Safehold price target lowered to $25 from $31 at Mizuho

Mizuho lowered the firm’s price target on Safehold to $25 from $31 and keeps a Buy rating on the shares following the public offering. While the elevated interest rate environment has weighed on the company’s performance, the current price offers an attractive entry point for longer-term investors to gain exposure to a “defensively positioned, pure-play ground lease company with an expected credit rating upgrade,” the analyst tells investors in a research note.