Safety Income & Growth Inc (SAFE) Rating Increased to Hold at Zacks Investment Research

Zacks Investment Research upgraded shares of Safety Income & Growth Inc (NASDAQ:SAFE) from a sell rating to a hold rating in a research note published on Saturday morning.

According to Zacks, “Safety, Income and Growth, Inc. acquires, owns, manages, finances and capitalizes ground net leases. Safety, Income and Growth, Inc. is based in New York, United States. “

A number of other analysts also recently weighed in on SAFE. Ladenburg Thalmann Financial Services initiated coverage on shares of Safetyome & Growth in a research report on Friday, July 14th. They issued a buy rating and a $22.00 target price on the stock. Barclays PLC initiated coverage on shares of Safetyome & Growth in a research report on Monday, July 17th. They issued an equal weight rating and a $21.00 target price on the stock. J P Morgan Chase & Co initiated coverage on shares of Safetyome & Growth in a research report on Monday, July 17th. They issued a neutral rating and a $21.00 target price on the stock. Bank of America Corporation reaffirmed a neutral rating and issued a $20.00 target price on shares of Safetyome & Growth in a research report on Monday, July 17th. Finally, UBS AG initiated coverage on shares of Safetyome & Growth in a research report on Monday, July 17th. They issued a market perform rating on the stock. Seven research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $20.58.

Safetyome & Growth (NASDAQ:SAFE) opened at $17.67 on Friday. Safetyome & Growth has a 1-year low of $17.27 and a 1-year high of $20.00.

Safetyome & Growth (NASDAQ:SAFE) last released its earnings results on Thursday, October 26th. The company reported ($0.04) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.12 by ($0.16). The business had revenue of $6.26 billion during the quarter, compared to analysts’ expectations of $5.86 million. Safetyome & Growth had a negative return on equity of 4.24% and a negative net margin of 31.66%.

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The company also recently disclosed a special dividend, which was paid on Monday, October 16th. Investors of record on Monday, October 2nd were given a dividend of $0.15 per share. The ex-dividend date of this dividend was Friday, September 29th.

In other news, major shareholder Istar Inc. acquired 36,338 shares of the business’s stock in a transaction that occurred on Friday, September 1st. The shares were bought at an average cost of $19.73 per share, with a total value of $716,948.74. Following the transaction, the insider now owns 5,908,572 shares of the company’s stock, valued at approximately $116,576,125.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders have purchased a total of 727,144 shares of company stock worth $14,096,860 over the last three months.

A number of hedge funds have recently made changes to their positions in the stock. Cubist Systematic Strategies LLC purchased a new stake in Safetyome & Growth during the 3rd quarter valued at about $170,000. California State Teachers Retirement System purchased a new stake in Safetyome & Growth during the 3rd quarter valued at about $313,000. Pinnacle Associates Ltd. grew its position in Safetyome & 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. Schwab Charles Investment Management Inc. purchased a new stake in Safetyome & Growth during the 3rd quarter valued at about $215,000. Finally, Bank of New York Mellon Corp purchased a new stake in Safetyome & Growth during the 3rd quarter valued at about $627,000.

Safetyome & Growth Company Profile

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Analyst Recommendations for Safetyome & Growth (NASDAQ:SAFE)

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