Shares of Safety Income & Growth Inc (NYSE:SAFE) have been given a consensus rating of “Hold” by the eight analysts that are covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating on the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $20.23.
SAFE has been the subject of several research reports. Zacks Investment Research cut Safety Income & Growth from a “hold” rating to a “sell” rating in a report on Tuesday, October 17th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Safety Income & Growth in a report on Tuesday, October 31st. Finally, Bank of America dropped their price target on Safety Income & Growth from $20.00 to $18.90 and set a “neutral” rating for the company in a report on Monday, November 6th.
In other news, major shareholder Istar Inc. purchased 42,439 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The stock was acquired at an average cost of $18.02 per share, with a total value of $764,750.78. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last three months, insiders have purchased 956,978 shares of company stock valued at $17,174,994.
Hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. bought a new position in shares of Safety Income & Growth in the 2nd quarter valued at $4,787,000. FMR LLC bought a new position in shares of Safety Income & Growth in the 2nd quarter valued at $41,620,000. Balyasny Asset Management LLC bought a new position in shares of Safety Income & Growth in the 2nd quarter valued at $4,286,000. Goldman Sachs Group Inc. bought a new position in shares of Safety Income & Growth in the 2nd quarter valued at $1,420,000. Finally, Macquarie Group Ltd. bought a new position in shares of Safety Income & Growth in the 2nd quarter valued at $2,873,000. 40.82% of the stock is owned by hedge funds and other institutional investors.
Safety Income & Growth (NYSE:SAFE) traded down $0.35 during trading hours on Friday, reaching $17.07. The company had a trading volume of 142,841 shares, compared to its average volume of 127,939. Safety Income & Growth has a 1-year low of $16.96 and a 1-year high of $20.00.
The company also recently declared a quarterly dividend, which was paid on Tuesday, January 16th. Investors of record on Friday, December 29th were issued a dividend of $0.15 per share. The ex-dividend date was Thursday, December 28th. This represents a $0.60 annualized dividend and a yield of 3.51%.
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About Safety Income & Growth
Safety, Income and Growth, Inc is formed primarily to acquire, own, manage, finance and capitalize ground net leases (GNLs). The Company’s portfolio consists of 12 properties, which includes Doubletree Seattle Airport, One Ally Center, Hilton Salt Lake, Doubletree Mission Valley, Doubletree Sonoma, Doubletree Durango, Dallas Market Center: Sheraton Suites, Northside Forsyth Hospital Medical Center, NASA/JPSS Headquarters, The Buckler Apartments, Dallas Market Center: Marriott Courtyard and Lock Up Self Storage Facility.
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