Goldman Sachs initiated coverage of Safehold with a Buy rating and $25 price target, implying total return of 25.5%. Safehold is a real estate investment trust that owns, originates, and acquires ground leases that are exposed primarily to land underlying office, multifamily, and hotel properties, the analyst tells investors in a research note. The firm expects the company’s earnings and value growth will be driven by investment volumes, where it forecasts 10.6% average earnings growth per year in 2024 through 2025.
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