Safety Income & Growth Inc (SAFE) Major Shareholder Istar Inc. Acquires 7,700 Shares

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Safety Income & Growth Inc (NYSE:SAFE) major shareholder Istar Inc. acquired 7,700 shares of Safety Income & Growth stock in a transaction dated Wednesday, March 20th. The stock was bought at an average price of $20.69 per share, for a total transaction of $159,313.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 Friday, March 15th, Istar Inc. bought 8,400 shares of Safety Income & Growth stock. The shares were acquired at an average price of $19.95 per share, for a total transaction of $167,580.00.
  • On Tuesday, March 12th, Istar Inc. bought 7,225 shares of Safety Income & Growth stock. The shares were acquired at an average price of $19.42 per share, for a total transaction of $140,309.50.
  • On Thursday, March 7th, Istar Inc. bought 7,941 shares of Safety Income & Growth stock. The shares were acquired at an average price of $19.38 per share, for a total transaction of $153,896.58.
  • On Monday, March 4th, Istar Inc. bought 8,180 shares of Safety Income & Growth stock. The shares were acquired at an average price of $19.13 per share, for a total transaction of $156,483.40.
  • On Wednesday, February 27th, Istar Inc. bought 7,489 shares of Safety Income & Growth stock. The shares were acquired at an average price of $19.42 per share, for a total transaction of $145,436.38.
  • On Thursday, February 21st, Istar Inc. bought 7,509 shares of Safety Income & Growth stock. The shares were acquired at an average price of $19.35 per share, for a total transaction of $145,299.15.
  • On Monday, December 31st, Istar Inc. bought 14,534 shares of Safety Income & Growth stock. The shares were acquired at an average price of $19.06 per share, for a total transaction of $277,018.04.
  • On Thursday, December 27th, Istar Inc. bought 21,300 shares of Safety Income & Growth stock. The shares were acquired at an average price of $18.99 per share, for a total transaction of $404,487.00.
  • On Friday, December 21st, Istar Inc. bought 17,100 shares of Safety Income & Growth stock. The shares were acquired at an average price of $19.36 per share, for a total transaction of $331,056.00.

NYSE SAFE traded down $0.08 during trading hours on Wednesday, hitting $20.61. 30,100 shares of the company’s stock were exchanged, compared to its average volume of 31,417. The company has a market capitalization of $378.13 million, a PE ratio of 31.98 and a beta of 0.13. Safety Income & Growth Inc has a 12-month low of $15.57 and a 12-month high of $21.19.

Safety Income & Growth (NYSE:SAFE) last announced its quarterly earnings results on Thursday, February 14th. The company reported $0.24 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.01). The firm had revenue of $14.81 million for the quarter, compared to analyst estimates of $12.74 million. Safety Income & Growth had a return on equity of 3.22% and a net margin of 23.61%. Sell-side analysts predict that Safety Income & Growth Inc will post 1.36 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Monday, April 15th. Shareholders of record on Friday, March 29th will be paid a dividend of $0.15 per share. The ex-dividend date of this dividend is Thursday, March 28th. This represents a $0.60 annualized dividend and a yield of 2.91%. Safety Income & Growth’s dividend payout ratio is presently 93.75%.

SAFE has been the topic of several recent analyst reports. Zacks Investment Research downgraded Safety Income & Growth from a “hold” rating to a “strong sell” rating in a research report on Wednesday, January 9th. Barclays upgraded Safety Income & Growth from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $21.00 to $22.00 in a research report on Monday, February 4th. Finally, ValuEngine upgraded Safety Income & Growth from a “hold” rating to a “buy” rating in a research report on Tuesday, February 19th.

A number of large investors have recently made changes to their positions in SAFE. Pinnacle Associates Ltd. increased its stake in Safety Income & Growth by 58.2% during the third quarter. Pinnacle Associates Ltd. now owns 17,400 shares of the company’s stock worth $326,000 after acquiring an additional 6,400 shares during the last quarter. GSA Capital Partners LLP acquired a new stake in Safety Income & Growth during the third quarter worth about $328,000. Renaissance Technologies LLC acquired a new stake in Safety Income & Growth during the third quarter worth about $1,026,000. Vanguard Group Inc. increased its stake in Safety Income & Growth by 13.6% during the third quarter. Vanguard Group Inc. now owns 489,102 shares of the company’s stock worth $9,161,000 after acquiring an additional 58,531 shares during the last quarter. Finally, Vanguard Group Inc increased its stake in Safety Income & Growth by 13.6% during the third quarter. Vanguard Group Inc now owns 489,102 shares of the company’s stock worth $9,161,000 after acquiring an additional 58,531 shares during the last quarter. Institutional investors own 34.63% of the company’s stock.

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Safety Income & Growth Company Profile

Safety, Income & Growth Inc (NYSE:SAFE) is the first publicly traded company focused on ground leases. The Company seeks to provide real estate owners with better, lower cost capital through its modern ground lease structure, while delivering safe, growing income and long-term capital appreciation to its shareholders.

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