Safety Income & Growth Inc (SAFE) Major Shareholder Istar Inc. Acquires 18,865 Shares of Stock

Safety Income & Growth Inc (NYSE:SAFE) major shareholder Istar Inc. bought 18,865 shares of the stock in a transaction on Tuesday, October 30th. The shares were acquired at an average cost of $17.60 per share, with a total value of $332,024.00. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Large shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

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

  • On Thursday, September 13th, Istar Inc. bought 3,924 shares of Safety Income & Growth stock. The shares were acquired at an average cost of $16.90 per share, with a total value of $66,315.60.
  • On Thursday, September 6th, Istar Inc. bought 129,600 shares of Safety Income & Growth stock. The shares were acquired at an average cost of $16.35 per share, with a total value of $2,118,960.00.

NYSE:SAFE opened at $17.51 on Wednesday. The stock has a market cap of $319.02 million, a PE ratio of 53.03 and a beta of -0.30. Safety Income & Growth Inc has a 1-year low of $15.57 and a 1-year high of $20.17.



Safety Income & Growth (NYSE:SAFE) last released its quarterly earnings results on Thursday, October 25th. The company reported $0.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.28 by ($0.17). The firm had revenue of $11.64 million for the quarter, compared to the consensus estimate of $11.76 million. Safety Income & Growth had a return on equity of 1.67% and a net margin of 14.62%. On average, research analysts anticipate that Safety Income & Growth Inc will post 1.15 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Monday, October 15th. Stockholders of record on Friday, September 28th were issued a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a dividend yield of 3.43%. The ex-dividend date was Thursday, September 27th.

SAFE has been the topic of several research reports. Zacks Investment Research cut Safety Income & Growth from a “buy” rating to a “hold” rating in a report on Saturday. Barclays restated a “hold” rating and set a $20.00 price target on shares of Safety Income & Growth in a report on Sunday, October 14th. Four investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Safety Income & Growth presently has a consensus rating of “Hold” and a consensus price target of $19.58.

Several large investors have recently added to or reduced their stakes in SAFE. New York State Common Retirement Fund grew its holdings in shares of Safety Income & Growth by 66.7% during the first quarter. New York State Common Retirement Fund now owns 7,500 shares of the company’s stock worth $120,000 after purchasing an additional 3,000 shares during the last quarter. Paloma Partners Management Co bought a new stake in shares of Safety Income & Growth during the second quarter worth about $222,000. Acadian Asset Management LLC bought a new stake in shares of Safety Income & Growth during the second quarter worth about $230,000. Cubist Systematic Strategies LLC bought a new stake in shares of Safety Income & Growth during the first quarter worth about $240,000. Finally, Bank of America Corp DE grew its holdings in shares of Safety Income & Growth by 21.0% during 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. Institutional investors own 36.98% of the company’s stock.

About Safety Income & Growth

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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