Safety Income & Growth (NYSE:SAFE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
According to Zacks, “Safety, Income and Growth, Inc. acquires, owns, manages, finances and capitalizes ground net leases. Safety, Income and Growth, Inc. is based in New York, United States. “
A number of other equities research analysts have also recently commented on the company. Ladenburg Thalmann Financial Services reissued a “buy” rating and set a $20.00 price target (down from $22.00) on shares of Safety Income & Growth in a report on Tuesday, February 20th. They noted that the move was a valuation call. Mizuho set a $18.00 target price on Safety Income & Growth and gave the stock a “hold” rating in a report on Friday, February 16th. Seven investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Safety Income & Growth has an average rating of “Hold” and an average target price of $19.78.
NYSE:SAFE opened at $16.54 on Thursday. Safety Income & Growth has a 52 week low of $15.57 and a 52 week high of $20.00.
Safety Income & Growth (NYSE:SAFE) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.23). The business had revenue of $6.75 million during the quarter, compared to analyst estimates of $7.27 million. equities analysts anticipate that Safety Income & Growth will post 0.79 earnings per share for the current year.
In other news, CFO Geoffrey G. Jervis bought 33,850 shares of Safety Income & Growth stock in a transaction dated Tuesday, February 20th. The shares were purchased at an average cost of $16.25 per share, with a total value of $550,062.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Istar Inc. purchased 59,420 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was bought at an average price of $17.95 per share, with a total value of $1,066,589.00. The disclosure for this purchase can be found here. Insiders bought 413,270 shares of company stock worth $7,337,412 over the last ninety days.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American International Group Inc. purchased a new position in Safety Income & Growth in the fourth quarter worth about $123,000. Cubist Systematic Strategies LLC purchased a new position in Safety Income & Growth in the third quarter worth about $170,000. Schwab Charles Investment Management Inc. purchased a new position in Safety Income & Growth in the third quarter worth about $215,000. California State Teachers Retirement System purchased a new position in Safety Income & Growth in the third quarter worth about $313,000. Finally, Wells Fargo & Company MN grew its position in Safety Income & Growth by 1,005.9% in the fourth quarter. Wells Fargo & Company MN now owns 19,043 shares of the company’s stock worth $336,000 after acquiring an additional 17,321 shares in the last quarter. Institutional investors own 40.55% of the company’s stock.
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Safety Income & Growth Company Profile
Safety, Income & Growth Inc, formerly 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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