iStar STAR And Safehold SAFE Seek Simplicity

The inclusion of the “I” is important as it recognizes the importance of taking the information from all the sensors and processing it into useful knowledge. Information is collected on the battlefield through systematic observation by deployed soldiers and a variety of electronic sensors. Surveillance, target acquisition and reconnaissance are methods of obtaining this information. The information is then passed to intelligence personnel for analysis, and then to the commander and their staff for the formulation of battle plans. Intelligence is processed information that is relevant and contributes to an understanding of the ground, and of enemy dispositions and intents.

  • They also purchased 1% of the Safehold Caret units for $20M, implying a $2B valuation from them all.
  • Safehold will be almost entirely a pure-play, ground-lease company and soon should have a credit rating at the A level.
  • © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions.
  • As a ground lease investor, you only own the land and rent this land to a building owner who has the ownership and control of the improvements on top of the land during the entire lease term.

Upgrade to MarketBeat All Access to add more stocks to your watchlist. 8 employees have rated iStar Chief Executive Officer Jay Sugarman on Jay Sugarman has an approval rating of 100% among the company’s employees. This puts Jay Sugarman in the top 10% of approval ratings compared to other CEOs of publicly-traded companies.

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Jussi Askola is the President of Leonberg Capital, a value-oriented investment boutique that consults hedge funds, family offices, and private equity firms on REIT investing. He has authored award-winning academic papers on REIT investing, has passed all three CFA exams, and has built relationships with many top REIT executives. If you want full access to our Portfolio and all our current Top Picks, feel free to join us for a 2-week free trial at High Yield Investor. This appears to be misunderstood and yet, it is an important element of the company’s protection against inflation. For more information regarding the merger, please refer to the definitive Joint Proxy Statement/Prospectus, dated January 30, 2023, as filed with the Securities and Exchange Commission (“SEC”). For more information about the spin-off, please see Star Holdings’ Information Statement, dated March 22, 2023, as filed with the SEC.

Simultaneous with the announcement of the combination was another announcement that is possibly of greater import for shareholders. MSD Partners not only purchased $200M of shares of SAFE from iStar. They also purchased 1% of the Safehold Caret units for $20M, implying a $2B valuation from them all. Some people have asked, “Can’t you just sell the whole thing at once?” I think that’s not the path at Asbury, it’s not realistic. We’re the master developer, all roads lead to us and we’ve got a lot of projects in process already that we would not be able to turn over to somebody new.

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Tomi Kilgore is MarketWatch’s deputy investing and corporate news editor and is based in New York. The information contained herein does not constitute investment advice and made available for educational purposes only. Prices and returns on equities are listed without consideration of fees, commissions, taxes, penalties, or interest payable due to purchasing, holding, or selling. The current iStar Inc. volatility is 16.59%, representing the average percentage change in the investments’s value, either up or down over the past month. According to 7 analysts, the average rating for SAFE stock is “Buy.” The 12-month stock price forecast is $28.33, which is an increase of 29.42% from the latest price. Get a roundup of the most important and intriguing national stories delivered to your inbox every weekday.

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Safehold was founded to buy land and lease it using modern ground leases. Finally, if SAFE can sell a larger portion of its UCA to other investors, this could unlock a lot of cheap capital for the company to close more ground leases. It is still an untapped source of capital that should play a growing role in SAFE’s growth going forward.

Is there any hope for winter sports?

Although iStar believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, the Company can give no assurance that its expectations will be attained. The Company undertakes no obligation to update or publicly revise any forward-looking statement, whether as a result of new information, future events or otherwise. © 2023 Market data provided is at least 10-minutes delayed and hosted by Barchart Solutions. Information is provided ‘as-is’ and solely for informational purposes, not for trading purposes or advice, and is delayed. To see all exchange delays and terms of use please see Barchart’s disclaimer. ISTAR is the process of integrating the intelligence process with surveillance, target acquisition and reconnaissance tasks in order to improve a commander’s situational awareness and consequently their decision making.

Some analysts have previously argued that if you discount its value back to today, it isn’t meaningful. Even despite the high current inflation, the market expectation is for only 2.49% annual inflation over the coming 30-years according to the Federal Reserve. SAFE typically has 2% annual rent hikes in its leases and in addition to that, it also has periodic upward rent adjustments in the form of capped CPI lookbacks when inflation stays above 2% for extended periods of time.

For one, the market isn’t giving any credit for the value of the UCA and so whatever they can do to unlock its value should have a positive impact on SAFE’s future share price. Most investors appear to believe that the “UCA” is a lie and that its real value is close to zero. After all, what’s the present value of a building that you will receive 99 years from now?