Safehold (SAFE) Operating Expenses (2010 - 2026)
Safehold (SAFE) reported Operating Expenses of $86.39 million for Q2 2026, up 23.6% from $69.92 million a year earlier and up 1.3% from the prior quarter.
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Analysis
Safehold (SAFE) Operating Expenses (2010 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, Safehold's Operating Expenses came in at $314.05 million, up 9.7% year-over-year; for FY2025, it came in at $284.65 million, up 2.2% from FY2024.
- Operating Expenses has a five-year compound annual growth rate of -9.7% (FY2020 to FY2025).
- By year, Operating Expenses came in at $278.6 million in FY2024 (-35.2%), $430.1 million in FY2023 (+125.8%), $190.5 million in FY2022 (+56.7%) and $121.55 million in FY2021 (-74.4%).
- The Q2 2026 figure ranks as the highest quarterly Operating Expenses since Q3 2023.
- Year over year, Operating Expenses has now increased in each of the last three quarters, with an average decline of 1.7% over the last eight quarters.
- The high point for year-over-year Operating Expenses in five years was Q3 2023 (growth of 297.0%); the low point was Q3 2024 (a decline of 65.3%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $85.31 million (Q1 2026), $71.07 million (Q4 2025) and $71.28 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Welltower | 166.01 Bn | 148.52 Bn | 1.39 Bn | 3.22 Bn |
| 2 | Prologis | 121.16 Bn | 125.55 Bn | - | 1.47 Bn |
| 3 | Simon Property | 65.49 Bn | 66.75 Bn | - | 900.79 Mn |
| 4 | Realty Income | 51.38 Bn | 53.76 Bn | - | 1.19 Bn |
| 5 | Public Storage | 49.67 Bn | 48.75 Bn | - | 766.20 Mn |
| 6 | Ventas | 43.61 Bn | 42.81 Bn | - | 1.68 Bn |
| 7 | Extra Space Storage | 27.79 Bn | 27.79 Bn | 642.43 Mn | 481.97 Mn |
| 8 | Vici Properties | 25.29 Bn | 23.41 Bn | 1.05 Bn | 315.61 Mn |
| 9 | Vivmark Residential | 22.78 Bn | 22.97 Bn | - | 566.18 Mn |
| 10 | Safehold | 835.63 Mn | 959.68 Mn | 113.88 Mn | 86.39 Mn |
Historic Data
Download Data
Historic 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 |
API Access
Safehold Operating Expenses 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=operating-expenses&ticker=SAFE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "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=operating-expenses&ticker=SAFE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();