Morgan Stanley Upgrades Safehold to Equal-Weight, Cuts Target to $12
The new $12 target is below the $13 target Morgan Stanley set before the change.
Key points
- Morgan Stanley upgraded Safehold to equal-weight from underweight and cut its target to $12 from $13
- Safehold closed at $11.15 on Oct. 26, down 0.7%; the S&P 500 ETF rose 0.7%
- Before the action, six firms with targets had a median of $14, ranging from $13 to $23
- Q2 revenue rose 22% to $114.6 million; diluted EPS was $0.42
Morgan Stanley upgraded Safehold Inc. (NYSE: SAFE) to equal-weight from underweight before the open on Monday, Oct. 26, and lowered its price target to $12 from $13.
The move takes Morgan Stanley from a negative stance to a neutral one on the real estate investment trust.
Stock move and coverage
Safehold closed at $11.15 on Monday, down 0.7%, while the S&P 500 ETF rose 0.7% in the session. The stock's last close before the action was $11.23 on Friday, Oct. 23, and it had fallen 7.0% over the 20 sessions to that close.
Before Monday's action, seven firms had rated Safehold in the past year. One rated it positive, four neutral and two negative. Six of those firms had price targets, with a median of $14 and a range from $13 to $23. Morgan Stanley's new $12 target sits below that median.
Company scale
Safehold reported revenue of $385.6 million for 2025, up 5% from a year earlier, and operating income of $100.9 million, up 16%. In the latest reported quarter, ended June 30, revenue was $114.6 million, up 22% from a year earlier, and diluted earnings per share were $0.42, compared with $0.39 a year earlier. Cash and equivalents were $15.9 million at June 30.
Written with AI from analyst rating changes, SEC filings and market data, and checked against those sources before publishing. Our editorial standards.
More on Safehold
SAFE page →Filings, figures and price history are on the Safehold page.