10-Q quarterly report · filed Nov 6, 2025

Safehold Inc. (SAFE) Q3 2025 10-Q Quarterly Report

Short answer

Safehold Inc. (SAFE) filed its Q3 2025 10-Q quarterly report on Nov 6, 2025 for the quarter ended Sep 30, 2025. Quarterly revenue was $96M (up 6.0% year over year) with net income of $29M.

Q3 2025 key financials · XBRL

Revenue
$96M
+6.0% YoY · +2.5% QoQ
Net income
$29M
+51.5% YoY · +4.8% QoQ
Operating margin
25.9%
EPS (diluted)
$0.41
+51.9% YoY · +5.1% QoQ

Source: XBRL data from the Safehold Inc. (SAFE) Q3 2025 10-Q on SEC EDGAR. USD.

Safehold Inc. Q3 2025 10-Q analysis

AI summary of MD&A and risk factor updates

Risk Factors

  • Newly added litigation risk: Termination notice and litigation commenced Oct 22, 2025 against Park Hotels master lease tenant for lease breaches
  • Materially updated market risk: Federal Reserve cut rates by 50 bps in Sept 2024 and further cuts following, increasing competition and affecting Ground Lease financing costs
  • Impactful legal risk: Uncertainty over ability to terminate Park Hotels master lease or prevail in litigation against tenant and guarantor
  • Operational risk: Office sector vacancies and reduced market liquidity post-COVID may lead to tenant defaults and losses on office Ground Leases
  • Financial risk: Unfunded commitments of $84.5M for leasehold improvements and $106.3M performance-based commitments could pressure liquidity and capital deployment

Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K

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