Safety Income & Growth Inc (SAFE) Receives Average Rating of “Hold” from Analysts
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%.
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Safety Income & Growth Company Profile
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