(SAFE) Safehold - Overview
Sector: Real Estate | Industry: REIT - Diversified | Exchange: NYSE (USA) | Market Cap: 1.063m USD | Total Return: 5.6% in 12m
Avg Turnover: 5.11M
EPS Trend: 76.0%
Qual. Beats: -1
Rev. Trend: 84.9%
Qual. Beats: 1
Warnings
High Debt/EBITDA (13.7) with thin interest coverage (1.6)
Choppy
Tailwinds
No distinct edge detected
Safehold Inc. (NYSE: SAFE) is a specialized Real Estate Investment Trust (REIT) focused on the modern ground lease industry. The company’s business model involves decoupling the ownership of land from the improvements built upon it, allowing property owners to monetize land value while retaining ownership of the buildings. This structure typically utilizes long-term leases, often spanning 99 years, which provide the REIT with a predictable, senior-position income stream.
The company targets a diversified portfolio of high-quality assets, including multifamily, office, industrial, and life science properties. Ground leases are considered lower-risk investments within the real estate capital stack because the landowner’s interest is senior to the leaseholder’s mortgage. Investors looking for deeper insights into these structural advantages may find further data on ValueRay useful for their due diligence. Safehold aims to leverage this model to generate long-term capital appreciation and consistent dividend growth for its shareholders.
- Interest rate fluctuations impact cost of debt and net interest margins
- Ground lease adoption rates across high-quality commercial real estate sectors
- Unrealized capital appreciation of land holdings at lease expiration
- Credit quality and performance of underlying building owner tenants
- Long-term inflation protection through contractual rent escalations and revaluations
| 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 (EBITDA TTM 335.2m / 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: 0.05 (Book Value of Equity 230.0m / Total Liabilities 4.92b) |
| Altman-Z'' = 2.54 = A |
| DSRI: 1.07 (Receivables 2.48b/2.19b, Revenue 392.6m/370.1m) |
| GMI: 1.01 (GM 97.54% / 98.84%) |
| 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 = -2.92 (Cap -4..+1) = A |
As of June 01, 2026, the stock is trading at USD 14.97 with a total of 360,245 shares traded.
Over the past week, the price has changed by +3.53%,
over one month by -6.55%,
over three months by -6.49% and
over the past year by +5.56%.
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 | 25.1% |
P/E Trailing = 9.3987
P/E Forward = 8.7951
P/S = 2.5771
P/B = 0.4332
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 = 5.65b USD (1.06b + Debt 4.61b - CCE 20.1m)
Interest Coverage Ratio = 1.56 (Ebit TTM 326.3m / Interest Expense TTM 209.5m)
EV/FCF = 186.4x (Enterprise Value 5.65b / FCF TTM 30.3m)
FCF Yield = 0.54% (FCF TTM 30.3m / Enterprise Value 5.65b)
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 = 0.77 (Enterprise Value 5.65b / Total Assets 7.38b)
Interest Expense / Debt = 4.55% (Interest Expense 209.5m / Debt 4.61b)
Taxrate = 2.32% (685k / 29.6m)
NOPAT = 318.8m (EBIT 326.3m * (1 - 2.32%))
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 318.8m / Invested Capital 7.23b)
WACC = 4.91% (E(1.06b)/V(5.67b) * Re(6.96%) + D(4.61b)/V(5.67b) * Rd(4.55%) * (1-Tc(0.02)))
Discount Rate = 6.96% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 91.11 | 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: -1.97 | # QB: -1
Revenue Correlation: 84.92 | Revenue CAGR: 6.93% | SUE: 3.52 | # QB: 1
EPS current Quarter (2026-06-30): EPS=0.41 | Chg30d=-2.19% | Revisions=-11% | Analysts=6
EPS next Quarter (2026-09-30): EPS=0.45 | Chg30d=+0.27% | Revisions=-14% | Analysts=6
EPS current Year (2026-12-31): EPS=1.66 | Chg30d=-3.42% | Revisions=-60% | GrowthEPS=+0.4% | GrowthRev=+14.1%
EPS next Year (2027-12-31): EPS=1.74 | Chg30d=-1.77% | Revisions=-40% | GrowthEPS=+5.1% | GrowthRev=+5.0%
[Analyst] Revisions Ratio: -60%