Safehold Highlights Caret Incentive Plan and CBRE Valuation Consent

Safehold ( (SAFE) ) has issued an announcement.

Safehold has detailed the structure and status of its Caret Performance Incentive Plan, which awards performance-based Caret units linked to the company’s ground lease portfolio and residual value. As of March 31, 2026, most Caret units granted to employees and officers are vested, with remaining tranches from the March 31, 2023 iStar merger subject to cliff vesting in 2027 tied to a $60 stock price hurdle, and an additional December 2025 grant vesting over five years.

By March 31, 2026, officers and employees beneficially owned about 14.8% of outstanding and 11.8% of authorized Caret units, with roughly 78,996 units still available for future awards, while Safehold retained 83.9% ownership of all outstanding Caret units alongside 122,500 units sold to third-party investors. Separately, CBRE, Inc., acting through Senior Managing Director Carolyn Kakareka, on April 30, 2026 consented to the use of its name and valuation work in Safehold’s SEC filings related to independent valuations of combined property values in the company’s ground lease portfolio.

The most recent analyst rating on (SAFE) stock is a Hold with a $16.00 price target. To see the full list of analyst forecasts on Safehold stock, see the SAFE Stock Forecast page.

Spark’s Take on SAFE Stock

According to Spark, TipRanks’ AI Analyst, SAFE is a Outperform.

The score is driven most by mixed financial quality—strong growth and profitability but elevated/rising leverage and inconsistent cash-flow conversion. Technicals are supportive with a clear uptrend and positive momentum, while valuation is favorable (low P/E and strong dividend). Earnings-call commentary adds a modest positive tilt from credit/liquidity improvements and growth priorities, balanced by execution and concentration risks and contingent catalysts (Carat monetization and buybacks).

To see Spark’s full report on SAFE stock, click here.

More about Safehold

Safehold Inc. is a real estate company focused on owning and managing ground leases, deriving returns from property net operating income reported by tenants and the unrealized capital appreciation in its owned residual portfolio. The company uses external valuation firms to help determine combined property values across its ground lease assets, and compensates executives and employees through performance-based equity-like instruments tied to this portfolio.

Average Trading Volume: 350,515

Technical Sentiment Signal: Sell

Current Market Cap: $1.14B

See more data about SAFE stock on TipRanks’ Stock Analysis page.