Safety Income & Growth Inc (NYSE:SAFE) has received an average recommendation of “Hold” from the eight research firms that are presently covering the firm, Marketbeat.com reports. Seven equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month target price among brokerages that have updated their coverage on the stock in the last year is $20.23.

SAFE has been the topic of several research analyst reports. Bank of America cut their target price on Safety Income & Growth from $20.00 to $18.90 and set a “neutral” rating on the stock in a research report on Monday, November 6th. Ladenburg Thalmann Financial Services reissued a “buy” rating on shares of Safety Income & Growth in a research report on Tuesday, October 31st. Finally, Zacks Investment Research downgraded Safety Income & Growth from a “hold” rating to a “sell” rating in a research note on Thursday, October 26th.

In other news, major shareholder Istar Inc. purchased 59,420 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The shares were purchased at an average price of $17.95 per share, for a total transaction of $1,066,589.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders have purchased a total of 636,978 shares of company stock worth $11,454,234 in the last 90 days.

A number of large investors have recently added to or reduced their stakes in SAFE. Cubist Systematic Strategies LLC purchased a new position in Safety Income & Growth during the 3rd quarter worth approximately $170,000. Pinnacle Associates Ltd. purchased a new position in shares of Safety Income & Growth in the 2nd quarter valued at approximately $196,000. Schwab Charles Investment Management Inc. purchased a new position in shares of Safety Income & Growth in the 3rd quarter valued at approximately $215,000. Strs Ohio purchased a new position in shares of Safety Income & Growth in the 3rd quarter valued at approximately $299,000. Finally, California State Teachers Retirement System purchased a new position in shares of Safety Income & Growth in the 3rd quarter valued at approximately $313,000. Hedge funds and other institutional investors own 40.34% of the company’s stock.

Shares of Safety Income & Growth (NYSE SAFE) traded up $0.17 during midday trading on Tuesday, hitting $17.92. The stock had a trading volume of 179,100 shares, compared to its average volume of 170,120. Safety Income & Growth has a 1-year low of $17.27 and a 1-year high of $20.00.

Safety Income & Growth (NYSE:SAFE) last issued its earnings results on Thursday, October 26th. The company reported ($0.04) earnings per share for the quarter, missing the consensus estimate of $0.12 by ($0.16). Safety Income & Growth had a negative return on equity of 0.81% and a negative net margin of 11.52%. The business had revenue of $6.26 billion for the quarter, compared to analyst estimates of $5.86 million. research analysts forecast that Safety Income & Growth will post 0.44 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Investors of record on Friday, December 29th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, December 28th. This represents a $0.60 dividend on an annualized basis and a yield of 3.35%.

TRADEMARK VIOLATION NOTICE: “Safety Income & Growth Inc (SAFE) Receives Average Rating of “Hold” from Analysts” was published by Watch List News and is the sole property of of Watch List News. If you are viewing this article on another website, it was stolen and republished in violation of U.S. & international copyright and trademark legislation. The legal version of this article can be accessed at https://www.watchlistnews.com/safety-income-growth-inc-safe-receives-average-rating-of-hold-from-analysts/1799993.html.

Safety Income & Growth Company Profile

Analyst Recommendations for Safety Income & Growth (NYSE:SAFE)

Receive News & Ratings for Safety Income & Growth Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safety Income & Growth and related companies with Analyst Ratings Network's FREE daily email newsletter.