Brokerages expect that Safety Income & Growth Inc (NYSE:SAFE) will announce earnings of $0.28 per share for the current fiscal quarter, according to Zacks. Two analysts have made estimates for Safety Income & Growth’s earnings. The highest EPS estimate is $0.30 and the lowest is $0.25. The company is scheduled to issue its next quarterly earnings report on Thursday, May 17th.
On average, analysts expect that Safety Income & Growth will report full year earnings of $0.79 per share for the current year, with EPS estimates ranging from $0.68 to $0.89. For the next year, analysts expect that the business will post earnings of $1.13 per share, with EPS estimates ranging from $0.94 to $1.30. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side research analysts that follow Safety Income & Growth.
Safety Income & Growth (NYSE:SAFE) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.16 by ($0.23). The firm had revenue of $6.75 million during the quarter, compared to analysts’ expectations of $7.27 million.
Several analysts recently issued reports on SAFE shares. Zacks Investment Research raised Safety Income & Growth from a “sell” rating to a “hold” rating in a research note on Tuesday, February 27th. Ladenburg Thalmann reissued a “buy” rating and set a $20.00 target price (down previously from $22.00) on shares of Safety Income & Growth in a research note on Tuesday, February 20th. They noted that the move was a valuation call. Finally, Mizuho set a $18.00 target price on Safety Income & Growth and gave the company a “hold” rating in a research note on Friday, February 16th. Seven equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $19.78.
In other news, major shareholder Istar Inc. acquired 74,453 shares of Safety Income & Growth stock in a transaction on Wednesday, January 17th. The shares were acquired at an average price of $17.89 per share, with a total value of $1,331,964.17. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Geoffrey G. Jervis acquired 33,850 shares of Safety Income & Growth stock in a transaction on Tuesday, February 20th. The stock was purchased at an average cost of $16.25 per share, for a total transaction of $550,062.50. The disclosure for this purchase can be found here. Insiders have purchased a total of 281,857 shares of company stock worth $4,978,549 in the last three months.
Large investors have recently added to or reduced their stakes in the business. Macquarie Group Ltd. increased its stake in Safety Income & Growth by 4.9% in the 4th quarter. Macquarie Group Ltd. now owns 153,000 shares of the company’s stock worth $2,693,000 after acquiring an additional 7,200 shares during the last quarter. Bank of New York Mellon Corp bought a new stake in Safety Income & Growth in the 3rd quarter worth approximately $627,000. Addison Capital Co bought a new stake in Safety Income & Growth in the 4th quarter worth approximately $1,370,000. Nationwide Fund Advisors bought a new stake in Safety Income & Growth in the 3rd quarter worth approximately $2,723,000. Finally, California State Teachers Retirement System bought a new stake in Safety Income & Growth in the 3rd quarter worth approximately $313,000. 40.55% of the stock is currently owned by institutional investors and hedge funds.
SAFE traded down $0.01 on Friday, hitting $17.09. 981 shares of the company’s stock traded hands, compared to its average volume of 96,160. Safety Income & Growth has a one year low of $15.57 and a one year high of $20.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 30th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 3.51%. The ex-dividend date is Wednesday, March 28th.
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About Safety Income & Growth
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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