The real estate investment trust that posted the strongest returns last year doesn’t own any buildings — just $2.7 billion worth of land underneath them. Safehold, the ground lease REIT managed by iStar, saw total stock returns of 118 percent in 2019, the firm announced Thursday morning in its fourth-quarter earnings, while the company’s portfolio grew by 187 percent over the same period. Revenue increased 88 percent to $93.4 million while net earnings rose 136
source https://therealdeal.com/2020/02/13/safehold-was-top-performing-reit-of-2019-and-doesnt-own-any-buildings/
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