Istar Inc. Acquires 18,865 Shares of Safety Income & Growth Inc (SAFE) Stock

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Safety Income & Growth Inc (NYSE:SAFE) major shareholder Istar Inc. bought 18,865 shares of the business’s stock in a transaction that occurred on Tuesday, October 30th. The stock was purchased at an average cost of $17.60 per share, for a total transaction of $332,024.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

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

  • 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.

Shares of SAFE opened at $17.98 on Thursday. The stock has a market cap of $319.02 million, a price-to-earnings ratio of 52.03 and a beta of -0.28. Safety Income & Growth Inc has a fifty-two week low of $15.57 and a fifty-two week high of $20.17.

Safety Income & Growth (NYSE:SAFE) last announced its quarterly earnings results on Thursday, October 25th. The company reported $0.11 earnings per share for the quarter, missing the consensus estimate of $0.28 by ($0.17). The company had revenue of $11.64 million for the quarter, compared to analyst estimates of $11.76 million. Safety Income & Growth had a return on equity of 1.67% and a net margin of 14.62%. Equities analysts anticipate that Safety Income & Growth Inc will post 1.15 earnings per share for the current fiscal year.

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

Several brokerages have weighed in on SAFE. Zacks Investment Research downgraded 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 target on shares of Safety Income & Growth in a research report on Sunday, October 14th. Four investment analysts have rated the stock with a hold rating and one has given a buy rating to the company. Safety Income & Growth has a consensus rating of “Hold” and an average target price of $19.58.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. New York State Common Retirement Fund grew its position in Safety Income & Growth by 66.7% during the 1st quarter. New York State Common Retirement Fund now owns 7,500 shares of the company’s stock worth $120,000 after purchasing an additional 3,000 shares during the period. Northern Trust Corp grew its position in Safety Income & Growth by 6.1% during the 1st quarter. Northern Trust Corp now owns 112,354 shares of the company’s stock worth $1,796,000 after purchasing an additional 6,490 shares during the period. Addison Capital Co grew its position in Safety Income & Growth by 2.8% during the 2nd quarter. Addison Capital Co now owns 248,442 shares of the company’s stock worth $4,713,000 after purchasing an additional 6,812 shares during the period. Paloma Partners Management Co acquired a new stake in Safety Income & Growth during the 2nd quarter worth about $222,000. Finally, Acadian Asset Management LLC acquired a new stake in Safety Income & Growth during the 2nd quarter worth about $230,000. 36.98% of the stock is currently owned by institutional investors.

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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