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Earnings Per Share

6 Months Ended

Jun. 30, 2024

Earnings Per Share [Abstract]

Earnings Per Share

Note 13—Earnings Per Share

Earnings per share (“EPS”) is calculated by dividing net income attributable to common shareholders by the weighted average number of shares outstanding for the period. The following tables present a reconciliation of net income used in the basic and diluted EPS calculations ($ and shares in thousands, except for per share data):


		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2024			2023			2024			2023
Net income (loss)		$	29,555		$	22,111		$	60,584		$	26,827
Net (income) loss attributable to noncontrolling interests			110			19			(191)			(15)
Net income (loss) attributable to Safehold Inc. common shareholders for basic and diluted earnings per common share		$	29,665		$	22,130		$	60,393		$	26,812


		Three Months Ended						Six Months Ended
		June 30,						June 30,
		2024			2023			2024			2023
Earnings attributable to common shares:
Numerator for basic and diluted earnings per share:
Net income (loss) attributable to Safehold Inc. common shareholders - basic		$	29,665		$	22,130		$	60,393		$	26,812
Net income (loss) attributable to Safehold Inc. common shareholders - diluted		$	29,665		$	22,130		$	60,393		$	26,812

Denominator for basic and diluted earnings per share:⁽¹⁾
Weighted average common shares outstanding for basic earnings per common share			71,435			63,944			71,303			63,809
Add: Effect of assumed shares under treasury stock method for restricted stock units			27			—			48			—
Weighted average common shares outstanding for diluted earnings per common share			71,462			63,944			71,351			63,809

Basic and diluted earnings per common share:⁽¹⁾
Net income (loss) attributable to Safehold Inc. common shareholders - basic		$	0.42		$	0.35		$	0.85		$	0.42
Net income (loss) attributable to Safehold Inc. common shareholders - diluted		$	0.42		$	0.35		$	0.85		$	0.42

(1)

For the three months ended June 30, 2024 and 2023, the effect of 9 thousand and 452 thousand, respectively, of the Company’s restricted stock awards were antidilutive. For the six months ended June 30, 2024 and 2023, the effect of 31 thousand and 456 thousand, respectively, of the Company’s restricted stock awards were antidilutive.