Safehold Inc (SAFE) Fair Value & Analysis

Real Estate · US · Market cap $1.1B

Below-average quality, screening 32% undervalued on our models.

What matters now

• The large discount to fair value meets weak quality (35/100). That raises the risk this is a value trap rather than a bargain.
• The price is below even our cautious bear case ($20.38). The market is more pessimistic than our downside scenario.
• As a real-estate business, asset- and dividend-based methods carry more weight here than a standard DCF.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 27, 2026.

How to read this chart

60‑month range $12.43 – $64.84 · fair‑value band $20.38 – $33.97 · the $16.29 price screens below the $21.47 fair value. Dashed = 300-day average. As of Jul 27, 2026.

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Analysis

Safehold Inc (SAFE) currently trades at $16.29, while our model-based Fair Value estimate is $21.47, implying the stock looks roughly 31.8% undervalued today. The Quality Score stands at 35/100 (below-average quality), in the Real Estate sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Safehold Inc generated revenue of $417M at a net margin of 27.4%. Revenue grew 11.9% year over year. It earns a return on equity of 4.7%. Net debt stands at $4.5B. Fundamentals as of Jul 27, 2026

Our scenario range runs from $20.38 (bear case) to $33.97 (bull case); at $16.29, the current price sits below that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 1% below its 52-week high and 31% above its 52-week low, currently above its 200-day average. For context, the median of 10 Real Estate peers we cover trades at -22% fair-value upside, at 32%, SAFE screens cheaper than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples ($27.17) versus DCF Models ($20.15). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

Safehold Inc. is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings.

Full company description

Safehold Inc. is revolutionizing real estate ownership by providing a new and better way for owners to unlock the value of the land beneath their buildings. Having created the modern ground lease industry in 2017, Safehold continues to help owners of high quality multifamily, affordable housing, office, industrial, hospitality, student housing, life science and mixed-use properties generate higher returns with less risk. The Company, which is taxed as a real estate investment trust (REIT), seeks to deliver safe, growing income and long-term capital appreciation to its shareholders. Safehold Inc. was incorporated in 2016 and is based in New York, United States.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Safehold Inc reported revenue of $386M in FY2025 versus $187M in FY2021, a compound +19.8%/yr. Reported net income was $114M in FY2025, compounding +11.9%/yr from FY2021.

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Peer Group

REIT - Diversified · 165 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs REIT - Diversified median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.