Safehold (SAFE)

• Market cap: $1.39B
• 1 day: -1.27%
• 5 days: -4.22%
• 1 month: -4.50%
• 3 months: -27.61%
• 6 months: 5.40%
• Year to date: -17.68%
• 1 year: -11.92%
• 5 years: -50.92%
• 10 years: 2.68%
• Sector: Financials
• Industry: Real Estate Investment Trusts

About: Safehold Inc is a REIT that operates its business by acquiring, managing and capitalizing ground leases. Ground leases are long-term contracts between the landlord (the Company) and a tenant or leaseholder. Ground leases generally represent ownership of the land underlying commercial real estate projects that is net leased by the fee owner of the land to the owners/operators of the real estate projects built thereon.

Fund manager confidence

Based on 2024 Q3 regulatory filings by fund managers ($100M+ AUM)

122% more first-time investments, than exits

New positions opened: 40 | Existing positions closed: 18

67% more funds holding in top 10

Funds holding in top 10: 3 [Q2] → 5 (+2) [Q3]

44% more call options, than puts

Call options by funds: $5.86M | Put options by funds: $4.06M

36% more capital invested

Capital invested by funds: $966M [Q2] → $1.32B (+$352M) [Q3]

12% more funds holding

Funds holding: 183 [Q2] → 205 (+22) [Q3]

5% more repeat investments, than reductions

Existing positions increased: 64 | Existing positions reduced: 61

0.32% more ownership

Funds ownership: 70.06% [Q2] → 70.39% (+0.32%) [Q3]

Research analyst outlook

4 Wall Street Analysts provided 1 year price targets over the past 3 months

• Low target: $25 28% upside
• Avg. target: $30 55% upside
• High target: $35 79% upside

4 analyst ratings

• positive: 3 75%
• neutral: 1 25%
• negative: 0 0%

Goldman Sachs Caitlin Burrows 35% 1-year accuracy 9 / 26 met price target	54% upside $30	Buy Maintained	1 Nov 2024
Mizuho Haendel St. Juste 53% 1-year accuracy 8 / 15 met price target	28% upside $25	Neutral Maintained	31 Oct 2024
RBC Capital Kenneth Lee 69% 1-year accuracy 45 / 65 met price target	59% upside $31	Outperform Maintained	30 Oct 2024
JMP Securities Mitch Germain 53% 1-year accuracy 18 / 34 met price target	79% upside $35	Market Outperform Reiterated	29 Oct 2024