Safety Income & Growth (SAFE) Hits New 1-Year High Following Insider Buying Activity

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Shares of Safety Income & Growth Inc (NYSE:SAFE) reached a new 52-week high during trading on Friday after an insider bought additional shares in the company. The company traded as high as $20.21 and last traded at $20.18, with a volume of 300 shares traded. The stock had previously closed at $19.93.

Specifically, major shareholder Istar Inc. bought 16,700 shares of the company’s stock in a transaction that occurred on Tuesday, December 18th. The shares were purchased at an average price of $19.26 per share, with a total value of $321,642.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In the last three months, insiders have purchased 116,378 shares of company stock worth $2,243,208. 1.21% of the stock is owned by corporate insiders.

SAFE has been the topic of several research reports. ValuEngine cut Safety Income & Growth from a “buy” rating to a “hold” rating in a report on Friday, March 1st. Barclays raised Safety Income & Growth from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $21.00 to $22.00 in a report on Monday, February 4th. Finally, Zacks Investment Research cut Safety Income & Growth from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 9th.

The firm has a market cap of $355.47 million, a PE ratio of 32.25 and a beta of 0.13.

Safety Income & Growth (NYSE:SAFE) last posted its quarterly earnings results on Thursday, February 14th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.01). The company had revenue of $14.81 million during the quarter, compared to the consensus estimate of $12.74 million. Safety Income & Growth had a net margin of 23.61% and a return on equity of 3.22%. On average, analysts expect that Safety Income & Growth Inc will post 1.36 EPS for the current year.

Hedge funds and other institutional investors have recently bought and sold shares of the business. Geode Capital Management LLC raised its stake in Safety Income & Growth by 5.2% during the 4th quarter. Geode Capital Management LLC now owns 88,180 shares of the company’s stock valued at $1,658,000 after purchasing an additional 4,371 shares during the period. Barclays PLC raised its stake in Safety Income & Growth by 46.3% during the 4th quarter. Barclays PLC now owns 5,193 shares of the company’s stock valued at $97,000 after purchasing an additional 1,643 shares during the period. Northern Trust Corp raised its stake in Safety Income & Growth by 1.1% during the 4th quarter. Northern Trust Corp now owns 86,502 shares of the company’s stock valued at $1,627,000 after purchasing an additional 900 shares during the period. Bank of New York Mellon Corp raised its stake in Safety Income & Growth by 1.4% during the 4th quarter. Bank of New York Mellon Corp now owns 72,012 shares of the company’s stock valued at $1,355,000 after purchasing an additional 1,004 shares during the period. Finally, BlackRock Inc. raised its stake in Safety Income & Growth by 3.0% during the 4th quarter. BlackRock Inc. now owns 467,310 shares of the company’s stock valued at $8,789,000 after purchasing an additional 13,408 shares during the period. 34.63% of the stock is currently owned by institutional investors.

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Safety Income & Growth Company Profile (NYSE:SAFE)

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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