Zacks Investment Research upgraded shares of Safety Income & Growth (NYSE:SAFE) from a sell rating to a hold rating in a report released 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. “
Several other brokerages have also commented on SAFE. Mizuho set a $18.00 price target on Safety Income & Growth and gave the company a hold rating in a research note on Friday, February 16th. Ladenburg Thalmann Financial Services reaffirmed a buy rating and issued a $20.00 price target (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. Seven equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Safety Income & Growth has an average rating of Hold and a consensus target price of $19.78.
Safety Income & Growth (NYSE:SAFE) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.07) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.16 by ($0.23). The company had revenue of $6.75 million during the quarter, compared to analyst estimates of $7.27 million. equities research analysts anticipate that Safety Income & Growth will post 0.87 earnings per share for the current year.
In other Safety Income & Growth news, major shareholder Istar Inc. acquired 63,545 shares of Safety Income & Growth stock in a transaction on Tuesday, December 26th. The shares were bought at an average price of $17.81 per share, with a total value of $1,131,736.45. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Geoffrey G. Jervis acquired 33,850 shares of Safety Income & Growth stock in a transaction on Tuesday, February 20th. The stock was acquired 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. In the last ninety days, insiders purchased 695,570 shares of company stock worth $12,393,100.
A number of institutional investors have recently bought and sold shares of the business. Macquarie Group Ltd. boosted its stake in Safety Income & Growth by 4.9% in the fourth quarter. Macquarie Group Ltd. now owns 153,000 shares of the company’s stock worth $2,693,000 after purchasing an additional 7,200 shares in the last quarter. V3 Capital Management L.P. boosted its stake in Safety Income & Growth by 2.4% in the fourth quarter. V3 Capital Management L.P. now owns 489,850 shares of the company’s stock worth $8,621,000 after purchasing an additional 11,300 shares in the last quarter. Two Sigma Investments LP boosted its stake in Safety Income & Growth by 312.8% in the fourth quarter. Two Sigma Investments LP now owns 63,949 shares of the company’s stock worth $1,126,000 after purchasing an additional 48,459 shares in the last quarter. Deutsche Bank AG boosted its stake in Safety Income & Growth by 78.3% in the fourth quarter. Deutsche Bank AG now owns 31,055 shares of the company’s stock worth $544,000 after purchasing an additional 13,638 shares in the last quarter. Finally, American International Group Inc. acquired a new position in Safety Income & Growth in the fourth quarter worth $123,000. 40.55% of the stock is currently owned by institutional investors.
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Safety Income & Growth Company Profile
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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