Shares of Safety Income & Growth Inc (NYSE:SAFE) have earned an average recommendation of “Hold” from the eight ratings firms that are currently covering the stock, MarketBeat reports. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have issued ratings on the stock in the last year is $19.78.
Several brokerages have recently issued reports on SAFE. Zacks Investment Research downgraded Safety Income & Growth from a “hold” rating to a “sell” rating in a research report on Wednesday, January 10th. Mizuho set a $18.00 price objective on Safety Income & Growth and gave the company a “hold” rating in a research report on Friday, February 16th. Finally, Ladenburg Thalmann Financial Services restated a “buy” rating and issued a $20.00 price objective (down from $22.00) on shares of Safety Income & Growth in a research report on Tuesday, February 20th. They noted that the move was a valuation call.
Safety Income & Growth stock traded down $0.68 on Friday, reaching $16.13. The company’s stock had a trading volume of 56,160 shares, compared to its average volume of 74,731. Safety Income & Growth has a one year low of $15.79 and a one year high of $20.00.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 13th. Investors of record on Friday, March 30th will be paid a $0.15 dividend. The ex-dividend date of this dividend is Wednesday, March 28th. This represents a $0.60 annualized dividend and a yield of 3.72%.
In other Safety Income & Growth news, CFO Geoffrey G. Jervis bought 33,850 shares of the company’s stock in a transaction that occurred on Tuesday, February 20th. The stock was purchased at an average cost of $16.25 per share, for a total transaction of $550,062.50. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Istar Inc. bought 59,420 shares of the company’s stock in a transaction that occurred on Monday, January 8th. The stock was acquired at an average price of $17.95 per share, with a total value of $1,066,589.00. The disclosure for this purchase can be found here. Insiders purchased 597,895 shares of company stock valued at $10,630,584 over the last quarter.
A number of institutional investors have recently added to or reduced their stakes in SAFE. Vanguard Group Inc. acquired a new position in Safety Income & Growth in the second quarter valued at $4,787,000. State Treasurer State of Michigan acquired a new stake in Safety Income & Growth during the fourth quarter worth about $3,054,000. Nationwide Fund Advisors acquired a new stake in Safety Income & Growth during the third quarter worth about $2,723,000. Addison Capital Co acquired a new stake in Safety Income & Growth during the fourth quarter worth about $1,370,000. Finally, Two Sigma Investments LP increased its stake in Safety Income & Growth by 312.8% during the fourth quarter. Two Sigma Investments LP now owns 63,949 shares of the company’s stock worth $1,126,000 after acquiring an additional 48,459 shares during the last quarter. Hedge funds and other institutional investors own 40.55% of the company’s stock.
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About Safety Income & Growth
Safety, Income & Growth Inc, formerly Safety, Income and Growth, Inc, is formed primarily to acquire, own, manage, finance and capitalize ground net leases (GNLs). The Company’s portfolio consists of 12 properties, which includes Doubletree Seattle Airport, One Ally Center, Hilton Salt Lake, Doubletree Mission Valley, Doubletree Sonoma, Doubletree Durango, Dallas Market Center: Sheraton Suites, Northside Forsyth Hospital Medical Center, NASA/JPSS Headquarters, The Buckler Apartments, Dallas Market Center: Marriott Courtyard and Lock Up Self Storage Facility.
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