Safehold (SAFE) Below-Market Lease Liabilities (2010 - 2026)
Safehold (SAFE) reported Below-Market Lease Liabilities of $61.46 million for Q3 2026, down 1.3% from $62.3 million a year earlier and down 0.3% from the prior quarter.
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Analysis
Safehold (SAFE) Below-Market Lease Liabilities (2010 - 2026) Analysis & Trends
At the end of FY2025, Safehold posted Below-Market Lease Liabilities of $62.09 million, down 1.3% from FY2024.
- Below-Market Lease Liabilities has declined for three consecutive years, though with a five-year compound annual growth rate of 5.0% (FY2020 to FY2025).
- By year, Below-Market Lease Liabilities came in at $62.92 million in FY2024 (-1.3%), $63.76 million in FY2023 (-1.3%) and $64.59 million in FY2022.
- The Q3 2026 figure ranks as the lowest quarterly Below-Market Lease Liabilities since Q3 2021.
- Year over year, Below-Market Lease Liabilities has now declined in each of the last 12 quarters, with an average decline of 1.3% over the last eight quarters.
- Per Business Quant data, the three quarters before Q3 2026 came in at $61.67 million (Q2 2026), $61.88 million (Q1 2026) and $62.09 million (Q4 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Below-Market Lease Liabilities (Qtr) |
|---|---|---|---|---|---|
| 1 | Welltower | 179.36 Bn | 166.43 Bn | 1.47 Bn | - |
| 2 | Prologis | 122.34 Bn | 120.73 Bn | - | - |
| 3 | Simon Property | 79.95 Bn | 78.05 Bn | - | - |
| 4 | Public Storage | 62.14 Bn | 61.58 Bn | 112.08 Mn | - |
| 5 | Realty Income | 55.95 Bn | 57.33 Bn | - | 1.46 Bn |
| 6 | Ventas | 47.02 Bn | 46.18 Bn | -3.39 Bn | - |
| 7 | Ryman Hospitality Properties | 46.62 Bn | 45.46 Bn | 266.41 Mn | - |
| 8 | Vivmark Residential | 37.34 Bn | 37.09 Bn | - | - |
| 9 | Extra Space Storage | 33.12 Bn | 32.90 Bn | 650.96 Mn | - |
| 10 | Safehold | 696.84 Mn | 806.74 Mn | 117.89 Mn | 61.46 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Sep 30, 2026 | 61.46 Mn |
| Jun 30, 2026 | 61.67 Mn |
| Mar 31, 2026 | 61.88 Mn |
| Dec 31, 2025 | 62.09 Mn |
| Sep 30, 2025 | 62.30 Mn |
| Jun 30, 2025 | 62.51 Mn |
| Mar 31, 2025 | 62.71 Mn |
| Dec 31, 2024 | 62.92 Mn |
| Sep 30, 2024 | 63.13 Mn |
| Jun 30, 2024 | 63.34 Mn |
| Mar 31, 2024 | 63.55 Mn |
| Dec 31, 2023 | 63.76 Mn |
| Sep 30, 2023 | 63.96 Mn |
| Jun 30, 2023 | 64.17 Mn |
| Mar 31, 2023 | 64.38 Mn |
| Dec 31, 2022 | 64.59 Mn |
| Sep 30, 2021 | 46.87 Mn |
| Jun 30, 2021 | 47.49 Mn |
| Dec 31, 2020 | 48.74 Mn |
| Sep 30, 2012 | 13,602.00 |
API Access
Safehold Below-Market Lease Liabilities API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=below-market-lease-liabilities&ticker=SAFE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "below-market-lease-liabilities", "ticker": "SAFE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=below-market-lease-liabilities&ticker=SAFE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();