Safehold Inc. (NYSE:SAFE) Q2 2024 Earnings Conference Call July 30, 2024 9:00 AM ET

Company Participants

Pearse Hoffmann - Senior Vice President of Capital Markets and Investor Relations
Jay Sugarman - Chairman and Chief Executive Officer
Brett Asnas - Chief Financial Officer
Tim Doherty - Chief Investment Officer

Conference Call Participants

Nate Crossett - BNP Paribas
Caitlin Burrows - Goldman Sachs
Anthony Paolone - J.P. Morgan
Mitch Germain - Citizens JMP
Harsh Hemnani - Green Street
Ravi Vaidya - Mizuho
Stephen Laws - Raymond James
Kenneth Lee - RBC Capital Markets
Kelly Kunath - Morgan Stanley
Matt Howlett - B. Riley

Operator

Good morning, and welcome to Safehold’s Second Quarter 2024 Earnings Conference Call. [Operator Instructions] As a reminder, today’s conference is being recorded.

At this time, for opening remarks and introductions, I would like to turn the conference over to Pearse Hoffmann, Senior Vice President of Capital Markets and Investor Relations. Please go ahead, sir.

Pearse Hoffmann

Good morning, everyone, and thank you for joining us today for Safehold’s earnings call. On the call today, we have Jay Sugarman, Chairman and Chief Executive Officer; Brett Asnas, Chief Financial Officer; and Tim Doherty, Chief Investment Officer.

This morning, we plan to walk through a presentation that details our second quarter 2024 results. The presentation can be found on our website at safeholdinc.com by clicking on the Investors link. There will be a replay of this conference call beginning at 2:00 P.M. Eastern Time today. The dial-in for the replay is 877-481-4010 with a confirmation code of 50921. In order to accommodate all those who want to ask questions, we ask that participants limit themselves to two questions during Q&A. If you’d like to ask additional questions, you may re-enter the queue.

Before I turn the call over to Jay, I would like to remind everyone that statements in this earnings call, which are not historical facts, may be forward-looking. Our actual results may differ materially from these forward-looking statements and the risk factors that could cause these differences are detailed in our SEC reports. Safehold disclaims any intent or obligation to update these forward-looking statements except as expressly required by law.

Now with that, I’d like to turn it over to Chairman and CEO, Jay Sugarman. Jay?

Jay Sugarman

Thanks, Pearse, and thanks to all of you for joining us this morning.

The second quarter was highlighted by solid earnings, attractive deals and progress on G&A. New originations improved, but the smaller dollar size and allocations to our Sovereign Wealth partner under our existing JV limited the net origination number. That said, we were pleased to see activity pick up and with the overall level of customer engagement.