Safehold Inc.

NYSE:SAFE 주식 리포트

시가총액: US$1.1b

Safehold 과거 순이익 실적

과거 기준 점검 5/6

Safehold은 연평균 4.9%의 비율로 수입이 증가해 온 반면, Specialized REITs 산업은 수입이 8.3% 증가했습니다. 매출은 연평균 17.8%의 비율로 증가했습니다. Safehold의 자기자본이익률은 4.6%이고 순이익률은 27.4%입니다.

핵심 정보

4.87%

순이익 성장률

-1.91%

주당순이익(EPS) 성장률

Specialized REITs 산업 성장률18.00%
매출 성장률17.82%
자기자본이익률4.64%
순이익률27.35%
최근 순이익 업데이트31 Mar 2026

최근 과거 실적 업데이트

Recent updates

내러티브 업데이트 • Jun 02

SAFE: Affordable Housing Ground Leases And Buybacks Will Shape Steady Outlook

Analysts kept their $14.00 price target for Safehold unchanged, citing only modest adjustments to revenue growth, profit margin expectations, and future P/E assumptions as reasons to maintain their prior view. What's in the News Safehold closed on ground leases for two Affordable Housing communities in Santa Cruz and Santa Clarita, California, with CRP Affordable Housing & Community Development as a new customer, adding 211 Low-Income Tax Credit units expected to be delivered in 2028.
Seeking Alpha • May 08

Safehold: Return-Free-Risk Comes To Haunt Investors

Summary Safehold (SAFE) reported a 13% revenue increase in Q1-2026, but earnings per share declined year over year. EPS deterioration was driven by SAFE taking over two hotel assets, where expenses outpaced revenues. Ground lease defaults, though rare, can materially impact SAFE due to its weak cash flow profile. Despite trading opportunities, SAFE remains disappointing for buy-and-hold investors since August 2021. Read the full article on Seeking Alpha
내러티브 업데이트 • May 06

SAFE: Affordable Housing Ground Leases And Buybacks Will Support Future Upside

Analysts have trimmed their price target on Safehold slightly from $28.00 to about $27.91, reflecting updated assumptions for discount rate, revenue growth, profit margin, and future P/E that result in a marginally lower fair value estimate. What's in the News From January 1, 2026 to May 1, 2026, Safehold repurchased 436,328 shares, representing 0.61% of its stock for US$7 million under the buyback announced on February 5, 2025 (Key Developments).
내러티브 업데이트 • Apr 18

SAFE: Affordable Housing Ground Leases Will Drive Long-Term Upside

Analysts have reaffirmed a $28.00 price target for Safehold, citing slightly adjusted expectations for revenue growth, profit margins, and forward P/E as the basis for this unchanged view. What's in the News Safehold closed on a ground lease for an Affordable Housing community development in Southeast Austin, Texas, planned to deliver 348 units in 2028 and developed by The NRP Group (Key Developments).
내러티브 업데이트 • Apr 04

SAFE: Affordable Housing Ground Leases Will Drive Outperformance Through Austin And Los Angeles

Analysts now see slightly higher upside for Safehold, nudging their price target from about $20.00 to roughly $20.09. This reflects fine tuned assumptions on fair value and future P/E, without major shifts in growth or margin expectations.
내러티브 업데이트 • Mar 21

SAFE: Affordable Housing Ground Leases Will Support Long-Term Upside

Analysts have revised their $28.00 price target on Safehold, reflecting updated assumptions for revenue growth, profit margins, and a higher future P/E multiple. They have also applied a slightly lower discount rate to their cash flow outlook.
내러티브 업데이트 • Mar 07

SAFE: Affordable Housing Ground Leases Will Drive Outperformance Through 2028

Analysts have adjusted their price target on Safehold to $20.00, reflecting updated assumptions around slightly lower revenue growth, a modestly narrower profit margin, and a higher future P/E multiple. What's in the News From October 1, 2025 to December 31, 2025, Safehold reported no share repurchases under its buyback program, with 0 shares repurchased for $0 million, and the company stated that the buyback announced on February 5, 2025 is now complete (Key Developments).
내러티브 업데이트 • Feb 21

SAFE: Affordable Housing Ground Leases Will Signal Cautious Outlook

Analysts have reaffirmed a $14.00 price target for Safehold, citing slightly lower assumed revenue growth, a small improvement in profit margin, and a modestly reduced discount rate that together leave their overall valuation view essentially unchanged. What's in the News From October 1, 2025 to December 31, 2025, Safehold reported no share repurchases under its buyback program, with 0 shares repurchased for $0 million, and stated that this completed the repurchase activity under the buyback announced on February 5, 2025 (Key Developments).
내러티브 업데이트 • Feb 06

SAFE: Affordable Housing Ground Lease Expansion Will Drive Outperformance By 2027

Analysts have trimmed their price target on Safehold to about US$19.64 from roughly US$20.27. This reflects adjustments to their fair value work that now uses a slightly lower discount rate, modestly higher revenue growth and profit margin assumptions, and a somewhat lower future P/E multiple.
내러티브 업데이트 • Jan 23

SAFE: Affordable Housing Ground Leases Will Shape Balanced Outlook

Analysts have trimmed their price target for Safehold from US$16.00 to US$14.00, citing updated assumptions that include a 12.5% discount rate, revenue growth of about 3.72%, a profit margin near 30.74% and a future P/E of roughly 10.49x. What's in the News Closed a ground lease for an Affordable Housing community in Woodland Hills, Los Angeles, targeting 207 units by 2028.
내러티브 업데이트 • Jan 09

SAFE: Affordable Housing Expansion In Los Angeles Will Drive Long-Term Upside

Analysts have trimmed their price target on Safehold to US$28.00, citing updated assumptions that reflect slightly higher revenue growth and profit margin expectations, along with a lower future P/E multiple. What's in the News Safehold closed a ground lease for an Affordable Housing community in Woodland Hills, Los Angeles, targeting 207 units scheduled for delivery in 2028, in partnership with Meta Housing, an Affordable Housing developer based in Los Angeles (Key Developments).
내러티브 업데이트 • Dec 15

SAFE: Affordable Housing Ground Leases Will Support Positive Long-Term Upside

Analysts have modestly raised their price target on Safehold to $28.00, citing a slightly higher assumed future earnings multiple that more than offsets marginally softer long term growth and profitability expectations. What's in the News Safehold reports that, between July 1 and September 30, 2025, it repurchased 0 shares for $0 million, completing a previously announced buyback program without execution (Key Developments).
내러티브 업데이트 • Nov 30

SAFE: Expanding Los Angeles Housing Will Drive Outperformance By 2027

Analysts have modestly raised their price target for Safehold from $20.00 to $20.27. This change reflects increased revenue growth expectations, even though there is a slightly lower profit margin outlook.
내러티브 업데이트 • Nov 16

SAFE: Revenue Slowdown Will Be Offset By Expanding Affordable Housing Portfolio

Analysts have lowered their price target for Safehold from $20.64 to $20.00, citing a slowdown in expected revenue growth. This change in expectations outweighs improvements in profit margin and valuation metrics.
내러티브 업데이트 • Nov 01

SAFE: Ground Lease Expansion Will Drive Affordable Housing Delivery By 2029

Analysts have maintained their price target for Safehold at $20.64 per share. This reflects stable expectations based on unchanged fundamentals and updated forecasts.
내러티브 업데이트 • Oct 17

Ground Lease Adoption Will Expand Multifamily Housing Options

Analysts have slightly reduced their price target for Safehold, lowering it by $0.05 per share. This adjustment is due to modestly slower projected revenue growth and a marginal dip in profit margin expectations.
내러티브 업데이트 • Oct 03

Ground Lease Adoption Will Expand Multifamily Housing Options

Analysts have lowered their price target for Safehold from $21.40 to $20.64 per share, citing modest increases in projected revenue growth and profit margins, along with a reduced future price-to-earnings multiple. What's in the News Safehold Inc.
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새로운 내러티브 • Feb 13

Expanding Into Affordable Multifamily Sector Will Unlock New Opportunities

Safehold's expansion into the Multifamily market's affordable sector aims to boost revenue with stable cash flows and high occupancy rates.
Seeking Alpha • Feb 03

Safehold & Star Holdings: The  Cookie At The End Of The Rainbow

Summary SAFE's bubble was evident due to three easy to see problems. Treasuries were an obvious bubble as well. Both bubbles have come undone. We tell you why we are buying Treasuries, but not SAFE. Read the full article on Seeking Alpha
Seeking Alpha • Jan 15

Safehold Vs. Treasuries

Summary Safehold's stock price is highly correlated with the 30-year Treasury bond rate. SAFE's business model involves secure, long-term ground leases, often compared to long-term bonds, providing stable cash flows and high credit ratings. SAFE is a leveraged play on long-term interest rates; its price movements are largely driven by changes in Treasury rates, not operational factors. Read the full article on Seeking Alpha
Seeking Alpha • Nov 04

Safehold: Time To Cover This High-Beta Bond Proxy

Summary We had initiated a short position in Safehold as part of a paired trade. We closed that one out. We go over the rationale behind that and explain why the REIT still remains a poor choice for a long term investment. Read the full article on Seeking Alpha
Seeking Alpha • Sep 23

Safehold To Star Holdings: A Paired Trade

Summary Star Holdings' primary asset is its stake in Safehold Inc. The unwinding of its secondary assets should likely be done in another two and a half years. Star Holdings likely doubles if Safehold stays static at the current price. Alternatively, Safehold needs to fall by 50% to justify the current price for Star Holdings. Read the full article on Seeking Alpha
Seeking Alpha • Jul 15

Safehold: Two Requirements To Make It To $30

Summary We had previously suggested that Safehold would make it over the $20 mark. The recent rally has accomplished that, and the bulls are licking their chops ahead of the expected rate cuts. We go over the recent results and tell you what needs to happen to see $30. Read the full article on Seeking Alpha
Seeking Alpha • Apr 26

Are The 6.6% Yielding A Rated Bonds A Safehold?

Summary In our previous coverage we had suggested that Safehold bonds were a better bet than the common shares. That thesis has played out quite well over time, despite the pressures of rising interest rates. We look at the latest bonds from Safehold, which sport the highest yield in its stack. Read the full article on Seeking Alpha
Seeking Alpha • Feb 14

After Q4 Results And Share Price Drop, Safehold Is Still A Buy

Summary Safehold's stock performance has not met my expectations in 2024, with losses of over 11% to date. The market repricing its expectations on interest rate cuts has been the key driver behind this drop. Despite this, Q4 2023 results show that Safehold continues to deliver stable financial performance and has strengthened its risk profile. In this article, I review Q4 2023 results and outline my stance on the buy thesis for SAFE. Read the full article on Seeking Alpha
Seeking Alpha • Jan 23

Safehold: All Eyes On Yields

Summary Safehold's business model generates a very steady cash flow. But the valuation is very sensitive to interest rates, despite virtually all debt fixed-rate. I share my outlook for the REIT. Read the full article on Seeking Alpha
Seeking Alpha • Dec 12

Safehold: Greatly Positioned For An Outperformance (Rating Upgrade)

Summary Safehold has seen strong performance, outperforming the broader REIT market with a 24.8% total return. Q3 2023 results showed stable operating results and minor investment activity, indicating an unchanged situation in the market. Over the quarter, Safehold achieved an upper investment-grade credit rating from Moody's and made notable steps in deleveraging its balance sheet. Despite the recent run-up in the share price, SAFE is still ~68% below its peak when the Fed started to increase rates. Once the Company has improved its capital structure even further and the interest rates seem to assume a declining trajectory, SAFE has become an even more attractive investment. Read the full article on Seeking Alpha
Seeking Alpha • Nov 15

Take A Bite Of Star Holdings If You Are Bullish On Safehold

Summary Star Holdings is a spin-off company from iStar Financial, focusing on the development and disposal of real estate assets. STHO has $300 million in real estate assets that could potentially offset expenses and pay off debt obligations. We look at the valuation in relation to Safehold shares and the risks of a margin call liquidation. Read the full article on Seeking Alpha
Seeking Alpha • Nov 07

Safehold: A Billionaire's Bet On Ground Leases

Summary Safehold is a ground lease REIT that has experienced significant growth in recent years. The company has faced challenges in 2023 due to financing costs and interest rate changes. Despite these challenges, Safehold remains financially stable with a strong credit rating and ample liquidity. Read the full article on Seeking Alpha
Seeking Alpha • Oct 11

Safehold Is About To Be Clobbered By Interest Rates

Summary Safehold is facing difficulties due to poor timing, excessive management compensation, and aggressive accounting practices. The company is losing cash as a significant portion of their rent is non-cash GAAP straight line rent, while interest expense has increased. Safehold is unable to raise rents significantly due to long-term rental contracts, leading to negative cash flow. Read the full article on Seeking Alpha

매출 및 비용 세부 내역

Safehold가 돈을 벌고 사용하는 방법. 최근 발표된 LTM 실적 기준.

순이익 및 매출 추이

NYSE:SAFE 매출, 비용 및 순이익 (USD Millions)
날짜매출순이익일반관리비연구개발비
31 Mar 26417114600
31 Dec 25404114610
30 Sep 25399113610
30 Jun 25394103670
31 Mar 25391104640
31 Dec 24389106640
30 Sep 24387121620
30 Jun 24385-21600
31 Mar 24381-29660
31 Dec 23362-55710
30 Sep 23342-74590
30 Jun 23323115500
31 Mar 23297115420
31 Dec 22279135390
30 Sep 22258135370
30 Jun 2223489340
31 Mar 2221281310
31 Dec 2119373290
30 Sep 2118067270
30 Jun 2116961260
31 Mar 2116259240
31 Dec 2015959230
30 Sep 2014855210
30 Jun 2013146190
31 Mar 2011238170
31 Dec 199328140
30 Sep 197821130
30 Jun 196817130
31 Mar 195815120
31 Dec 185012110
30 Sep 18406100
30 Jun 1835390
31 Mar 1830070
31 Dec 1723-460
30 Sep 1724150
30 Jun 1723340
31 Mar 1722630
31 Dec 1622730
30 Sep 1621730
30 Jun 1621630
31 Mar 1620620
31 Dec 1519520

양질의 수익: SAFE는 고품질 수익을 보유하고 있습니다.

이익 마진 증가: SAFE의 현재 순 이익률 (27.4%)은 지난해 (26.7%)보다 높습니다.

잉여현금흐름 대비 순이익 분석

과거 순이익 성장 분석

수익추이: SAFE의 수익은 지난 5년 동안 연평균 4.9% 증가했습니다.

성장 가속화: 지난 1년간 SAFE 의 수익 증가율(9.2%)은 연간 평균(4.9%)을 초과합니다.

수익 대 산업: SAFE의 지난 1년 수익 증가율(9.2%)은 Specialized REITs 업계의 9%를 상회했습니다.

자기자본이익률

높은 ROE: SAFE의 자본 수익률(4.6%)은 낮음으로 평가됩니다.

총자산이익률

투하자본수익률

우수한 과거 실적 기업을 찾아보세요

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기업 분석 및 재무 데이터 상태

데이터최종 업데이트 (UTC 시간)
기업 분석2026/06/10 14:47
종가2026/06/10 00:00
수익2026/03/31
연간 수익2025/12/31

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패키지데이터기간미국 소스 예시 *
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분석가 소스

Safehold Inc.는 15명의 분석가가 다루고 있습니다. 이 중 8명의 분석가가 우리 보고서에 입력 데이터로 사용되는 매출 또는 수익 추정치를 제출했습니다. 분석가의 제출 자료는 하루 종일 업데이트됩니다.

분석가기관
Nathan CrossettBerenberg
Nathan CrossettBNP Paribas
Derek HewettBofA Global Research