SAFE Safehold Inc. New Common Stock
NYSE · Real Estate · View on SEC EDGAR ↗ close Oct 2, 2026 10-K/10-Q Jul 31, 2026
$12.06
· of 52w range
· above low
· to high
$11.6052w low
$17.4552w high
Market Cap (MRQ)
$857M
P/E (TTM)
7.5
EPS (TTM)
$1.61
Revenue (TTM)
$420M
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52W Range
$12–$17
Analyst Rating
HOLD
Price Target
$18
P/E
7.5
ROE
4.8%
Net Profit Margin
27.7%
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SAFE Stock Snapshot Price, market cap, P/E, EPS, ROE, debt/equity, 52-week range
Price
$12.06
Market Cap (MRQ)
$857M
P/E (TTM)
7.5
EPS (TTM)
$1.61
Revenue (TTM)
$420M
Div Yield
5.9%
ROE (TTM)
4.8%
52W Range
$12–$17
SAFE Stock Price Chart Daily OHLCV with technical indicators — pan, zoom, and customize your view
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Stock splits
| Ex-date | Split | Type |
|---|---|---|
| March 31, 2023 | 1-for-6 | Reverse |
| Nov. 30, 2022 | 321-for-250 | Forward |
| June 19, 1998 | 1-for-6 | Reverse |
10-Year Performance Revenue, net income, margins and EPS trends
Revenue$386M2017-12-31 → 2025-12-31
EPS$1.592017-12-31 → 2025-12-31
Net margin27.7%2017-12-31 → 2025-12-31
Valuation & Ratios
Valuation P/E, P/S, P/B, EV/EBITDA ratios — is the stock expensive or cheap?
| Metric | 5Y trend | SAFE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| P/E (TTM) | 7.55Y avg ≈22.0 | ≈22.0 | 18.6 | Undervalued | |
| P/S (TTM) | 2.05Y avg ≈3.6 | ≈3.6 | 5.0 | Undervalued | |
| P/B (MRQ) | 0.45Y avg ≈0.6 | ≈0.6 | 1.3 | Undervalued | |
| Price / Cash Flow | 18.15Y avg ≈54.5 | ≈54.5 | 18.3 | Overvalued | |
| Price / Tangible Book (MRQ) | 0.45Y avg ≈2.8 | ≈2.8 | · | · |
Peer median is calculated on a standardized basis per metric and may not always match the TTM/MRQ basis shown for this stock.
Profitability Gross, operating and net margins; ROE, ROA, ROIC
| Metric | 5Y trend | SAFE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Operating Margin (TTM) | 25.1%5Y avg ≈9.4% | ≈9.4% | 24.6% | In line | |
| EBITDA Margin | 26.2%5Y avg ≈9.4% | ≈9.4% | 32.3% | Weak | |
| Pretax Margin (TTM) | 28.6%5Y avg ≈15.2% | ≈15.2% | 33.6% | Weak | |
| Net Profit Margin (TTM) | 27.7%5Y avg ≈14.3% | ≈14.3% | 33.1% | Weak | |
| ROA (TTM) | 1.6%5Y avg ≈0.77% | ≈0.77% | 4.0% | Weak | |
| ROE (TTM) | 4.8%5Y avg ≈2.3% | ≈2.3% | 6.7% | Weak | |
| ROIC | 4.1%5Y avg ≈1.4% | ≈1.4% | 8.3% | Weak |
Financial Health Debt, liquidity, solvency — balance sheet strength
No data for this ratio group yet
Not enough fundamentals data to compute this ratio group yet.
Growth Revenue, EPS and net income growth: YoY, 3Y CAGR, 5Y CAGR
| Metric | 5Y trend | SAFE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Revenue YoY | 5.4%5Y avg ≈8.4% | ≈8.4% | · | · | |
| Revenue CAGR 3Y | 12.6%5Y avg ≈13.5% | ≈13.5% | · | · | |
| Revenue CAGR 5Y | 3.5% | · | · | · | |
| EPS YoY | 7.4% | · | · | · | |
| Net Income YoY | 8.2% | · | · | · | |
| EPS CAGR 3Y | -9.8% | · | · | · | |
| Net Income CAGR 3Y | -5.5% | · | · | · |
Capital Efficiency Asset turnover, inventory turnover, receivables turnover
| Metric | 5Y trend | SAFE | 5Y avg | Peer Median | Verdict |
|---|---|---|---|---|---|
| Asset Turnover | 0.15Y avg ≈0.1 | ≈0.1 | 0.1 | Weak | |
| Revenue / Employee | ≈$5.4M | · | · | · |
value · ≈ 5Y avg · industry median · verdict relative to median
Dividends Yield, payout ratio, dividend history, 5Y CAGR
Dividend Yield5.9%
Payout Ratio44.5%
Annualized Payout≈$0.71
5Y Div CAGR≈-23.8%
| Ex-date | Amount | Currency | Yield |
|---|---|---|---|
| Jun 30, 2026 | $0.18 | USD | ≈4.5% |
| Mar 31, 2026 | $0.18 | USD | ≈5.2% |
| Dec 30, 2025 | $0.18 | USD | ≈5.2% |
| Sep 30, 2025 | $0.18 | USD | ≈4.6% |
| Jun 30, 2025 | $0.18 | USD | ≈4.6% |
| Mar 31, 2025 | $0.18 | USD | ≈3.8% |
| Dec 30, 2024 | $0.18 | USD | ≈3.9% |
| Sep 30, 2024 | $0.18 | USD | ≈2.7% |
| Jun 28, 2024 | $0.18 | USD | ≈3.7% |
| Mar 27, 2024 | $0.18 | USD | ≈9.0% |
| Dec 28, 2023 | $0.18 | USD | ≈6.9% |
| Sep 28, 2023 | $0.18 | USD | ≈8.3% |
| Jun 29, 2023 | $0.18 | USD | ≈5.6% |
| Mar 29, 2023 | $1.11 | USD | ≈4.0% |
| Aug 31, 2022 | $0.78 | USD | ≈4.7% |
| May 31, 2022 | $0.78 | USD | ≈3.7% |
| Feb 28, 2022 | $0.78 | USD | ≈2.6% |
| Nov 30, 2021 | $0.78 | USD | ≈2.6% |
| Aug 31, 2021 | $0.78 | USD | ≈2.3% |
| May 28, 2021 | $0.78 | USD | ≈3.5% |
Earnings History EPS actual vs estimate, surprise %, beat rate, next earnings date
Avg Surprise
-2.3%
Next Report
Nov 03, 2026
| Period | Report | EPS Actual | EPS Est | Surprise |
|---|---|---|---|---|
| June 30, 2026 | Aug 3, 2026 | $0.42 | $0.42 | -0.85% |
| March 31, 2026 | $0.40 | $0.44 | -10.0% | |
| Dec. 31, 2025 | $0.42 | $0.43 | -1.6% | |
| Sept. 30, 2025 | $0.41 | $0.40 | 2.3% | |
| June 30, 2025 | $0.39 | $0.41 | -5.5% | |
| March 31, 2025 | $0.44 | $0.43 | 1.2% | |
| June 30, 2000 | $0.66 | $0.67 | -2.0% |
Full Fundamentals All metrics by year — income statement, balance sheet, cash flow
Income Statement
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $386M | $366M | $353M | $270M | $187M | $324M | $274M | $798M | $679M | $455M | $496M | $462M | |
| Cost of Revenue | $5M | $4M | $5M | $3M | $3M | · | · | · | · | · | · | · | |
| SG&A Expense | $54M | $55M | $69M | $39M | $29M | $101M | $99M | $92M | $99M | $84M | $81M | $88M | |
| Operating Expenses | $285M | $279M | $430M | $190M | $122M | $474M | $456M | $994M | $719M | $564M | $635M | $602M | |
| Operating Income | $101M | $87M | $-77M | $136M | $65M | · | · | · | · | · | · | · | |
| Interest Expense | · | · | $181M | $129M | $80M | $127M | $142M | $184M | $195M | $221M | $225M | $224M | |
| Interest Income | $11M | $9M | $7M | · | · | · | · | · | · | · | · | · | |
| Pretax Income | $118M | $110M | $-53M | $145M | $73M | $-116M | $-155M | $-18M | $51M | $72M | $-107M | $-70M | |
| Income Tax | $3M | $3M | $2M | $567.0K | $-118.0K | $89.0K | $369.0K | $815.0K | $-948.0K | $-10M | $8M | $4M | |
| Net Income | $114M | $106M | $-55M | $135M | $73M | $-42M | $324M | $-32M | $176M | $95M | $-2M | $16M | |
| EPS (Basic) | $1.60 | $1.48 | $-0.82 | $2.17 | $1.32 | $-0.87 | $4.51 | $-0.95 | $1.56 | $0.60 | $-0.62 | $-0.40 | |
| EPS (Diluted) | $1.59 | $1.48 | $-0.82 | $2.17 | $1.32 | $-0.87 | $4.51 | $-0.95 | $1.56 | $0.60 | $-0.62 | $-0.40 | |
| Shares (Basic) | 71,694,000 | 71,370,000 | 66,690,000 | 62,393,000 | 55,250,000 | 75,684,000 | 64,696,000 | 67,958,000 | 71,021,000 | 73,453,000 | 84,987,000 | 85,031,000 | |
| Shares (Diluted) | 71,786,000 | 71,451,000 | 66,690,000 | 62,394,000 | 55,263,000 | 75,684,000 | 64,696,000 | 67,958,000 | 71,021,000 | 73,835,000 | 84,987,000 | 85,031,000 | |
| EBITDA | $101M | $87M | $-77M | · | · | $58M | $58M | $59M | $50M | $54M | · | · |
Balance Sheet
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $22M | $8M | $19M | $20M | $30M | $99M | $307M | $932M | $658M | $329M | $711M | $472M | |
| PP&E (Net) | $461.0K | $647.0K | $979.0K | · | · | · | · | · | · | · | · | · | |
| Intangibles | $204M | $209M | $211M | $218M | $1M | $2M | $175M | $156M | $27M | $31M | $71M | $50M | |
| Total Assets | $7.25B | $6.90B | $6.55B | $5.85B | $4.84B | $4.86B | $5.09B | $5.01B | $4.73B | $4.83B | $5.60B | $5.46B | |
| Total Liabilities | $4.81B | $4.53B | $4.25B | $3.69B | $3.78B | $3.80B | $3.85B | $3.95B | $3.82B | $3.76B | $4.49B | $4.20B | |
| Long-term Debt | $4.59B | $4.32B | $4.05B | $3.52B | $2.57B | $2.57B | $3.39B | $3.61B | $3.48B | $3.39B | $4.12B | $4.02B | |
| Common Stock | $717.0K | $714.0K | $711.0K | $624.0K | $69.0K | $74.0K | $78.0K | $68.0K | $68.0K | $72.0K | $81.0K | $85.0K | |
| Paid-in Capital | $2.20B | $2.19B | $2.18B | $1.99B | $3.10B | $3.24B | $3.28B | $3.35B | $3.35B | $3.60B | $3.69B | $3.74B | |
| Retained Earnings | $166M | $102M | $48M | $151M | $-2.23B | $-2.32B | $-2.21B | $-2.47B | $-2.47B | $-2.58B | $-2.63B | $-2.56B | |
| Treasury Stock | · | · | · | · | · | · | · | · | · | · | · | $263M | |
| AOCI | $43M | $49M | $-1M | $3M | $-22M | $-53M | $-39M | $-17M | $-2M | $-4M | $-5M | $-971.0K | |
| Stockholders' Equity | $2.41B | $2.34B | $2.23B | $2.14B | $851M | $871M | $1.04B | $863M | $880M | $1.02B | $1.06B | $1.20B | |
| Liabilities + Equity | $7.25B | $6.90B | $6.55B | $5.85B | $4.84B | $4.86B | $5.09B | $5.01B | $4.73B | $4.83B | $5.60B | $5.46B | |
| Shares Outstanding | 71,756,000 | 71,440,000 | 71,077,000 | 62,397,000 | 68,870,000 | 73,967,000 | 77,810,000 | 68,085,000 | 68,236,000 | 72,042,000 | 81,109,000 | 85,191,000 |
Cash Flow
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $9M | $10M | $10M | $5M | $59M | $58M | $58M | $59M | $50M | $54M | $65M | $74M | |
| Stock-based Comp | $13M | $14M | $23M | $2M | $2M | $39M | $30M | $18M | $19M | $11M | $12M | $13M | |
| Amort. of Intangibles | · | · | · | $100.0K | $1M | $200.0K | $200.0K | $7M | $2M | $2M | $4M | $7M | |
| Other Non-cash | · | · | · | · | · | $-33M | $-458M | $-68M | $-164M | $-141M | · | · | |
| Operating Cash Flow | $48M | $38M | $15M | $65M | $27M | $22M | $-46M | $-24M | $102M | $29M | $-58M | $-10M | |
| Investing Cash Flow | $-237M | $-212M | $-577M | $-1.15B | $-1.29B | $31M | $-398M | $779M | $263M | $465M | $184M | $160M | |
| Debt Issued | $2.01B | $2.27B | $577M | $1.83B | $1.85B | · | · | · | · | · | · | · | |
| Net Debt Issued | $2.01B | $2.27B | $577M | · | · | · | · | · | · | · | · | · | |
| Stock Issued | $0 | $0 | $152M | $309M | $243M | · | · | · | · | · | · | · | |
| Stock Repurchased | · | · | · | · | $123M | $55M | $68M | $8M | $46M | $99M | $70M | $0 | |
| Net Stock Activity | $0 | $0 | $152M | · | · | $-55M | $-68M | $-8M | $-46M | $-99M | · | · | |
| Dividends Paid | $51M | $51M | $46M | $42M | $36M | $33M | $25M | $12M | $0 | $0 | · | · | |
| Financing Cash Flow | $203M | $145M | $560M | $1.09B | $1.20B | $-255M | $-179M | $-458M | $-41M | $-878M | $113M | $-191M | |
| Net Change in Cash | $14M | $-30M | $-2M | $10M | $-58M | $-202M | $-622M | $297M | $323M | $-383M | $239M | $-42M |
Profitability
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 26.2% | 23.8% | -21.9% | · | · | · | · | · | · | · | · | · | |
| Net Margin | 29.7% | 28.9% | -15.6% | · | · | -8.0% | 67.6% | -4.0% | 25.9% | 20.0% | · | · | |
| Pretax Margin | 30.5% | 30.1% | -15.0% | · | · | -5.8% | 69.8% | -2.2% | -6.1% | -3.2% | · | · | |
| EBITDA Margin | 26.2% | 23.8% | -21.9% | · | · | 10.9% | 12.2% | 7.3% | 7.3% | 11.4% | · | · | |
| ROA | 1.6% | 1.6% | -0.89% | · | · | -0.85% | 6.4% | -0.66% | 3.7% | 1.8% | · | · | |
| ROE | 4.8% | 4.6% | -2.5% | · | · | -4.4% | 34.1% | -3.7% | 18.5% | 9.2% | · | · | |
| ROIC | 4.1% | 3.6% | -3.6% | · | · | · | · | · | · | · | · | · |
Liquidity & Solvency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | -0.4 | · | · | · | · | · | · | · | · | · |
Efficiency
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.1 | 0.1 | 0.1 | · | · | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | · | · |
Per Share
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $33.56 | $32.81 | $31.40 | · | · | $11.78 | $13.37 | $12.68 | $12.89 | $14.11 | · | · | |
| Revenue / Share | $5.37 | $5.12 | $5.29 | · | · | $7.02 | $5.94 | $11.74 | $9.56 | $4.84 | · | · | |
| Cash Flow / Share | $0.67 | $0.53 | $0.23 | · | · | $0.29 | $-0.57 | $-0.35 | $1.13 | $0.20 | · | · | |
| Cash / Share | $0.30 | $0.12 | $0.26 | · | · | $1.33 | $3.95 | $13.69 | $9.64 | $4.56 | · | · | |
| Dividend / Share | $0.71 | $0.71 | $0.71 | $0.70 | $0.67 | $0.43 | $0.39 | $0.18 | · | · | · | · | |
| Dividend Paid / Share | · | · | · | $0.38 | $0.48 | $0.43 | $0.39 | $0.18 | · | · | · | · | |
| EPS (TTM) | $1.59 | $1.48 | $-0.82 | $2.17 | $1.32 | $-0.87 | $4.51 | $-0.95 | $1.56 | $0.60 | $-0.62 | $-0.40 |
Growth Rates
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue YoY | 5.4% | 3.7% | 30.4% | 44.5% | -42.3% | · | · | · | · | · | · | · | |
| Revenue CAGR 3Y | 12.6% | 25.1% | 2.9% | · | · | · | · | · | · | · | · | · | |
| Revenue CAGR 5Y | 3.5% | · | · | · | · | · | · | · | · | · | · | · | |
| EPS YoY | 7.4% | · | · | 64.4% | · | · | · | · | · | · | · | · | |
| EPS CAGR 3Y | -9.8% | 3.9% | · | · | · | · | · | · | · | · | · | · | |
| Net Income YoY | 8.2% | · | · | 85.2% | · | · | · | · | · | · | · | · | |
| Net Income CAGR 3Y | -5.5% | 13.1% | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid CAGR 5Y | 9.3% | · | · | · | · | · | · | · | · | · | · | · |
Valuation (TTM)
| Metric | Trend | 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | 2017 | 2016 | 2015 | 2014 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $386M | $366M | $353M | $270M | $187M | $324M | $274M | $798M | $679M | $455M | $496M | $462M | |
| Net Income TTM | $114M | $106M | $-55M | $135M | $73M | $-42M | $324M | $-32M | $176M | $95M | $-2M | $16M | |
| Market Cap | $982M | $1.32B | $1.66B | · | · | $5.35B | $5.50B | $3.04B | $3.75B | $4.34B | · | · | |
| P/E | 8.6 | 12.5 | -28.5 | 22.0 | 95.3 | -83.1 | 15.7 | -47.0 | 35.3 | 100.4 | -92.1 | -166.1 | |
| P/S | 2.5 | 3.6 | 4.7 | · | · | 16.5 | 20.1 | 3.8 | 5.5 | 9.5 | · | · | |
| P/B | 0.4 | 0.6 | 0.7 | · | · | 6.1 | 5.3 | 3.5 | 4.3 | 4.3 | · | · | |
| P / Tangible Book | 0.4 | 0.6 | 0.8 | 2.1 | 10.2 | 6.2 | · | · | · | · | · | · | |
| P / Cash Flow | 20.5 | 34.9 | 108.0 | · | · | 244.3 | -120.5 | -126.0 | 46.8 | 216.8 | · | · | |
| Dividend Yield | 5.2% | 3.8% | 2.8% | · | · | 0.61% | 0.46% | 0.40% | 0.00% | 0.00% | · | · | |
| Earnings Yield | 11.6% | 8.0% | -3.5% | 4.5% | 1.1% | -1.2% | 6.4% | -2.1% | 2.8% | 1.0% | -1.1% | -0.60% | |
| Payout Ratio | 44.5% | 47.8% | -83.8% | · | · | -77.0% | 7.7% | -37.9% | · | · | · | · | |
| Annual Payout | $51M | $51M | $46M | $42M | $36M | $33M | $25M | $12M | $0 | $0 | · | · |
Income Statement
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $115M | $111M | $98M | $96M | $94M | $98M | $92M | $91M | $90M | $93M | $103M | $86M | $86M | $78M | $73M | $72M | |
| Cost of Revenue | $770.0K | $1M | $1M | $1M | $881.0K | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $1M | $838.0K | $866.0K | |
| SG&A Expense | $14M | $15M | $14M | $13M | $13M | $14M | $14M | $13M | $12M | $16M | $17M | $18M | $19M | $15M | $9M | $10M | |
| Operating Expenses | $86M | $85M | $71M | $71M | $70M | $72M | $69M | $75M | $66M | $69M | $69M | $216M | $70M | $76M | $54M | $54M | |
| Operating Income | $28M | $26M | $27M | $25M | $24M | $25M | $23M | $16M | $24M | $25M | $35M | $-130M | $16M | $2M | $19M | $73M | |
| Interest Expense | · | · | · | · | · | · | · | $50M | $49M | $49M | · | $47M | $46M | $41M | · | $35M | |
| Interest Income | $3M | $3M | $3M | $3M | $3M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | · | · | · | |
| Pretax Income | $32M | $30M | $29M | $30M | $29M | $30M | $27M | $21M | $30M | $32M | $43M | $-123M | $23M | $5M | $48M | $75M | |
| Income Tax | $1M | $685.0K | $973.0K | $215.0K | $862.0K | $883.0K | $1M | $660.0K | $910.0K | $471.0K | $1M | $55.0K | $525.0K | · | · | $564.0K | |
| Net Income | $30M | $29M | $28M | $29M | $28M | $29M | $26M | $19M | $30M | $31M | $41M | $-123M | $22M | $5M | $22M | $66M | |
| EPS (Basic) | $0.42 | $0.40 | $0.39 | $0.41 | $0.39 | $0.41 | $0.36 | $0.27 | $0.42 | $0.43 | $0.57 | $-1.81 | $0.35 | $0.07 | $0.35 | $1.04 | |
| EPS (Diluted) | $0.42 | $0.40 | $0.38 | $0.41 | $0.39 | $0.41 | $0.36 | $0.27 | $0.42 | $0.43 | $0.57 | $-1.81 | $0.35 | $0.07 | $0.35 | $1.04 | |
| Shares (Basic) | 71,457,000 | 71,811,000 | · | 71,756,000 | 71,740,000 | 71,521,000 | · | 71,436,000 | 71,435,000 | 71,170,000 | · | 67,979,000 | 63,944,000 | 63,672,000 | 86,704,000 | 63,393,000 | |
| Shares (Diluted) | 71,581,000 | 71,975,000 | · | 71,843,000 | 71,801,000 | 71,635,000 | · | 71,540,000 | 71,462,000 | 71,240,000 | · | 67,979,000 | 63,944,000 | 63,672,000 | 86,704,000 | 63,393,000 | |
| EBITDA | $28M | $26M | · | $25M | $24M | $25M | · | $16M | $24M | $25M | · | $-130M | $16M | $2M | · | · |
Balance Sheet
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Cash & Equivalents | $16M | $19M | $22M | $12M | $14M | $17M | $8M | $16M | $13M | $11M | $19M | $11M | $14M | $20M | $20M | $1.34B | |
| PP&E (Net) | $991.0K | $837.0K | $461.0K | $526.0K | $540.0K | $598.0K | $647.0K | $718.0K | $801.0K | $889.0K | · | $1M | $1M | $1M | · | · | |
| Goodwill | · | · | · | · | · | · | · | · | · | · | · | · | $150M | $156M | · | · | |
| Intangibles | $202M | $203M | $204M | $205M | $207M | $207M | $209M | $210M | $211M | $213M | · | $213M | $214M | $216M | · | $334.0K | |
| Total Assets | $7.52B | $7.38B | $7.25B | $7.15B | $7.06B | $6.93B | $6.90B | $6.81B | $6.77B | $6.67B | · | $6.44B | $6.42B | $6.29B | · | $3.52B | |
| Total Liabilities | $4.89B | $4.92B | $4.81B | $4.73B | $4.66B | $4.55B | $4.53B | $4.50B | $4.39B | $4.33B | · | $4.12B | $4.17B | $4.09B | · | $1.82B | |
| Long-term Debt | $4.65B | $4.70B | $4.59B | $4.51B | $4.44B | $4.34B | $4.32B | $4.30B | $4.19B | $4.14B | · | $3.94B | $3.98B | $3.90B | · | $1.68B | |
| Common Stock | $711.0K | $718.0K | $717.0K | $717.0K | $717.0K | $717.0K | $714.0K | $714.0K | $714.0K | $714.0K | · | $710.0K | $639.0K | $639.0K | · | $87.0K | |
| Paid-in Capital | $2.19B | $2.20B | $2.20B | $2.20B | $2.20B | $2.20B | $2.19B | $2.19B | $2.19B | $2.19B | · | $2.18B | $2.03B | $2.03B | · | $3.46B | |
| Retained Earnings | $199M | $182M | $166M | $151M | $134M | $119M | $102M | $89M | $83M | $66M | · | $19M | $155M | $144M | · | $-1.77B | |
| AOCI | $52M | $47M | $43M | $41M | $42M | $35M | $49M | $8M | $38M | $26M | · | $61M | $9M | $-24M | · | $-5M | |
| Stockholders' Equity | $2.44B | $2.43B | $2.41B | $2.39B | $2.37B | $2.35B | $2.34B | $2.29B | $2.31B | $2.28B | · | $2.26B | $2.20B | $2.15B | · | $1.68B | |
| Liabilities + Equity | $7.52B | $7.38B | $7.25B | $7.15B | $7.06B | $6.93B | $6.90B | $6.81B | $6.77B | $6.67B | · | $6.44B | $6.42B | $6.29B | · | $3.52B | |
| Shares Outstanding | 71,057,000 | 71,820,000 | 71,756,000 | 71,756,000 | 71,756,000 | 71,723,000 | 71,440,000 | 71,436,000 | 71,435,000 | 71,435,000 | · | 71,066,000 | 63,966,000 | 63,941,000 | · | 86,695,000 |
Cash Flow
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| D&A | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $2M | $3M | $3M | $2M | $2M | $1M | |
| Stock-based Comp | $3M | $4M | $3M | $3M | $3M | $3M | $4M | $3M | $2M | $5M | $3M | $7M | $8M | $5M | $28.0K | $32M | |
| Operating Cash Flow | $35M | $-9M | $12M | $-1M | $28M | $9M | $8M | $8M | $25M | $-3M | $23M | $2M | $-3M | $-7M | $13M | $25M | |
| Investing Cash Flow | $-123M | $-86M | $-57M | $-56M | $-117M | $-7M | $-21M | $-54M | $-62M | $-75M | $-127M | $-94M | $-86M | $-270M | $-98M | $-3.67B | |
| Debt Issued | $832M | $790M | $1.09B | $381M | $327M | $216M | $1.18B | $598M | $75M | $417M | $119M | $100M | $78M | $280M | $60M | $310M | |
| Net Debt Issued | · | $790M | · | · | · | $216M | · | · | · | $417M | · | · | · | $280M | · | · | |
| Stock Issued | · | · | · | · | · | · | · | · | · | · | $0 | · | · | · | $0 | $0 | |
| Stock Repurchased | $13M | $3M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Net Stock Activity | · | $-3M | · | · | · | · | · | · | · | · | · | · | · | · | · | · | |
| Dividends Paid | $13M | $13M | $13M | $13M | $13M | $13M | $13M | $13M | $13M | $13M | $13M | $11M | $0 | $22M | $11M | $12M | |
| Financing Cash Flow | $86M | $91M | $54M | $56M | $86M | $7M | $6M | $48M | $20M | $70M | $111M | $89M | $83M | $277M | $40M | $2.69B | |
| Net Change in Cash | $-2M | $-3M | $9M | $-2M | $-3M | $9M | $-7M | $2M | $-17M | $-8M | $7M | $-3M | $-6M | $-101.0K | $-45M | $-957M |
Profitability
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating Margin | 24.6% | 23.1% | · | 25.9% | 25.5% | 25.9% | · | 17.5% | 26.7% | 26.4% | · | -152.2% | 18.5% | 3.1% | · | · | |
| Net Margin | 26.3% | 26.0% | · | 30.4% | 29.8% | 30.1% | · | 21.3% | 33.0% | 33.0% | · | -143.7% | 25.8% | 6.0% | · | 37.7% | |
| Pretax Margin | 28.0% | 26.7% | · | 30.7% | 30.7% | 31.0% | · | 22.7% | 33.9% | 33.8% | · | -143.5% | 26.4% | · | · | 38.8% | |
| EBITDA Margin | 24.6% | 23.1% | · | 25.9% | 25.5% | 25.9% | · | 17.5% | 26.7% | 26.4% | · | -152.2% | 18.5% | 3.1% | · | · | |
| ROA | 0.41% | 0.40% | · | 0.42% | 0.40% | 0.43% | · | 0.29% | 0.45% | 0.47% | · | -2.5% | 0.44% | 0.09% | · | 0.43% | |
| ROE | 1.2% | 1.2% | · | 1.2% | 1.2% | 1.3% | · | 0.85% | 1.3% | 1.4% | · | -6.2% | 1.2% | 0.26% | · | 1.4% | |
| ROIC | 1.1% | 1.0% | · | 1.0% | 0.98% | 1.0% | · | 0.67% | 1.0% | 1.1% | · | -5.8% | 0.70% | · | · | · |
Liquidity & Solvency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Interest Coverage | · | · | · | · | · | · | · | 0.3 | 0.5 | 0.5 | · | -2.8 | 0.3 | 0.1 | · | · |
Efficiency
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Asset Turnover | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 | 0.0 | 0.0 | · | 0.0 |
Per Share
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Book Value / Share | $34.33 | $33.81 | · | $33.31 | $33.08 | $32.78 | · | $32.03 | $32.38 | $31.97 | · | $31.86 | $34.38 | $33.65 | · | $19.38 | |
| Revenue / Share | $1.60 | $1.54 | · | $1.34 | $1.31 | $1.36 | · | $1.27 | $1.26 | $1.31 | · | $1.26 | $1.34 | $1.23 | · | $0.56 | |
| Cash Flow / Share | · | $-0.12 | · | · | · | $0.12 | · | · | · | $-0.04 | · | · | · | $-0.11 | · | · | |
| Cash / Share | $0.22 | $0.27 | · | $0.17 | $0.19 | $0.24 | · | $0.22 | $0.19 | $0.16 | · | $0.16 | $0.22 | $0.32 | · | $15.41 | |
| Dividend / Share | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | $0.18 | |
| Dividend Paid / Share | · | · | · | · | · | · | · | · | · | · | · | · | · | · | · | $0.12 | |
| EPS (TTM) | $1.61 | $1.58 | · | $1.57 | $1.43 | $1.46 | · | $1.69 | $-0.39 | $-0.46 | · | $-1.04 | $1.81 | $1.82 | · | $1.91 |
Valuation (TTM)
| Metric | Trend | Q2 2026 | Q1 2026 | Q4 2025 | Q3 2025 | Q2 2025 | Q1 2025 | Q4 2024 | Q3 2024 | Q2 2024 | Q1 2024 | Q4 2023 | Q3 2023 | Q2 2023 | Q1 2023 | Q4 2022 | Q3 2022 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue TTM | $420M | $399M | · | $380M | $374M | $370M | · | $377M | $372M | $367M | · | $323M | $309M | $288M | · | $126M | |
| Net Income TTM | $116M | $114M | · | $113M | $103M | $104M | · | $121M | $-21M | $-29M | · | $-74M | $115M | $115M | · | $67M | |
| Market Cap | $1.12B | $972M | · | $1.11B | $1.12B | $1.34B | · | $1.87B | $1.38B | $1.47B | · | $1.26B | $1.52B | $1.88B | · | $3.91B | |
| P/E | 9.8 | 8.6 | · | 9.9 | 10.9 | 12.8 | · | 15.5 | -49.5 | -44.8 | · | -17.1 | 13.1 | 16.1 | · | 23.6 | |
| P/S | 2.7 | 2.4 | · | 2.9 | 3.0 | 3.6 | · | 5.0 | 3.7 | 4.0 | · | 3.9 | 4.9 | 6.5 | · | 31.0 | |
| P/B | 0.5 | 0.4 | · | 0.5 | 0.5 | 0.6 | · | 0.8 | 0.6 | 0.6 | · | 0.6 | 0.7 | 0.9 | · | 2.3 | |
| P / Tangible Book | 0.5 | 0.4 | · | 0.5 | 0.5 | 0.6 | · | 0.9 | 0.7 | 0.7 | · | 0.6 | 0.8 | 1.1 | · | 2.3 | |
| P / Cash Flow | · | -113.0 | · | · | · | 150.8 | · | · | · | -480.3 | · | · | · | -275.6 | · | · | |
| Dividend Yield | 4.6% | 5.2% | · | 4.6% | 4.5% | 3.8% | · | 2.7% | 3.6% | 2.5% | · | 3.5% | 3.0% | 3.0% | · | 1.1% | |
| Earnings Yield | 10.2% | 11.7% | · | 10.1% | 9.2% | 7.8% | · | 6.4% | -2.0% | -2.2% | · | -5.8% | 7.6% | 6.2% | · | 4.2% | |
| Payout Ratio | · | 44.0% | · | · | · | 43.1% | · | · | · | 40.9% | · | · | · | 473.0% | · | · | |
| Annual Payout | $51M | $51M | · | $51M | $51M | $51M | · | $51M | $49M | $36M | · | $44M | $45M | $56M | · | $43M |
Most recent period on the left · null values shown as ·
Financial Statements Income statement, balance sheet, cash flow — annual, last 5 years
| Metric | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 | 2021-12-31 |
|---|---|---|---|---|---|
| Revenue | $386M | $366M | $353M | $270M | $187M |
| Operating Margin % | 26.2% | 23.8% | -21.9% | · | · |
| Net Income | $114M | $106M | $-55M | $135M | $73M |
| Diluted EPS | $1.59 | $1.48 | $-0.82 | $2.17 | $1.32 |
No data for this statement
Not enough fundamentals data to build this statement yet.
No data for this statement
Not enough fundamentals data to build this statement yet.
Institutional owners (13F) 228 filers · $789.2M total · As of Sept. 30, 2026
Institutions that report holding this stock in their quarterly SEC Form 13F. Long positions only; a single filer may appear twice for separate option legs. Large offsetting put/call legs typically reflect market-making or hedged inventory, not directional conviction.
Holders
228
Value held
$789.2M
New positions
28
Exited positions
25
Institutional activity — Q2 2026 vs prior quarter
| New positions | Exited positions | Increased | Decreased | Net shares change |
|---|---|---|---|---|
| 28 (-9 vs prior Q) | 25 (+5 vs prior Q) | 76 (-7 vs prior Q) | 67 (+4 vs prior Q) | +914K |
Compared to Q1 2026. SEC Form 13F filings are due within 45 days of quarter-end plus a short buffer for late filers — quarters still inside that window are skipped in favor of the most recent fully-reported pair.
| Institution | Value | Shares | % of tracked 13F | Type |
|---|---|---|---|---|
| BlackRock, Inc. | $156,035,626 | 9,938,575 | 19.77% | Shares |
| VANGUARD GROUP INC | $103,211,252 | 7,539,171 | 13.08% | Shares |
| MSD CAPITAL, L.P. | $90,789,097 | 5,782,745 | 11.50% | Shares |
| VANGUARD PORTFOLIO MANAGEMENT LLC | $80,001,627 | 5,095,645 | 10.14% | Shares |
| STATE STREET CORP | $41,210,243 | 2,596,198 | 5.22% | Shares |
| VANGUARD CAPITAL MANAGEMENT LLC | $36,114,600 | 2,300,293 | 4.58% | Shares |
| GEODE CAPITAL MANAGEMENT, LLC | $23,077,825 | 1,469,703 | 2.92% | Shares |
| AMERIPRISE FINANCIAL INC | $17,959,868 | 1,143,866 | 2.28% | Shares |
| JPMORGAN CHASE & CO | $14,043,210 | 861,555 | 1.78% | Shares |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC | $13,236,105 | 843,064 | 1.68% | Shares |
| MORGAN STANLEY | $12,454,342 | 793,269 | 1.58% | Shares |
| NewEdge Wealth, LLC | $10,529,438 | 670,665 | 1.33% | Shares |
| NORTHERN TRUST CORP | $10,248,600 | 652,777 | 1.30% | Shares |
| ALGERT GLOBAL LLC | $9,549,415 | 608,243 | 1.21% | Shares |
| AQR CAPITAL MANAGEMENT LLC | $8,229,778 | 524,190 | 1.04% | Shares |
| GOLDMAN SACHS GROUP INC | $7,162,066 | 456,183 | 0.91% | Shares |
| Bank of New York Mellon Corp | $6,467,950 | 411,971 | 0.82% | Shares |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | $5,673,398 | 419,320 | 0.72% | Shares |
| BANK OF AMERICA CORP /DE/ | $5,152,965 | 328,214 | 0.65% | Shares |
| VANGUARD FIDUCIARY TRUST CO | $4,907,365 | 312,571 | 0.62% | Shares |
| DENALI ADVISORS LLC | $4,860,720 | 309,600 | 0.62% | Shares |
| State of New Jersey Common Pension Fund D | $4,748,920 | 302,479 | 0.60% | Shares |
| Michelson Medical Research Foundation, Inc. | $4,670,389 | 297,477 | 0.59% | Shares |
| Legal & General Group Plc | $4,602,926 | 293,180 | 0.58% | Shares |
| PRINCIPAL FINANCIAL GROUP INC | $4,598,907 | 292,924 | 0.58% | Shares |
| PEREGRINE CAPITAL MANAGEMENT LLC | $4,567,428 | 290,919 | 0.58% | Shares |
| Invesco Ltd. | $3,997,048 | 254,589 | 0.51% | Shares |
| Russell Investments Group, Ltd. | $3,513,379 | 223,782 | 0.45% | Shares |
| MSD Partners, L.P. | $3,495,511 | 222,644 | 0.44% | Shares |
| GABELLI FUNDS LLC | $3,311,114 | 210,899 | 0.42% | Shares |
| Quantinno Capital Management LP | $3,301,160 | 210,265 | 0.42% | Shares |
| SEI INVESTMENTS CO | $3,106,883 | 197,890 | 0.39% | Shares |
| JANE STREET GROUP, LLC | $3,065,330 | 195,244 | 0.39% | Shares |
| JUPITER ASSET MANAGEMENT LTD | $2,863,617 | 182,396 | 0.36% | Shares |
| Aristotle Capital Boston, LLC | $2,777,838 | 176,932 | 0.35% | Shares |
| TUDOR INVESTMENT CORP ET AL | $2,757,752 | 175,653 | 0.35% | Shares |
| Nuveen, LLC | $2,699,773 | 171,960 | 0.34% | Shares |
| Berkeley Capital Partners, LLC | $2,668,854 | 169,991 | 0.34% | Shares |
| Public Sector Pension Investment Board | $2,474,116 | 157,587 | 0.31% | Shares |
| Cubist Systematic Strategies, LLC | $2,473,487 | 159,683 | 0.31% | Shares |
| PRUDENTIAL FINANCIAL INC | $2,198,361 | 140,023 | 0.28% | Shares |
| RHUMBLINE ADVISERS | $2,106,531 | 134,175 | 0.27% | Shares |
| TWO SIGMA INVESTMENTS, LP | $2,054,957 | 130,889 | 0.26% | Shares |
| EXCHANGE TRADED CONCEPTS, LLC | $1,738,963 | 110,762 | 0.22% | Shares |
| HSBC HOLDINGS PLC | $1,726,246 | 109,952 | 0.22% | Shares |
| DEUTSCHE BANK AG\ | $1,659,552 | 105,704 | 0.21% | Shares |
| NEW YORK STATE COMMON RETIREMENT FUND | $1,647,213 | 104,918 | 0.21% | Shares |
| Man Group plc | $1,539,605 | 98,064 | 0.20% | Shares |
| Swiss National Bank | $1,471,310 | 93,714 | 0.19% | Shares |
| ROYAL BANK OF CANADA | $1,437,000 | 91,554 | 0.18% | Shares |
Activists & 5%+ owners 12 positions
Investors who filed SEC Schedule 13D — beneficial ownership above 5% with an intent to influence the issuer (activist stakes, board campaigns, M&A). Each row shows the most recent known state of that filer's position.
| Filer | Filed | Stake | Status | Purpose | Filing |
|---|---|---|---|---|---|
| GIC PRIVATE LIMITED, GIC Real Estate Private Limited, GIC Real Estate, Inc., SFTY Venture LLC | April 11, 2023 | · | Initial filing | Passive investment | SEC |
| Star Holdings | April 10, 2023 | · | Initial filing | · | SEC |
| Safehold Inc. (f/k/a iStar Inc.) | April 4, 2023 | · | Initial filing | M&A / sale | SEC |
| iStar Inc. ×26 filings | Dec. 8, 2022 | · | Initial filing | · | SEC |
| Lazard Freres Real Estate Fund II L.P., Lazard Freres Real Estate Offshore Fund II L.P., LF Offshore Investment L.P., Lazard Freres Real Estate Investors L.L.C., LF Real Estate Investors Company, Lazard Freres & Co. LLC, Eurazeo (successor by merger) | April 22, 2004 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | May 19, 2003 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Nov. 21, 2002 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | June 18, 2002 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | May 23, 2002 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Nov. 9, 2001 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | Nov. 7, 2001 | · | Initial filing | · | SEC |
| Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person, Undisclosed reporting person | May 29, 2001 | · | Initial filing | · | SEC |
Purpose is an automated classification of the filer's own stated purpose (SEC Item 4) — not investment advice. "—" means no clear purpose was stated or the text could not be classified.
Company insiders 32 insiders · 12 officers · 17 directors
| Insider | Role | Last activity | Shares owned | Buys 12m | Sells 12m | Net 12m |
|---|---|---|---|---|---|---|
| Jay Sugarman | CHAIRMAN AND CEO | March 31, 2026 F | 1,830,283 | 0 | 0 | $0 |
| Brett Asnas | CHIEF FINANCIAL OFFICER | March 31, 2026 F | 205,849 | 0 | 0 | $0 |
| Jeremy Fox-Geen | Chief Financial Officer | Feb. 26, 2021 A | 32,062 | 0 | 0 | $0 |
| Geoffrey G Jervis | COO and CFO | Feb. 28, 2018 F | 31,173 | 0 | 0 | $0 |
| David Michael Distaso | CHIEF FINANCIAL OFFICER | Feb. 1, 2016 F | 93,994 | 0 | 0 | $0 |
| James D Burns | Chief Financial Officer | Feb. 17, 2010 P | 242,663 | 0 | 0 | $0 |
| Michael Lane Trachtenberg | President | Dec. 1, 2025 A | 93,076 | 0 | 0 | $0 |
| Marcos Alvarado | PRESIDENT & CIO | March 31, 2023 F | 619,530 | 0 | 0 | $0 |
| Christopher Michael Uhlick | Chief Accounting Officer | May 29, 2026 A | 12,483 | 0 | 0 | $0 |
| Garett Rosenblum | CHIEF ACCOUNTING OFFICER | March 31, 2023 F | 38,207 | 0 | 0 | $0 |
| Nina Matis | Vice Chmn/Chief Legal Officer | Jan. 1, 2019 F | 317,337 | 0 | 0 | $0 |
| Collin Lee Cochrane | Chief Accounting Officer | Feb. 15, 2013 A | 13,750 | 0 | 0 | $0 |
| Robin Josephs | Director | Sept. 9, 2026 S | 89,068 | 0 | 1 | $-138,320 |
| Barry W Ridings | Director | July 15, 2026 A | 61,725 | 0 | 0 | $0 |
| Stefan M Selig | Director | May 14, 2026 A | 105,169 | 0 | 0 | $0 |
| Clifford Desouza | Director | March 31, 2023 J | 1,754 | 0 | 0 | $0 |
| Richard J Lieb | Director | March 31, 2023 J | 9,846 | 0 | 0 | $0 |
| David Eisenberg | Director | Jan. 19, 2023 A | 43,053 | 0 | 0 | $0 |
| Anita M Sands | Director | May 21, 2020 A | 16,910 | 0 | 0 | $0 |
| Robert W Holman JR | Director | May 16, 2019 A | 84,448 | 0 | 0 | $0 |
| Dale Anne Reiss | Director | Aug. 31, 2018 P | 2,500 | 0 | 0 | $0 |
| John G Mcdonald | Director | May 18, 2016 A | 12,000 | 0 | 0 | $0 |
| George R Puskar | Director | May 31, 2012 A | 25,800 | 0 | 0 | $0 |
| Glenn R August | Director | June 1, 2011 A | 1,012,739 | 0 | 0 | $0 |
| Jeffrey A Weber | Director | May 26, 2010 A | 70,446 | 0 | 0 | $0 |
| Willis Andersen JR | Director | Oct. 31, 2005 P | 8,112 | 0 | 0 | $0 |
| Matthew J Lustig | Director | April 8, 2004 C | 546,131 | 0 | 0 | $0 |
| Star Holdings | 10% owner | March 31, 2023 J | 13,522,651 | 0 | 0 | $0 |
| ISTAR INC. | 10% owner | March 31, 2023 J | 0 | 0 | 0 | $0 |
| Jay S Nydick | · | May 14, 2026 A | 47,336 | 0 | 0 | $0 |
| Andrew C Richardson | · | March 30, 2019 F | 26,882 | 0 | 0 | $0 |
| Catherine Rice | · | Jan. 15, 2009 F | 211,202 | 0 | 0 | $0 |
Insiders from SEC Form 3/4/5 filings; net = open-market P/S only
ETF ownership Held by 56 ETFs
Weight reflects direct equity holdings (N-PORT) only; leveraged or derivative-based funds may hold additional swap exposure not shown.
| Fund | Weight | Units | As of | Source |
|---|---|---|---|---|
| RZV · Invesco Exchange-Traded Fund Trust | 0.37% | 85,294 | Oct. 2, 2026 | Daily |
| EWUS · iShares Trust | 0.34% | 19,427 SH | Sept. 11, 2026 | Daily |
| IFGL · iShares Trust | 0.23% | 24,802 SH | Sept. 11, 2026 | Daily |
| VNQI · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.17% | 786,656 SH | Aug. 19, 2026 | Daily |
| REET · iShares Trust | 0.13% | 732,962 SH | Sept. 11, 2026 | Daily |
| ERET · iShares Trust | 0.13% | 1,938 SH | Sept. 11, 2026 | Daily |
| PSCF · Invesco Exchange-Traded Fund Trust … | 0.13% | 2,945 | Oct. 2, 2026 | Daily |
| JPSE · J.P. Morgan Exchange-Traded Fund Tr… | 0.12% | 42,191 NS | July 31, 2026 | N-PORT |
| IEUS · iShares Trust | 0.10% | 23,534 SH | Sept. 11, 2026 | Daily |
| VIOV · VANGUARD ADMIRAL FUNDS | 0.08% | 97,249 SH | Aug. 19, 2026 | Daily |
| USRT · iShares Trust | 0.07% | 212,440 SH | Sept. 11, 2026 | Daily |
| VTWV · VANGUARD SCOTTSDALE FUNDS | 0.06% | 49,576 SH | Aug. 19, 2026 | Daily |
| PDN · Invesco Exchange-Traded Fund Trust … | 0.06% | 30,006 | Oct. 2, 2026 | Daily |
| FREL · FIDELITY COVINGTON TRUST | 0.05% | 48,787 NS | July 31, 2026 | N-PORT |
| SCZ · iShares Trust | 0.04% | 752,709 SH | Sept. 11, 2026 | Daily |
| VNQ · VANGUARD SPECIALIZED FUNDS | 0.04% | 1,789,061 SH | Aug. 19, 2026 | Daily |
| VSS · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.04% | 808,900 SH | Aug. 19, 2026 | Daily |
| VIOO · VANGUARD ADMIRAL FUNDS | 0.04% | 159,843 SH | Aug. 19, 2026 | Daily |
| QVMS · Invesco Exchange-Traded Fund Trust … | 0.04% | 7,162 | Oct. 2, 2026 | Daily |
| VTWO · VANGUARD SCOTTSDALE FUNDS | 0.03% | 327,338 SH | Aug. 19, 2026 | Daily |
| RSSL · Global X Funds | 0.03% | 27,181 NS | July 31, 2026 | N-PORT |
| BBSC · J.P. Morgan Exchange-Traded Fund Tr… | 0.03% | 12,347 NS | July 31, 2026 | N-PORT |
| IWM · iShares Trust | 0.03% | 1,469,350 SH | Sept. 11, 2026 | Daily |
| OMFS · Invesco Exchange-Traded Self-Indexe… | 0.03% | 5,742 | Oct. 2, 2026 | Daily |
| WSML · iShares Trust | 0.02% | 16,670 SH | Sept. 11, 2026 | Daily |
| RWJ · Invesco Exchange-Traded Fund Trust … | 0.02% | 35,912 | Oct. 2, 2026 | Daily |
| PRFZ · Invesco Exchange-Traded Fund Trust | 0.02% | 47,223 | Oct. 2, 2026 | Daily |
| VBR · VANGUARD INDEX FUNDS | 0.02% | 783,679 SH | Aug. 19, 2026 | Daily |
| IEUR · iShares Trust | 0.01% | 126,905 SH | Sept. 11, 2026 | Daily |
| VXF · VANGUARD INDEX FUNDS | 0.01% | 527,439 SH | Aug. 19, 2026 | Daily |
| VB · VANGUARD INDEX FUNDS | 0.01% | 1,228,282 SH | Aug. 19, 2026 | Daily |
| VGK · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.01% | 511,904 SH | Aug. 19, 2026 | Daily |
| VEA · VANGUARD TAX-MANAGED FUNDS | 0.01% | 2,076,792 SH | Aug. 19, 2026 | Daily |
| VSGX · VANGUARD WORLD FUND | 0.01% | 42,955 SH | Aug. 19, 2026 | Daily |
| TILT · FlexShares Trust | 0.01% | 9,394 NS | July 31, 2026 | N-PORT |
| IEFA · iShares Trust | 0.01% | 1,690,252 SH | Sept. 11, 2026 | Daily |
| IDEV · iShares Trust | 0.01% | 257,415 SH | Sept. 10, 2026 | Daily |
| IXUS · iShares Trust | 0.00% | 302,205 SH | Sept. 11, 2026 | Daily |
| ITOT · iShares Trust | 0.00% | 78,016 SH | Sept. 11, 2026 | Daily |
| IWV · iShares Trust | 0.00% | 14,894 SH | Sept. 3, 2026 | Daily |
| VTI · VANGUARD INDEX FUNDS | 0.00% | 1,717,616 SH | Aug. 19, 2026 | Daily |
| VXUS · VANGUARD STAR FUNDS | 0.00% | 3,072,958 SH | Aug. 19, 2026 | Daily |
| VT · VANGUARD INTERNATIONAL EQUITY INDEX… | 0.00% | 169,484 SH | Aug. 19, 2026 | Daily |
| VTHR · VANGUARD SCOTTSDALE FUNDS | 0.00% | 4,458 SH | Aug. 19, 2026 | Daily |
| BSV · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| BND · VANGUARD BOND INDEX FUNDS | · | · | July 15, 2026 | Daily |
| VCSH · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VCIT · VANGUARD SCOTTSDALE FUNDS | · | · | July 15, 2026 | Daily |
| VTC · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| BNDW · VANGUARD SCOTTSDALE FUNDS | · | · | July 30, 2026 | Daily |
| IJR · iShares Trust | · | 2,804,408 SH | Sept. 10, 2026 | Daily |
| IJS · iShares Trust | · | 411,532 SH | Sept. 8, 2026 | Daily |
| IWN · iShares Trust | · | 544,130 SH | Sept. 11, 2026 | Daily |
| XJR · iShares Trust | · | 6,279 SH | Aug. 31, 2026 | Daily |
| ISCB · iShares Trust | · | 2,095 SH | Sept. 11, 2026 | Daily |
| ISCV · iShares Trust | · | 9,872 SH | Sept. 11, 2026 | Daily |
SAFE Analyst Consensus Bullish and bearish analyst opinions, 12-month price target, upside
rating · 17 analysts
BUY
Median target
$17.00
+41.0%
3 17.6%
Strong Buy
6 35.3%
Buy
7 41.2%
Hold
1 5.9%
Sell
0 0.0%
Strong Sell
12-Month Price Target
10 analysts · 2026-09-20Mean target $18.50 +53.4%
← Below all targets
Current price $12.06
Low$13.00
Mean$18.50
High$28.00
Peer comparison (GICS sub-industry) Key metrics vs sector peers
FY basis, prices as of each company's last fiscal year-end close.
| Ticker | Market Cap | P/E | Rev YoY | Net Margin | ROE | Gross Margin |
|---|---|---|---|---|---|---|
| SAFE | $982M | 8.6 | 5.4% | 29.7% | 4.8% | · |
| GLPI | $12.65B | 15.1 | 4.1% | 51.7% | 18.6% | · |
| OUT | $4.22B | 29.4 | 0.04% | 8.0% | 23.5% | · |
| EPR | · | 15.2 | 2.9% | 38.3% | 11.8% | · |
| MRP | · | 12.2 | · | 63.3% | 6.5% | · |
| FCPT | $2.49B | 21.2 | 9.7% | 38.2% | 7.2% | · |
| FPI | $418M | 15.9 | -10.4% | 60.5% | 6.7% | · |
| LAND | $348M | -31.6 | 3.7% | 15.3% | 2.0% | · |
| IRM | $24.54B | 169.3 | 12.2% | 2.2% | -20.5% | · |
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Source: SEC 10-Q filed Jul 31, 2026