Safehold (SAFE) Operating Expenses (2010 - 2026)
Safehold (SAFE) posted quarterly Operating Expenses of $86.4 million for Q2 2026, up 23.55% year-over-year from $69.9 million in Q2 2025, and up 1.27% on a QoQ basis from $85.3 million in Q1 2026.
Safehold (SAFE) Operating Expenses (2010 - 2026) Analysis & Trends
Safehold has reported Operating Expenses for 17 years, with the latest figure at $86.4 million in Q2 2026.
- Operating Expenses for Q2 2026 came in at $86.4 million, up 23.55% year-over-year; the trailing twelve-month figure through Jun 2026 was $314.1 million (up 9.66% YoY), and the FY2025 annual result was $284.7 million, up 2.17% from the prior year.
- Operating Expenses climbed to $86.4 million in Q2 2026, from $85.3 million in the prior quarter.
- Over five years, Operating Expenses peaked at $215.8 million in Q3 2023 and troughed at $37.7 million in Q1 2022.
- A 5-year average of $75.3 million and a median of $69.9 million in 2023 frame the typical range for Operating Expenses.
- The widest annual swing landed in 2023, when Operating Expenses soared 296.99%; it then slumped 65.32% in 2024.
- A 5-year view of Operating Expenses shows it stood at $54.0 million in 2022, then increased by 27.07% to $68.6 million in 2023, then gained by 0.96% to $69.2 million in 2024, then advanced by 2.64% to $71.1 million in 2025, then grew by 21.55% to $86.4 million in 2026.
- Per Business Quant data, the three most recent Operating Expenses figures were $86.4 million in Q2 2026, $85.3 million in Q1 2026, and $71.1 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Vici Properties | 29.04 Bn | 28.60 Bn | 1.05 Bn | 315.61 Mn |
| 2 | W. P. Carey | 16.30 Bn | 16.30 Bn | 441.59 Mn | 297.54 Mn |
| 3 | Broadstone Net Lease | 4.04 Bn | 4.03 Bn | - | 70.36 Mn |
| 4 | Global Net Lease | 1.92 Bn | 1.77 Bn | - | 80.99 Mn |
| 5 | American Assets Trust | 1.39 Bn | 1.39 Bn | - | 83.18 Mn |
| 6 | Safehold | 1.10 Bn | -2.59 Bn | 113.88 Mn | 86.39 Mn |
| 7 | Cim | 1.05 Bn | 2.41 Bn | - | 85.94 Mn |
| 8 | Empire State Realty Trust | 821.84 Mn | 821.84 Mn | - | 335.61 Mn |
| 9 | CTO Realty Growth | 768.00 Mn | 768.00 Mn | 32.71 Mn | 32.69 Mn |
| 10 | JBG SMITH Properties | 721.56 Mn | 721.56 Mn | - | 125.52 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 86.39 Mn |
| Mar 31, 2026 | 85.31 Mn |
| Dec 31, 2025 | 71.07 Mn |
| Sep 30, 2025 | 71.28 Mn |
| Jun 30, 2025 | 69.92 Mn |
| Mar 31, 2025 | 72.38 Mn |
| Dec 31, 2024 | 69.25 Mn |
| Sep 30, 2024 | 74.83 Mn |
| Jun 30, 2024 | 65.90 Mn |
| Mar 31, 2024 | 68.63 Mn |
| Dec 31, 2023 | 68.59 Mn |
| Sep 30, 2023 | 215.80 Mn |
| Jun 30, 2023 | 69.83 Mn |
| Mar 31, 2023 | 75.88 Mn |
| Dec 31, 2022 | 53.98 Mn |
| Sep 30, 2022 | 54.36 Mn |
| Jun 30, 2022 | 44.43 Mn |
| Mar 31, 2022 | 37.73 Mn |
| Dec 31, 2021 | -215.26 Mn |
| Sep 30, 2021 | 147.70 Mn |