscountPremiumAndDebtIssuanceCostsNet
42775000
CY2023Q2 us-gaap Long Term Debt
LongTermDebt
3982339000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Remainder Of Fiscal Year
LesseeOperatingLeaseLiabilityPaymentsRemainderOfFiscalYear
2863000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Next Twelve Months
LesseeOperatingLeaseLiabilityPaymentsDueNextTwelveMonths
5692000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due Year Two
LesseeOperatingLeaseLiabilityPaymentsDueYearTwo
5680000
CY2023Q2 us-gaap Lessee Operating Lease Liability Payments Due
LesseeOperatingLeaseLiabilityPaymentsDue
14235000
CY2023Q2 us-gaap Lessee Operating Lease Liability Undiscounted Excess Amount
LesseeOperatingLeaseLiabilityUndiscountedExcessAmount
1294000
CY2023Q2 safe Lessee Operating Lease Liability Other Adjustments
LesseeOperatingLeaseLiabilityOtherAdjustments
5401000
CY2023Q2 us-gaap Operating Lease Liability
OperatingLeaseLiability
18342000
CY2023Q2 safe Lessee Operating Lease Discount Rate Office Leases
LesseeOperatingLeaseDiscountRateOfficeLeases
0.058
CY2023Q2 us-gaap Lessee Operating Lease Term Of Contract
LesseeOperatingLeaseTermOfContract
P3Y1M6D
CY2023Q2 us-gaap Operating Lease Payments Use
OperatingLeasePaymentsUse
1500000
CY2023Q2 safe Lessee Operating Lease Liability Other Adjustments Annual Amount Due Lessor
LesseeOperatingLeaseLiabilityOtherAdjustmentsAnnualAmountDueLessor
500000
CY2023Q2 safe Real Estate Leasehold Improvement Allowance Unfunded Pending Milestone Achievement
RealEstateLeaseholdImprovementAllowanceUnfundedPendingMilestoneAchievement
250600000
CY2023Q2 safe Long Term Purchase Commitment Future Funding Obligation Amount
LongTermPurchaseCommitmentFutureFundingObligationAmount
271200000
CY2023Q2 safe Performance Based Commitments
PerformanceBasedCommitments
127700000
CY2023Q2 us-gaap Derivative Fair Value Of Derivative Asset
DerivativeFairValueOfDerivativeAsset
41690000
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
5400000
CY2023Q2 safe Number Of Interest Rate Hedges In Liability Position
NumberOfInterestRateHedgesInLiabilityPosition
1
CY2023Q2 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
22600000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.354
us-gaap Dividends Common Stock Cash
DividendsCommonStockCash
21500000
us-gaap Common Stock Dividends Per Share Declared
CommonStockDividendsPerShareDeclared
0.347
CY2023Q2 us-gaap Profit Loss
ProfitLoss
22111000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
22711000
us-gaap Profit Loss
ProfitLoss
26827000
us-gaap Profit Loss
ProfitLoss
47618000
CY2023Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-19000
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
33000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
15000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
67000
CY2023Q2 us-gaap Net Income Loss
NetIncomeLoss
22130000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
22678000
us-gaap Net Income Loss
NetIncomeLoss
26812000
us-gaap Net Income Loss
NetIncomeLoss
47551000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22130000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
22678000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
26812000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
47551000
CY2023Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
22130000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
22678000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
26812000
us-gaap Net Income Loss Available To Common Stockholders Diluted
NetIncomeLossAvailableToCommonStockholdersDiluted
47551000
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63944000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63252000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
63809000
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
61279000
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63944000
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63252000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
63809000
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
61279000
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.35
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.36
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.42
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.78
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.35
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.36
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.42
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.78
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
452
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
456
CY2022Q1 safe Number Of New Ground Leases
NumberOfNewGroundLeases
3
CY2023Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2023Q2 ecd Rule10b51 Arr Trmntd Flag
Rule10b51ArrTrmntdFlag
false
CY2023Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false

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