Safety (NYSE:SAFE) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research report issued on Wednesday.
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. “
Several other brokerages have also recently issued reports on SAFE. Mizuho set a $18.00 price objective on Safety and gave the company a “hold” rating in a research note on Friday, February 16th. Ladenburg Thalmann reiterated a “buy” rating and issued a $20.00 price objective (down from $22.00) on shares of Safety in a research note on Tuesday, February 20th. They noted that the move was a valuation call. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $19.78.
Safety (NYSE:SAFE) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.07) earnings per share (EPS) for the quarter, missing the consensus estimate of $0.16 by ($0.23). The firm had revenue of $6.75 million during the quarter, compared to analyst estimates of $7.27 million. equities research analysts anticipate that Safety will post 0.79 EPS for the current year.
In other Safety news, CFO Geoffrey G. Jervis purchased 33,850 shares of the business’s stock in a transaction on Tuesday, February 20th. The shares were bought at an average cost of $16.25 per share, for a total transaction of $550,062.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Istar Inc. purchased 59,281 shares of the business’s stock in a transaction on Monday, January 29th. The stock was acquired at an average price of $17.87 per share, for a total transaction of $1,059,351.47. The disclosure for this purchase can be found here. 1.21% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of SAFE. American International Group Inc. purchased a new position in shares of Safety during the fourth quarter worth about $123,000. Cubist Systematic Strategies LLC purchased a new position in shares of Safety during the third quarter worth about $170,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Safety during the third quarter worth about $215,000. California State Teachers Retirement System purchased a new position in shares of Safety during the third quarter worth about $313,000. Finally, Wells Fargo & Company MN grew its holdings in shares of Safety by 1,005.9% during the fourth quarter. Wells Fargo & Company MN now owns 19,043 shares of the company’s stock worth $336,000 after purchasing an additional 17,321 shares during the last quarter. Institutional investors own 41.44% of the company’s stock.
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Safety 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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