Shares of Safehold (SAFE) soared over 5% on November 4th after analysts at JMP Securities reaffirmed their Buy rating and set a price target of $35 for the ground lease provider.
JMP Securities analyst Mitchell Germain maintained a bullish stance on Safehold, citing the company's unique business model and growth potential in the ground lease market. Germain noted that Safehold's ground leases offer an attractive alternative to traditional property ownership, providing long-term income streams and potential for capital appreciation.
The analyst's positive outlook comes as Safehold continues to expand its portfolio of ground leases across various property types, including multi-family, office, and hospitality. The company's recent acquisitions and development projects are expected to drive revenue growth and strengthen its position in the market.