Safehold At An Attractive Entry Point Amid Rising Interest Rates, Says Analyst
Portfolio Pulse from Nabaparna Bhattacharya
RBC Capital Markets analyst Kenneth S. Lee initiated coverage on Safehold Inc. (NYSE:SAFE) with an Outperform rating and a price target of $41. Lee believes SAFE's current share price levels could be an attractive entry point, especially for investors who believe the economy is close to the peak for long-term interest rates. The analyst estimates SAFE's rate sensitivity to be a 15% change in share valuation for every 100bps change in rate movement. Lee also applauds the company's recent iStar merger as it removes many structural hurdles for owning the stock.
June 30, 2023 | 4:48 pm
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Safehold Inc. has been given an Outperform rating by RBC Capital Markets analyst Kenneth S. Lee, with a price target of $41. The analyst believes the current share price could be an attractive entry point for investors. The recent iStar merger is also seen as a positive move.
The analyst's positive outlook on Safehold Inc., including the Outperform rating and the price target of $41, could potentially attract more investors, driving the stock price up. The recent iStar merger, which is seen as removing many structural hurdles for owning the stock, could also have a positive impact on the stock price.
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