Safety Income & Growth Inc (SAFE) Announces Quarterly Earnings Results, Misses Estimates By $0.16 EPS

Safety Income & Growth Inc (NASDAQ:SAFE) issued its quarterly earnings results on Thursday. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.16), Briefing.com reports. Safetyome & Growth had a negative net margin of 31.66% and a negative return on equity of 4.24%. The company had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.86 million.

Safetyome & Growth (NASDAQ SAFE) traded up 0.54% during mid-day trading on Friday, hitting $18.50. The stock had a trading volume of 48,731 shares. The stock has a market cap of $336.52 million and a PE ratio of 110.78. The firm’s 50-day moving average price is $18.82 and its 200-day moving average price is $19.07. Safetyome & Growth has a 1-year low of $18.02 and a 1-year high of $20.00.

The firm also recently disclosed a special dividend, which was paid on Monday, October 16th. Stockholders of record on Monday, October 2nd were given a $0.15 dividend. The ex-dividend date of this dividend was Friday, September 29th.

In other Safetyome & Growth news, major shareholder Istar Inc. bought 114,292 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were purchased at an average price of $18.49 per share, for a total transaction of $2,113,259.08. Following the purchase, the insider now directly owns 5,256,391 shares of the company’s stock, valued at $97,190,669.59. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Insiders bought a total of 1,180,472 shares of company stock worth $22,708,314 in the last 90 days.

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Several brokerages recently commented on SAFE. J P Morgan Chase & Co began coverage on Safetyome & Growth in a research report on Monday, July 17th. They set a “neutral” rating and a $21.00 price target for the company. Raymond James Financial, Inc. began coverage on Safetyome & Growth in a research report on Tuesday, July 18th. They set a “market perform” rating for the company. UBS AG began coverage on Safetyome & Growth in a research report on Monday, July 17th. They set a “market perform” rating for the company. Zacks Investment Research cut Safetyome & Growth from a “hold” rating to a “sell” rating in a research report on Tuesday, October 17th. Finally, Bank of America Corporation reissued a “neutral” rating and set a $20.00 price target on shares of Safetyome & Growth in a research report on Monday, July 17th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $20.80.

Safetyome & Growth Company Profile

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