Safehold Inc. (NYSE: SAFE) shares lost ground in the first hour Friday, on the announcement that the Company's Board of Directors has declared common stock dividends of $0.177 per share for the fourth quarter of 2024. The dividend represents an annualized rate of $0.708 per share and is payable on January 15, 2025 to holders of record on December 30, 2024.
Safehold claims to be “revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings.” Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders.
The company was in the news in November, when it told investors announced today that S&P Global Ratings had assigned the Company an initial credit rating of BBB+ with a positive outlook. S&P is also assigning a BBB+ rating and positive outlook to the Company's operating subsidiary, Safehold GL Holdings LLC.
SAFE shares dipped 19 cents, or 1%, to $20.31.
