SAFE
Safehold Inc.
NYSEUSDEQUITY
Real Estate
DELAYED
Sell
-37/100
Last price
12.10
▲ 0.20 (1.68%)
MARKET · —
Price
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Open
—
Prev close
11.90
Day high
12.16
Day low
12.00
Volume
549.86K
Market cap
$856.88M
P/E (TTM)
7.52
52W range
11.60 – 17.45
Trailing performance
Returnvs SPY
1W
+0.83%
-1.1%
1M
-19.97%
-21.1%
3M
-24.19%
-28.7%
6M
-11.94%
-30.1%
YTD
-11.61%
-25.9%
1Y
-21.68%
-38.1%
3Y
-32.02%
-114.3%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Free account
11 more panels on SAFE open with an account.
Options chains and analytics, valuation ratios, insider filings, analyst targets and ownership. No card, no trial, nothing to cancel.
Insider net activity
Net shares
+35.75K
Net buying
Buy transactions
9
45.25K shares
Sell transactions
1
9.50K shares
Net transactions
+10
Buys less sells
Sell : buy shares
0.2 : 1
Mixed
Insider-held shares
16.24M
Total on file
Insider transactions
| Date | Insider | Action | Shares | Value | Held |
|---|---|---|---|---|---|
| Sep 9, 26 | JOSEPHS ROBIN Director |
SELL | 9.50K | $138.35K | Direct |
| Jul 15, 26 | RIDINGS BARRY W Director |
STOCK | 30 | $0 | Direct |
| Jul 15, 26 | JOSEPHS ROBIN Director |
STOCK | 335 | $0 | Direct |
| May 29, 26 | UHLICK CHRISTOPHER MICHAEL Officer |
STOCK | 4.50K | $0 | Direct |
| May 14, 26 | RIDINGS BARRY W Director |
STOCK | 8.78K | $0 | Direct |
| May 14, 26 | JOSEPHS ROBIN Director |
STOCK | 8.78K | $0 | Direct |
| May 14, 26 | NYDICK JAY S Director |
STOCK | 8.78K | $0 | Direct |
| May 14, 26 | SELIG STEFAN M Director |
STOCK | 13.65K | $0 | Direct |
| Apr 15, 26 | RIDINGS BARRY W Director |
STOCK | 33 | $0 | Direct |
| Apr 15, 26 | JOSEPHS ROBIN Director |
STOCK | 359 | $0 | Direct |
| Feb 27, 26 | SUGARMAN JAY SCOTT Chief Executive Officer |
STOCK | 90.15K | $0 | Direct |
| Feb 27, 26 | ASNAS BRETT Chief Financial Officer |
STOCK | 66.17K | $0 | Direct |
| Jan 15, 26 | RIDINGS BARRY W Director |
STOCK | 33 | $0 | Direct |
| Jan 15, 26 | JOSEPHS ROBIN Director |
STOCK | 362 | $0 | Direct |
What this is, and what it is not
These are SEC Form 4 filings — officers, directors and 10% owners reporting their own trades in the company's stock. Filing is due within two business days of the transaction, so this lags reality by days, and the provider adds its own lag on top.
A sale is not automatically bearish. Executives sell on scheduled 10b5-1 plans, to cover tax on vesting equity, and to diversify. Purchases with cash are generally the more informative signal, and they are far rarer.
This does not include congressional or senate trading. That comes from STOCK Act disclosures filed with the Senate eFD system and the House Clerk, which this data source does not carry.
Officer and director trades in their own stock, straight from Form 4 filings.
Insider holders
| Name | Relation | Shares held | Latest |
|---|---|---|---|
ASNAS BRETT |
Chief Financial Officer | 213.97K | Stock Award(Grant) |
JOSEPHS ROBIN |
Director | 156.87K | Sale |
NYDICK JAY S |
Director | 77.34K | Stock Award(Grant) |
RIDINGS BARRY W |
Director | 69.94K | Stock Award(Grant) |
SELIG STEFAN M |
Director | 105.17K | Stock Award(Grant) |
SUGARMAN JAY SCOTT |
Chief Executive Officer | 2.22M | Stock Award(Grant) |
TRACHTENBERG MICHAEL LANE |
President | 93.08K | Stock Award(Grant) |
UHLICK CHRISTOPHER MICHAEL |
Officer | 12.48K | Stock Award(Grant) |
Fundamentals
Market cap$856.88M
Enterprise value$5.69B
Revenue (TTM)$436.41M
Gross profit$405.48M
EBITDA$346.02M
Net income$116.17M
EPS (TTM)$1.61
Free cash flow$-317.18M
Total cash$15.92M
Total debt$4.66B
Book value / share$34.33
Shares outstanding70.82M
Float54.64M
Short % of float9.19%
Dividend yield5.85%
Beta (5Y)1.77
Valuation & profitability ratios
Trailing P/E7.52
Forward P/E7.22
PEG ratio—
Price / sales—
Price / book0.35
EV / revenue13.05
EV / EBITDA16.46
Gross margin92.91%
Operating margin73.67%
Profit margin26.62%
Return on equity4.64%
Return on assets2.88%
Debt / equity176.95
Current ratio37.65
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $385.55M | $365.69M | $352.58M | $270.31M | +5.4% |
| Operating revenue | $369.38M | $344.79M | $313.93M | $269.07M | +7.1% |
| Cost of revenue | $4.76M | $4.22M | $4.65M | $3.11M | +12.7% |
| Gross profit | $380.79M | $361.46M | $347.93M | $267.20M | +5.3% |
| Selling, general & admin | $54.34M | $54.92M | $65.44M | $38.61M | -1.1% |
| Total operating expense | $69.45M | $74.35M | $78.08M | $48.23M | -6.6% |
| Operating income | $311.34M | $287.11M | $269.84M | $218.98M | +8.4% |
| Net interest income | -$206.69M | -$198.04M | -$181.01M | -$128.97M | -4.4% |
| Pre-tax income | $117.56M | $110.06M | -$52.85M | $144.68M | +6.8% |
| Tax provision | $2.93M | $3.44M | $1.72M | $0 | -14.9% |
| Net income | $114.47M | $105.76M | -$54.97M | $135.42M | +8.2% |
| Net income to common | $114.47M | $105.76M | -$54.97M | $135.42M | +8.2% |
| Basic EPS | 1.60 | 1.48 | -0.82 | 2.17 | +8.1% |
| Diluted EPS | 1.59 | 1.48 | -0.82 | 2.17 | +7.4% |
| EBIT | $324.25M | $308.10M | $128.16M | $273.65M | +5.2% |
| EBITDA | $335.11M | $320.36M | $140.41M | $285.57M | +4.6% |
| Basic shares | 71.69M | 71.37M | 66.69M | 62.39M | +0.5% |
| Diluted shares | 71.79M | 71.45M | 66.69M | 62.39M | +0.5% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Cash & equivalents | $21.70M | $8.35M | $18.76M | $20.07M | +160.1% |
| Cash & short-term investments | $23.73M | $15.58M | $28.47M | $20.07M | +52.3% |
| Accounts receivable | $241.10M | $210.77M | $180.03M | $148.87M | +14.4% |
| Total current assets | $2.44B | $2.18B | $1.97B | $1.58B | +11.7% |
| Property, plant & equipment | $26.55M | $30.35M | $34.94M | $26.31M | -12.5% |
| Goodwill & intangibles | $204.02M | $208.73M | $211.11M | $217.79M | -2.3% |
| Total assets | $7.25B | $6.90B | $6.55B | $5.85B | +5.1% |
| Total current liabilities | $136.30M | $117.51M | $101.14M | $80.35M | +16.0% |
| Long-term debt | $4.49B | $4.22B | $3.95B | $3.52B | +6.4% |
| Total debt | $4.49B | $4.23B | $3.97B | $3.53B | +6.2% |
| Total liabilities | $4.81B | $4.53B | $4.25B | $3.69B | +6.3% |
| Retained earnings | $165.74M | $102.47M | $47.58M | $151.23M | +61.7% |
| Shareholder equity | $2.41B | $2.34B | $2.23B | $2.14B | +2.7% |
| Working capital | $2.30B | $2.06B | $1.87B | $1.50B | +11.5% |
| Net tangible assets | $2.20B | $2.14B | $2.02B | $1.92B | +3.2% |
| Shares issued | 71.76M | 71.44M | 71.08M | 62.40M | +0.4% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Net income | $114.63M | $106.61M | -$54.56M | $144.68M | — | +7.5% |
| Depreciation & amortisation | $10.86M | $12.26M | $12.24M | $11.92M | — | -11.4% |
| Stock-based compensation | $12.55M | $13.76M | $23.23M | $1.55M | — | -8.8% |
| Change in working capital | $10.46M | $13.33M | $7.11M | $31.12M | — | -21.5% |
| Operating cash flow | $47.81M | $37.85M | $15.39M | $64.85M | — | +26.3% |
| Capital expenditure | — | — | — | — | -$1.25B | — |
| Investing cash flow | -$237.18M | -$212.37M | -$576.57M | -$1.15B | — | -11.7% |
| Dividends paid | -$50.92M | -$50.59M | -$46.04M | -$42.19M | — | -0.7% |
| Financing cash flow | $202.98M | $144.89M | $559.53M | $1.09B | — | +40.1% |
| Free cash flow | $47.81M | $37.85M | $15.39M | $64.85M | — | +26.3% |
| End cash position | $30.74M | $17.12M | $46.74M | $48.39M | — | +79.6% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Total revenue | $114.65M | $110.85M | $97.87M | $96.16M | $93.84M | — | +3.4% |
| Operating revenue | $111.94M | $108.16M | $93.43M | $92.51M | $90.06M | — | +3.5% |
| Cost of revenue | $14.70M | $13.51M | $1.32M | $1.40M | $881.00K | — | +8.9% |
| Gross profit | $99.94M | $97.35M | $96.55M | $94.77M | $92.96M | — | +2.7% |
| Selling, general & admin | $14.34M | $15.30M | $14.18M | $13.07M | $12.95M | — | -6.3% |
| Total operating expense | $16.46M | $17.65M | $17.19M | $16.20M | $17.43M | — | -6.7% |
| Operating income | $83.48M | $79.70M | $79.36M | $78.56M | $75.53M | — | +4.7% |
| Net interest income | -$55.19M | -$53.52M | -$52.50M | -$52.50M | -$51.27M | — | -3.1% |
| Pre-tax income | $32.12M | $29.58M | $28.91M | $29.53M | $28.83M | — | +8.6% |
| Tax provision | $1.39M | $685.00K | $973.00K | $215.00K | $862.00K | — | +103.5% |
| Net income | $30.16M | $28.86M | $27.88M | $29.28M | $27.95M | — | +4.5% |
| Net income to common | $30.16M | $28.86M | $27.88M | $29.28M | $27.95M | — | +4.5% |
| Basic EPS | 0.42 | 0.40 | — | 0.41 | 0.39 | 0.41 | +5.0% |
| Diluted EPS | 0.42 | 0.40 | — | 0.41 | 0.39 | 0.41 | +5.0% |
| EBIT | $87.31M | $83.10M | $81.40M | $82.03M | $80.10M | — | +5.1% |
| EBITDA | $89.62M | $85.41M | $84.09M | $84.72M | $82.80M | — | +4.9% |
| Basic shares | 71.46M | 71.81M | — | 71.76M | 71.74M | 71.52M | -0.5% |
| Diluted shares | 71.58M | 71.97M | — | 71.84M | 71.80M | 71.64M | -0.5% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $15.92M | $19.30M | $21.70M | $12.12M | $13.91M | -17.5% |
| Cash & short-term investments | $15.92M | $20.14M | $23.73M | $15.08M | $19.09M | -20.9% |
| Accounts receivable | $256.11M | $248.62M | $241.10M | $233.55M | $225.98M | +3.0% |
| Total current assets | $2.59B | $2.51B | $2.44B | $2.38B | $2.31B | +3.4% |
| Property, plant & equipment | $24.73M | $25.75M | $26.55M | $27.80M | $28.00M | -4.0% |
| Goodwill & intangibles | $202.25M | $203.13M | $204.02M | $205.40M | $206.78M | -0.4% |
| Total assets | $7.52B | $7.38B | $7.25B | $7.15B | $7.06B | +1.9% |
| Total current liabilities | $143.49M | $133.18M | $136.30M | $125.80M | $127.39M | +7.7% |
| Long-term debt | $4.55B | $4.60B | $4.49B | $4.41B | $4.34B | -0.9% |
| Total debt | $4.56B | $4.60B | $4.49B | $4.42B | $4.35B | -0.9% |
| Total liabilities | $4.89B | $4.92B | $4.81B | $4.73B | $4.66B | -0.7% |
| Retained earnings | $199.29M | $181.80M | $165.74M | $150.67M | $134.19M | +9.6% |
| Shareholder equity | $2.44B | $2.43B | $2.41B | $2.39B | $2.37B | +0.4% |
| Working capital | $2.45B | $2.37B | $2.30B | $2.25B | $2.19B | +3.1% |
| Net tangible assets | $2.24B | $2.23B | $2.20B | $2.18B | $2.17B | +0.5% |
| Shares issued | 71.06M | 71.82M | 71.76M | 71.76M | 71.76M | -1.1% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | $30.72M | $28.90M | $27.93M | $29.32M | $27.97M | — | +6.3% |
| Depreciation & amortisation | $2.31M | $2.31M | $2.69M | $2.69M | $2.70M | — | -0.0% |
| Stock-based compensation | $3.39M | $3.78M | $2.87M | $3.11M | $3.08M | — | -10.3% |
| Change in working capital | $10.56M | -$13.63M | $7.64M | -$5.19M | $9.30M | — | +177.5% |
| Operating cash flow | $34.63M | -$8.60M | $12.32M | -$1.41M | $28.00M | — | +502.8% |
| Investing cash flow | -$123.09M | -$85.50M | -$56.99M | -$56.22M | -$116.96M | — | -44.0% |
| Share buybacks | -$12.85M | -$3.20M | — | — | $0 | $0 | -301.6% |
| Dividends paid | -$13.10M | -$12.69M | -$12.69M | -$12.69M | -$12.89M | — | -3.2% |
| Financing cash flow | $86.44M | $91.49M | $54.15M | $55.95M | $85.91M | — | -5.5% |
| Free cash flow | $34.63M | -$8.60M | $12.32M | -$1.41M | $28.00M | — | +502.8% |
| End cash position | $26.10M | $28.12M | $30.74M | $21.26M | $22.94M | — | -7.2% |
Options analytics
Put / call volume
0.55
Call-heavy session
Put / call open interest
0.00
Positioning, not flow
Max pain
2.50
-79.3% from spot
ATM implied vol
6.3%
Nearest strike to spot
Skew (10% OTM)
+18.7%
Puts bid over calls
Call volume
89
Contracts, this expiry
Put volume
49
Contracts, this expiry
Heaviest call OI
20.00
33 contracts
Heaviest put OI
10.00
0 contracts
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | 0.42 | 0.42 | +1.0% |
| Mar 2026 | 0.44 | 0.40 | -8.2% |
| Dec 2025 | 0.41 | 0.42 | +3.2% |
| Sep 2025 | 0.39 | 0.41 | +4.3% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | 0.43 | 7 | $117.43M | +22.1% |
| Next quarter | 0.36 | 7 | $112.33M | +14.8% |
| Current year | 1.62 | 7 | $453.32M | +17.6% |
| Next year | 1.68 | 7 | $474.91M | +4.8% |
Analyst targets & ownership
Mean target$17.90
High target$28.00
Low target$13.00
Implied upside47.93%
Analyst count10
ConsensusHOLD
Strong buy / Buy2 / 2
Hold5
Sell / Strong sell1 / 1
Held by insiders22.93%
Held by institutions76.05%
Institutions holding319
Price targets, consensus spread, insider and institutional ownership.
Moving averages & technicals
SMA 10
12.14
-0.31% from price
SMA 20
12.97
-6.70% from price
SMA 50
14.52
-16.65% from price
SMA 100
15.09
-19.79% from price
SMA 200
14.93
-18.98% from price
EMA 12
12.40
-2.45% from price
EMA 26
13.21
-8.39% from price
EMA 50
14.02
-13.72% from price
RSI (14)
28.4
Oversold
MACD (12,26,9)
-0.80
Hist -0.03
ATR (14)
0.40
3.32% of price
Realised vol 30D
24.9%
Annualised
Bollinger upper
14.79
20, 2σ
Bollinger lower
11.14
20, 2σ
50 / 200 cross
Death
14.52 vs 14.93
Trend bias
Below 200
-18.98%
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Risk profile
Beta vs SPY
0.67
Less volatile than market
Correlation to SPY
0.26
Largely independent
Realised vol 30D
24.9%
Annualised
Market vol 1Y
13.0%
SPY, annualised
Max drawdown 1Y
-31.5%
Peak to trough
Max drawdown 5Y
-91.1%
Peak to trough
ATR 14
0.40
3.32% of price
Beta (reported)
1.77
5Y monthly, from filing
Short interest
Shares short
3.51M
Prior 3.32M
Change vs prior
+5.7%
Shorts adding
% of float
9.19%
Normal
% of shares out
4.95%
Against total outstanding
Days to cover
11.3
Crowded exit
Float
54.64M
Freely tradeable shares
Exchanges publish short interest twice a month with a settlement lag, so this is roughly two weeks behind. Days to cover divides shares short by average daily volume — it estimates how long covering would take, not whether it will happen.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Sep 28, 26 | Truist Securities | MAINTAINED | Hold | Hold |
| Sep 24, 26 | JP Morgan | DOWNGRADE | Neutral | Underweight |
| Sep 17, 26 | Mizuho | MAINTAINED | Neutral | Neutral |
| May 15, 26 | Goldman Sachs | MAINTAINED | Buy | Buy |
| May 4, 26 | RBC Capital | DOWNGRADE | Outperform | Sector Perform |
| Mar 11, 26 | Mizuho | MAINTAINED | Neutral | Neutral |
| Feb 20, 26 | RBC Capital | MAINTAINED | Outperform | Outperform |
| Feb 18, 26 | Truist Securities | MAINTAINED | Hold | Hold |
| Jan 23, 26 | Morgan Stanley | DOWNGRADE | Equal-Weight | Underweight |
| Jan 12, 26 | Mizuho | MAINTAINED | Neutral | Neutral |
| Dec 17, 25 | Mizuho | MAINTAINED | Neutral | Neutral |
| Nov 6, 25 | RBC Capital | MAINTAINED | Outperform | Outperform |
Dividends & splits
Forward rate$0.71 / yr
Forward yield5.85%
5-year avg yield2.59%
Payout ratio43.98%
Ex-dividend dateSep 30, 2026
Next pay dateOct 15, 2026
Last split16:100
Split dateMar 31, 2023
SEC filings
Corporate Changes & Voting Matters
8-K · 2026-10-02
Corporate Changes & Voting Matters
8-K · 2026-08-03
Periodic Financial Reports
10-Q · 2026-07-31
Corporate Changes & Voting Matters
8-K · 2026-07-30
Corporate Changes & Voting Matters
8-K · 2026-06-16
Corporate Changes & Voting Matters
8-K · 2026-06-12
Offering Registrations
S-8 · 2026-05-18
Corporate Changes & Voting Matters
8-K · 2026-05-15
Headlines
3 REIT Stocks With Inflation Linked Rents As Debt Fears Rise
Simply Wall St. · 4d ago
Truist Cuts Price Target on Safehold to $13 From $17, Keeps Hold Rating
MT Newswires · 9d ago
Safehold (SAFE): Higher Rates Test the Value of Its Long-Duration Ground-Lease Model
Insider Monkey · 9d ago
Safehold Shares Fall After JPMorgan Downgrade
MT Newswires · 13d ago
JPMorgan Downgrades Safehold to Underweight From Neutral, Adjusts Price Target to $14 From $16
MT Newswires · 13d ago
Safehold Declares Third Quarter 2026 Common Stock Dividend
PR Newswire · 22d ago
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PRIVATE STRATEGY · BY QUALIFICATION
The same data. A different seat.
The research you are reading is the input layer for a discretionary options program we run for a small number of qualified investors. Minimum $1,000,000.