SAFE Stock Analysis: Safehold | NYSE
REIT - Diversified | NYSE, USA | Market Cap: 1.154m USD | 12M Return: 18.7% | Charts, Fundamentals & Technical Analysis
Avg Turnover: 5.42M
EPS Trend: 76.0%
Qual. Beats: -1
Rev. Trend: 84.9%
Qual. Beats: 1
Warnings
Tailwinds
No distinct edge detected
Seasonality 10.5 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Safehold Inc. (NYSE: SAFE) is a real estate company that created the modern ground lease industry in 2017, offering property owners a way to unlock the value of underlying land while retaining ownership of their buildings. Its portfolio spans ground leases on multifamily, affordable housing, office, industrial, hospitality, student housing, life science, and mixed-use assets. The company is structured as a real estate investment trust (REIT), a designation requiring it to distribute the majority of its taxable income to shareholders, and was incorporated in 2016, headquartered in New York. Since its IPO in June 2017, Safehold has grown to a small-cap valuation of approximately $1.1 billion USD, operating within the Other Specialized REITs sub-industry. Ground leases function by separating the ownership of land from the improvements built on it, providing building owners with long-term capital in exchange for periodic lease payments.
- Ground lease portfolio growth accelerates across multifamily and office
- Interest rate hikes compress investment spreads and capital deployment
- Capital recycling into higher-yielding ground lease assets expands margins
| Net Income: 114.0m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.00 > 0.02 and ΔFCF/TA -0.31 > 1.0 |
| NWC/Revenue: 604.4% < 20% (prev 567.2%; Δ 37.16% < -1%) |
| CFO/TA 0.00 > 3% & CFO 30.3m > Net Income 114.0m |
| Net Debt (4.59b) to EBITDA (335.2m): 13.69 < 3 |
| Current Ratio: 18.82 > 1.5 & < 3 |
| Outstanding Shares: last quarter (72.0m) vs 12m ago 0.47% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 5.49% > 50% (prev 5.34%; Δ 0.15% > 0%) |
| Interest Coverage Ratio: 1.56 > 6 (EBIT TTM 326.3m / Interest Expense TTM 209.5m) |
| A: 0.32 (Total Current Assets 2.51b - Total Current Liabilities 133.2m) / Total Assets 7.38b |
| B: 0.02 (Retained Earnings 181.8m / Total Assets 7.38b) |
| C: 0.05 (EBIT TTM 326.3m / Avg Total Assets 7.16b) |
| D: 0.49 (Book Value of Equity 2.43b / Total Liabilities 4.92b) |
| Altman-Z'' = 3.01 = A |
| DSRI: 1.07 (Receivables 2.48b/2.19b, Revenue 392.6m/370.1m) |
| GMI: 1.01 (GM 98.84% / 97.54%) |
| AQI: 0.97 (AQ_t 0.66 / AQ_t-1 0.68) |
| SGI: 1.06 (Revenue 392.6m / 370.1m) |
| TATA: 0.01 (NI 114.0m - CFO 30.3m) / TA 7.38b) |
| Beneish M = -2.93 (Cap -4..+1) = A |
As of July 17, 2026, the stock is trading at USD 17.17 with a total of 299,003 shares traded. Over the past week, the price has changed by +5.21%, over one month by +10.64%, over three months by +14.13% and over the past year by +18.72%.
Current recommended Stop Loss: 16.00 (which is 6.8% or 2.5 ATR below the current price).
Safehold has received a consensus analysts rating of 3.73. Therefore, it is recommended to hold SAFE.
- StrongBuy: 2
- Buy: 4
- Hold: 5
- Sell: 0
- StrongSell: 0
| Analysts Target Price | 18.7 | 9.1% |
P/E Trailing = 10.1962
P/E Forward = 9.6432
P/S = 2.7688
P/B = 0.4751
P/EG = 0.65
Revenue TTM = 392.6m USD
EBIT TTM = 326.3m USD
EBITDA TTM = 335.2m USD
Long Term Debt = 4.60b USD (from longTermDebt, last quarter)
Short Term Debt = 532k USD (from shortTermDebt, last quarter)
Debt = 4.61b USD (from shortLongTermDebtTotal, last quarter) + Leases 5.59m
Net Debt = 4.59b USD (calculated: Debt 4.61b - CCE 20.1m)
Enterprise Value = 5.74b USD (1.15b + Debt 4.61b - CCE 20.1m)
Interest Coverage Ratio = 1.56 (Ebit TTM 326.3m / Interest Expense TTM 209.5m)
EV/FCF = 189.4x (Enterprise Value 5.74b / FCF TTM 30.3m)
FCF Yield = 0.53% (FCF TTM 30.3m / Enterprise Value 5.74b)
FCF Margin = 7.72% (FCF TTM 30.3m / Revenue TTM 392.6m)
Net Margin = 29.03% (Net Income TTM 114.0m / Revenue TTM 392.6m)
Gross Margin = unknown ((Revenue TTM 392.6m - Cost of Revenue TTM 9.67m) / Revenue TTM)
Tobins Q-Ratio = 0.78 (Enterprise Value 5.74b / Total Assets 7.38b)
Interest Expense / Debt = 4.55% (Interest Expense 209.5m / Debt 4.61b)
Taxrate = 2.34% (2.73m / 116.9m)
NOPAT = 318.7m (EBIT 326.3m * (1 - 2.34%))
Current Ratio = 18.82 (Total Current Assets 2.51b / Total Current Liabilities 133.2m)
Debt / Equity = 1.90 (Debt 4.61b / totalStockholderEquity, last quarter 2.43b)
Debt / EBITDA = 13.69 (Net Debt 4.59b / EBITDA 335.2m)
Debt / FCF = 151.3 (Net Debt 4.59b / FCF TTM 30.3m)
Total Stockholder Equity = 2.40b (last 4 quarters mean from totalStockholderEquity)
RoA = 1.59% (Net Income 114.0m / Total Assets 7.38b)
RoE = 4.75% (Net Income TTM 114.0m / Total Stockholder Equity 2.40b)
RoCE = 4.66% (EBIT 326.3m / Capital Employed (Equity 2.40b + L.T.Debt 4.60b))
RoIC = 4.41% (NOPAT 318.7m / Invested Capital 7.23b)
WACC = 4.89% (E(1.15b)/V(5.76b) * Re(6.71%) + D(4.61b)/V(5.76b) * Rd(4.55%) * (1-Tc(0.02)))
Discount Rate = 6.71% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 97.19 | Cagr: 0.54%
[DCF] Terminal Value 73.10% ; FCFF base≈38.1m ; Y1≈33.4m ; Y5≈27.0m
[DCF] Fair Price = N/A (negative equity: EV 433.5m - Net Debt 4.59b = -4.15b; debt exceeds intrinsic value)
EPS Correlation: 76.00 | EPS CAGR: 3.41% | SUE: -2.00 | # QB: -1
Revenue Correlation: 84.92 | Revenue CAGR: 6.93% | SUE: 3.52 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.42 | Chg30d=+0.17% | Revisions=+0% | Analysts=7
EPS next Quarter (2026-09-30): EPS=0.45 | Chg30d=+0.07% | Revisions=-25% | Analysts=7
EPS current Year (2026-12-31): EPS=1.65 | Chg30d=-0.60% | Revisions=-50% | GrowthEPS=-0.3% | GrowthRev=+15.8%
EPS next Year (2027-12-31): EPS=1.73 | Chg30d=-0.41% | Revisions=-57% | GrowthEPS=+5.3% | GrowthRev=+5.2%
[Analyst] Revisions Ratio: -62% (up=1, down=9)