Safety Income & Growth Inc (SAFE) Major Shareholder Acquires $179,044.84 in Stock

Safety Income & Growth Inc (NYSE:SAFE) major shareholder Istar Inc. bought 9,958 shares of the company’s stock in a transaction dated Monday, November 5th. The stock was purchased at an average cost of $17.98 per share, for a total transaction of $179,044.84. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Istar Inc. also recently made the following trade(s):

  • On Thursday, November 1st, Istar Inc. bought 11,554 shares of Safety Income & Growth stock. The stock was purchased at an average cost of $17.87 per share, for a total transaction of $206,469.98.
  • On Tuesday, October 30th, Istar Inc. bought 18,865 shares of Safety Income & Growth stock. The stock was purchased at an average cost of $17.60 per share, for a total transaction of $332,024.00.
  • On Thursday, September 13th, Istar Inc. bought 3,924 shares of Safety Income & Growth stock. The stock was purchased at an average cost of $16.90 per share, for a total transaction of $66,315.60.
  • On Thursday, September 6th, Istar Inc. bought 129,600 shares of Safety Income & Growth stock. The stock was purchased at an average cost of $16.35 per share, for a total transaction of $2,118,960.00.

SAFE traded up $0.10 on Monday, reaching $17.98. 19,000 shares of the company traded hands, compared to its average volume of 63,701. Safety Income & Growth Inc has a 52-week low of $15.57 and a 52-week high of $20.17. The company has a market capitalization of $325.95 million, a PE ratio of 54.18 and a beta of 0.08.

Safety Income & Growth (NYSE:SAFE) last announced its quarterly earnings data on Thursday, October 25th. The company reported $0.11 EPS for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.17). Safety Income & Growth had a net margin of 14.62% and a return on equity of 1.67%. The company had revenue of $11.64 million for the quarter, compared to analysts’ expectations of $11.76 million. As a group, equities analysts predict that Safety Income & Growth Inc will post 1.08 earnings per share for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.34%. The ex-dividend date was Thursday, September 27th.

A number of research analysts recently commented on SAFE shares. Zacks Investment Research downgraded shares of Safety Income & Growth from a “buy” rating to a “hold” rating in a research report on Saturday, October 27th. Barclays reaffirmed a “hold” rating and set a $20.00 price objective on shares of Safety Income & Growth in a research report on Sunday, October 14th. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. Safety Income & Growth has a consensus rating of “Hold” and a consensus price target of $19.58.

A number of institutional investors and hedge funds have recently made changes to their positions in SAFE. Northern Trust Corp grew its position in Safety Income & Growth by 6.1% in the first quarter. Northern Trust Corp now owns 112,354 shares of the company’s stock worth $1,796,000 after acquiring an additional 6,490 shares in the last quarter. Addison Capital Co grew its position in Safety Income & Growth by 2.8% in the second quarter. Addison Capital Co now owns 248,442 shares of the company’s stock worth $4,713,000 after acquiring an additional 6,812 shares in the last quarter. Paloma Partners Management Co bought a new stake in Safety Income & Growth in the second quarter worth approximately $222,000. Acadian Asset Management LLC bought a new stake in Safety Income & Growth in the second quarter worth approximately $230,000. Finally, Bank of America Corp DE grew its position in Safety Income & Growth by 21.0% in the second quarter. Bank of America Corp DE now owns 84,134 shares of the company’s stock worth $1,596,000 after acquiring an additional 14,581 shares in the last quarter. 36.98% of the stock is currently owned by hedge funds and other institutional investors.

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Safety Income & Growth Company Profile

Safety, Income & Growth Inc (NYSE: SAFE) is the first publicly traded company that focuses on acquiring, owning, managing and capitalizing ground leases. The Company seeks to provide safe, growing income and capital appreciation to shareholders by building a diversified portfolio of high quality ground leases.

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Insider Buying and Selling by Quarter for Safety Income & Growth (NYSE:SAFE)

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