Insider Buying: Safety Income & Growth Inc (SAFE) Major Shareholder Buys $1,292,274.35 in Stock

Safety Income & Growth Inc (NYSE:SAFE) major shareholder Istar Inc. purchased 71,993 shares of Safety Income & Growth stock in a transaction dated Thursday, January 11th. The stock was bought at an average cost of $17.95 per share, with a total value of $1,292,274.35. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Istar Inc. also recently made the following trade(s):

  • On Monday, January 8th, Istar Inc. purchased 59,420 shares of Safety Income & Growth stock. The stock was bought at an average cost of $17.95 per share, with a total value of $1,066,589.00.
  • On Wednesday, January 3rd, Istar Inc. purchased 71,434 shares of Safety Income & Growth stock. The stock was bought at an average cost of $17.88 per share, with a total value of $1,277,239.92.
  • On Thursday, December 28th, Istar Inc. bought 49,646 shares of Safety Income & Growth stock. The shares were acquired at an average cost of $17.81 per share, for a total transaction of $884,195.26.
  • On Tuesday, December 26th, Istar Inc. bought 63,545 shares of Safety Income & Growth stock. The shares were acquired at an average cost of $17.81 per share, for a total transaction of $1,131,736.45.
  • On Wednesday, December 20th, Istar Inc. bought 45,859 shares of Safety Income & Growth stock. The shares were acquired at an average cost of $18.05 per share, for a total transaction of $827,754.95.
  • On Friday, December 15th, Istar Inc. bought 51,816 shares of Safety Income & Growth stock. The shares were acquired at an average cost of $18.04 per share, for a total transaction of $934,760.64.
  • On Tuesday, December 12th, Istar Inc. bought 34,790 shares of Safety Income & Growth stock. The shares were acquired at an average cost of $17.90 per share, for a total transaction of $622,741.00.
  • On Friday, December 8th, Istar Inc. bought 60,752 shares of Safety Income & Growth stock. The shares were acquired at an average cost of $17.89 per share, for a total transaction of $1,086,853.28.
  • On Tuesday, December 5th, Istar Inc. bought 51,485 shares of Safety Income & Growth stock. The shares were acquired at an average cost of $17.98 per share, for a total transaction of $925,700.30.
  • On Thursday, November 30th, Istar Inc. bought 22,838 shares of Safety Income & Growth stock. The shares were acquired at an average cost of $18.50 per share, for a total transaction of $422,503.00.

Safety Income & Growth Inc (NYSE:SAFE) opened at $17.93 on Friday. Safety Income & Growth Inc has a 1 year low of $17.27 and a 1 year high of $20.00.

Safety Income & Growth (NYSE:SAFE) last posted its quarterly earnings results on Thursday, October 26th. The company reported ($0.04) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.12 by ($0.16). The business had revenue of $6.26 billion during the quarter, compared to analyst estimates of $5.86 million. research analysts expect that Safety Income & Growth Inc will post 0.44 EPS for the current year.

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

Several research analysts recently issued reports on the company. Zacks Investment Research lowered Safety Income & Growth from a “hold” rating to a “sell” rating in a research report on Wednesday. Bank of America reduced 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. Finally, Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Safety Income & Growth in a research report on Tuesday, October 31st. One analyst has rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company. Safety Income & Growth currently has an average rating of “Hold” and an average target price of $20.58.

A number of institutional investors have recently bought and sold shares of SAFE. Cubist Systematic Strategies LLC purchased a new stake in Safety Income & Growth during the 3rd quarter valued at about $170,000. Schwab Charles Investment Management Inc. purchased a new stake in Safety Income & Growth during the 3rd quarter valued at about $215,000. Strs Ohio purchased a new stake in Safety Income & Growth during the 3rd quarter valued at about $299,000. California State Teachers Retirement System purchased a new stake in Safety Income & Growth during the 3rd quarter valued at about $313,000. Finally, Pinnacle Associates Ltd. grew its stake in Safety Income & Growth by 90.7% during the 3rd quarter. Pinnacle Associates Ltd. now owns 19,500 shares of the company’s stock valued at $363,000 after purchasing an additional 9,275 shares during the last quarter. Institutional investors and hedge funds own 40.34% of the company’s stock.

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About Safety Income & Growth

Insider Buying and Selling by Quarter for Safety Income & Growth (NYSE:SAFE)

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