Safety Income & Growth (SAFE) Downgraded by Zacks Investment Research
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 topic of a number of other research reports. Barclays upgraded Safety Income & Growth from an equal weight rating to an overweight rating and raised their price target for the company from $21.00 to $22.00 in a research report on Monday, February 4th. ValuEngine cut Safety Income & Growth from a buy rating to a hold rating in a report on Friday, March 1st.
Safety Income & Growth (NYSE:SAFE) last posted its quarterly earnings data on Thursday, February 14th. The company reported $0.24 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.01). Safety Income & Growth had a return on equity of 3.22% and a net margin of 23.61%. The company had revenue of $14.81 million for the quarter, compared to the consensus estimate of $12.74 million. On average, equities research analysts expect that Safety Income & Growth will post 1.24 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.69%. The ex-dividend date is Thursday, March 28th. Safety Income & Growth’s payout ratio is currently 93.75%.
In other Safety Income & Growth news, major shareholder Istar Inc. purchased 5,600 shares of the stock in a transaction on Monday, April 1st. The stock was acquired at an average cost of $21.69 per share, with a total value of $121,464.00. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Over the last 90 days, insiders bought 89,056 shares of company stock valued at $1,812,549. Company insiders own 1.21% of the company’s stock.
Several large investors have recently made changes to their positions in SAFE. Geode Capital Management LLC grew its holdings in shares of Safety Income & Growth by 5.2% in the fourth quarter. Geode Capital Management LLC now owns 88,180 shares of the company’s stock worth $1,658,000 after purchasing an additional 4,371 shares during the last quarter. Barclays PLC grew its holdings in Safety Income & Growth by 46.3% in the 4th quarter. Barclays PLC now owns 5,193 shares of the company’s stock worth $97,000 after acquiring an additional 1,643 shares during the last quarter. Northern Trust Corp grew its holdings in Safety Income & Growth by 1.1% in the 4th quarter. Northern Trust Corp now owns 86,502 shares of the company’s stock worth $1,627,000 after acquiring an additional 900 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in Safety Income & Growth by 1.4% in the 4th quarter. Bank of New York Mellon Corp now owns 72,012 shares of the company’s stock worth $1,355,000 after acquiring an additional 1,004 shares during the last quarter. Finally, BlackRock Inc. increased its position in shares of Safety Income & Growth by 3.0% in the fourth quarter. BlackRock Inc. now owns 467,310 shares of the company’s stock valued at $8,789,000 after acquiring an additional 13,408 shares during the period. 34.63% of the stock is currently owned by hedge funds and other institutional investors.
Safety Income & Growth Company Profile
Safety, Income & Growth Inc (NYSE:SAFE) is the first publicly traded company focused on ground leases. The Company seeks to provide real estate owners with better, lower cost capital through its modern ground lease structure, while delivering safe, growing income and long-term capital appreciation to its shareholders.
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