Istar Inc.

revealed that they own a 30.8% stake in Safety Income & Growth Inc (NASDAQ:SAFE) in a Form 13D/A disclosure that was filed with the Securities and Exchange Commission (SEC) on Wednesday, August 16th. The investor owns 5,597,277 shares of the stock valued at approximately $108,643,147. The filing is available through EDGAR at this link.

Istar Inc.

provided the following explanation of their ownership:

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Several other large investors also recently made changes to their positions in SAFE. Forward Management LLC acquired a new stake in Safetyome & Growth during the second quarter worth $4,213,000. State of New Jersey Common Pension Fund D acquired a new stake in Safetyome & Growth during the second quarter worth $6,703,000. Macquarie Group Ltd. acquired a new stake in Safetyome & Growth during the second quarter worth $2,873,000. Goldman Sachs Group Inc. acquired a new stake in Safetyome & Growth during the second quarter worth $1,420,000. Finally, Salem Investment Counselors Inc. acquired a new stake in Safetyome & Growth during the second quarter worth $479,000.

Shares of Safety Income & Growth Inc (SAFE) traded up 1.09% on Wednesday, reaching $19.41. The company’s stock had a trading volume of 99,696 shares. The firm’s 50 day moving average is $19.13 and its 200-day moving average is $19.13. The stock has a market cap of $353.07 million and a P/E ratio of 116.23. Safety Income & Growth Inc has a 52-week low of $18.02 and a 52-week high of $20.00.

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A number of research firms recently weighed in on SAFE. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Safetyome & Growth in a research note on Monday, July 31st. UBS AG began coverage on Safetyome & Growth in a research note on Monday, July 17th. They issued a “market perform” rating on the stock. Raymond James Financial, Inc. began coverage on Safetyome & Growth in a research note on Tuesday, July 18th. They issued a “market perform” rating on the stock. Barclays PLC began coverage on Safetyome & Growth in a research note on Monday, July 17th. They issued an “equal weight” rating and a $21.00 price target on the stock. Finally, Bank of America Corporation restated a “neutral” rating and issued a $20.00 price target on shares of Safetyome & Growth in a research note on Monday, July 17th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. Safetyome & Growth currently has a consensus rating of “Hold” and a consensus price target of $21.00.

In other news, insider Nina Matis bought 20,000 shares of the stock in a transaction on Tuesday, June 27th. The shares were purchased at an average cost of $20.00 per share, for a total transaction of $400,000.00. Following the completion of the purchase, the insider now directly owns 20,000 shares in the company, valued at approximately $400,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Geoffrey G. Jervis bought 28,420 shares of the stock in a transaction on Tuesday, June 27th. The stock was purchased at an average price of $20.00 per share, for a total transaction of $568,400.00. Following the completion of the purchase, the chief financial officer now owns 28,420 shares of the company’s stock, valued at $568,400. The disclosure for this purchase can be found here. Insiders have purchased 2,875,804 shares of company stock worth $56,883,930 over the last quarter.

Safetyome & Growth Company Profile

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Institutional Ownership by Quarter for Safetyome & Growth (NASDAQ:SAFE)

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