Safety Income & Growth Inc (SAFE) Downgraded to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Safety Income & Growth Inc (NASDAQ:SAFE) from a hold rating to a sell rating in a research note published on Tuesday.

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. “

SAFE has been the subject of several other research reports. J P Morgan Chase & Co started coverage on shares of Safetyome & Growth in a report on Monday, July 17th. They issued a neutral rating and a $21.00 target price for the company. Barclays PLC started coverage on shares of Safetyome & Growth in a report on Monday, July 17th. They issued an equal weight rating and a $21.00 target price for the company. Mizuho started coverage on shares of Safetyome & Growth in a report on Wednesday, August 30th. They issued a neutral rating and a $20.00 target price for the company. Raymond James Financial, Inc. started coverage on shares of Safetyome & Growth in a report on Tuesday, July 18th. They issued a market perform rating for the company. Finally, UBS AG started coverage on shares of Safetyome & Growth in a report on Monday, July 17th. They issued a market perform rating for the company. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus target price of $20.80.

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The firm also recently declared a special dividend, which was paid on Monday, October 16th. Shareholders of record on Monday, October 2nd were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, September 29th.

In other news, major shareholder Istar Inc. bought 55,771 shares of the firm’s stock in a transaction that occurred on Friday, September 22nd. The shares were bought at an average cost of $19.33 per share, with a total value of $1,078,053.43. Following the completion of the purchase, the insider now directly owns 6,300,832 shares in the company, valued at $121,795,082.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have acquired 1,299,958 shares of company stock worth $24,938,767 over the last three months.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. State of New Jersey Common Pension Fund D purchased a new position in Safetyome & Growth during the 2nd quarter valued at $6,703,000. Forward Management LLC purchased a new position in Safetyome & Growth during the 2nd quarter valued at $4,213,000. Pinnacle Associates Ltd. purchased a new position in Safetyome & Growth during the 2nd quarter valued at $196,000. Vanguard Group Inc. purchased a new position in Safetyome & Growth during the 2nd quarter valued at $4,787,000. Finally, FMR LLC purchased a new position in Safetyome & Growth during the 2nd quarter valued at $41,620,000.

About Safetyome & Growth

Analyst Recommendations for Safetyome & Growth (NASDAQ:SAFE)

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