Istar Inc. Acquires 9,674 Shares of Safety Income & Growth Inc (SAFE) Stock

Safety Income & Growth Inc (NYSE:SAFE) major shareholder Istar Inc. acquired 9,674 shares of the company’s stock in a transaction dated Thursday, November 8th. The stock was acquired at an average cost of $18.55 per share, for a total transaction of $179,452.70. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own at least 10% of a company’s shares are required to disclose their sales and purchases with the SEC.

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

  • On Monday, November 5th, Istar Inc. acquired 9,958 shares of Safety Income & Growth stock. The stock was acquired at an average cost of $17.98 per share, for a total transaction of $179,044.84.
  • On Thursday, November 1st, Istar Inc. purchased 11,554 shares of Safety Income & Growth stock. The shares were purchased at an average cost of $17.87 per share, for a total transaction of $206,469.98.
  • On Tuesday, October 30th, Istar Inc. purchased 18,865 shares of Safety Income & Growth stock. The shares were purchased at an average cost of $17.60 per share, for a total transaction of $332,024.00.
  • On Thursday, September 13th, Istar Inc. purchased 3,924 shares of Safety Income & Growth stock. The shares were purchased at an average cost of $16.90 per share, for a total transaction of $66,315.60.
  • On Thursday, September 6th, Istar Inc. purchased 129,600 shares of Safety Income & Growth stock. The shares were purchased at an average cost of $16.35 per share, for a total transaction of $2,118,960.00.

SAFE stock opened at $18.43 on Friday. Safety Income & Growth Inc has a fifty-two week low of $15.57 and a fifty-two week high of $20.17. The company has a market cap of $336.89 million, a P/E ratio of 56.00 and a beta of 0.08.

Safety Income & Growth (NYSE:SAFE) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.11 earnings per share for the quarter, missing analysts’ consensus estimates of $0.28 by ($0.17). Safety Income & Growth had a return on equity of 1.67% and a net margin of 14.62%. The firm had revenue of $11.64 million for the quarter, compared to analyst estimates of $11.76 million. Analysts anticipate that Safety Income & Growth Inc will post 1.08 earnings per share for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 3.26%. The ex-dividend date of this dividend was Thursday, September 27th.

A number of research analysts recently weighed in on the company. Zacks Investment Research downgraded Safety Income & Growth from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. Barclays reaffirmed a “hold” rating and set a $21.00 price target on shares of Safety Income & Growth in a research note on Friday, August 17th.

A number of hedge funds have recently bought and sold shares of SAFE. Paloma Partners Management Co acquired a new position in Safety Income & Growth during the 2nd quarter worth approximately $222,000. Acadian Asset Management LLC purchased a new stake in shares of Safety Income & Growth in the second quarter worth approximately $230,000. Cubist Systematic Strategies LLC purchased a new stake in shares of Safety Income & Growth in the first quarter worth approximately $240,000. Bank of America Corp DE raised its stake in shares of Safety Income & Growth by 21.0% in the second quarter. Bank of America Corp DE now owns 84,134 shares of the company’s stock worth $1,596,000 after purchasing an additional 14,581 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its stake in shares of Safety Income & Growth by 4,799.5% in the first quarter. JPMorgan Chase & Co. now owns 109,455 shares of the company’s stock worth $1,750,000 after purchasing an additional 107,221 shares during the last quarter. 36.98% of the stock is currently owned by institutional investors and hedge funds.

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Safety Income & Growth Company Profile

Safety, Income & Growth Inc (NYSE: SAFE) is the first publicly traded company that focuses on acquiring, owning, managing and capitalizing ground leases. The Company seeks to provide safe, growing income and capital appreciation to shareholders by building a diversified portfolio of high quality ground leases.

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