Safehold Inc. (SAFE)

In the past six months, Safehold announced its third-quarter 2025 earnings release date for November 5, 2025, with analysts expecting earnings of $0.40 per share and revenue of $95.245 million. Safehold reported its second-quarter 2025 results on August 5, 2025, with revenue of $93.8 million and earnings per share of $0.39, meeting consensus estimates. During Q2 2025, Safehold closed $220 million in originations, including $123 million in ground leases and $97 million in leasehold loans. The company declared a common stock dividend of $0.177 per share for the third quarter of 2025, payable on October 15, 2025. Analyst ratings for Safehold have generally been "Hold," with an average 12-month price objective around $19.89. Some analysts have adjusted their price targets, with Truist Financial lowering theirs to $16.00 from $18.00 in September 2025, and JPMorgan Chase & Co. lowering theirs to $19.00 from $20.00 in July 2025. Cantor Fitzgerald initiated coverage with a "Neutral" rating and a $17.00 price target in October 2025. Safehold's stock has shown mixed performance, with gains over the past three months but losses for the year, and a one-year total shareholder return drop of over 30%.

Safehold's business model, centered on long-term ground leases, is designed to be resilient to typical business cycles and does not exhibit significant demand seasonality. Ground leases typically span 30-99 years, providing a predictable and long-term income stream. These lease agreements often include inflation-protected rent escalations, further safeguarding revenue from economic fluctuations. Demand for innovative real estate capital structures like ground leases is reportedly rising among institutional owners and developers.

Safehold, Inc. is a REIT that leads the modern ground lease industry in the United States. The company acquires, manages, and capitalizes ground leases for various high-quality commercial real estate projects, providing capital solutions by owning the land and leasing it to building owners/operators. Safehold's services include ground lease capital solutions for multifamily, office, industrial, hospitality, student housing, life science, and mixed-use properties, as well as "one-stop capital solutions" combining ground leases with short-term loan accelerators.

Safehold's geographic footprint extends across major markets throughout the United States, with a notable presence in key metropolitan areas, including New York City. The company has expanded its focus on affordable housing, closing a ground lease for an affordable housing development in the San Fernando Valley area of Los Angeles, California, in October 2025.

Safehold has established a reputation as the creator and leader of the modern ground lease industry since its inception in 2017. The company is recognized for its focus on high-quality, institutional-grade properties and for providing a stable, long-term capital solution to real estate owners. Safehold has garnered positive attention for its expansion into the affordable housing sector, establishing a dedicated Affordable Housing team and closing a ground lease for an affordable housing community in Los Angeles, California. Safehold's ESG Risk Rating as of September 3, 2025, is "Low," with "None" for the highest controversy level.

Institutional investors hold approximately 70.38% of Safehold Inc.'s stock. Some institutional investors have recently adjusted their positions; for example, New York State Teachers Retirement System increased its stake by 12.1% in the first quarter of 2025, and Peregrine Capital Management LLC boosted its holdings by 9.0% in the same period. Principal Financial Group Inc. also increased its stake by 2.7% in the first quarter. Insider shareholders own 3.50% of the stock.