For a range of default rates, it evaluates the Net Present Value of the Safehold portfolio.

Source: https://seekingalpha.com/article/4635700-safehold-the-rino-defaults-and-valuation?source=feed_all_articles

Safehold has a consensus price target of $28.14, suggesting a potential upside of 69.43%.

Source: https://www.etfdailynews.com/2023/11/10/head-to-head-review-nexpoint-residential-trust-nysenxrt-safehold-nysesafe/

Safehold, Inc engages in acquiring, owning, managing, and capitalizing ground leases.

Source: https://www.etfdailynews.com/2023/03/20/bnp-paribas-begins-coverage-on-safehold-nysesafe/

The secure and very long-term cash flows of Safehold make NAV more certain for them, but one still has the uncertainty discussed below related to what actual default rates will be.

Source: https://seekingalpha.com/article/4635700-safehold-the-rino-defaults-and-valuation?source=feed_all_articles