Safety Income & Growth (SAFE) Lifted to “Buy” at ValuEngine

Safety Income & Growth (NYSE:SAFE) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday, ValuEngine reports.

SAFE has been the subject of several other research reports. Zacks Investment Research cut Safety Income & Growth from a “strong-buy” rating to a “hold” rating in a report on Saturday, April 6th. Barclays raised Safety Income & Growth from an “equal weight” rating to an “overweight” rating and increased their price target for the company from $21.00 to $22.00 in a report on Monday, February 4th.

NYSE:SAFE opened at $25.43 on Wednesday. Safety Income & Growth has a one year low of $16.13 and a one year high of $25.59. The company has a market capitalization of $455.85 million, a P/E ratio of 39.73 and a beta of 0.17.

Safety Income & Growth (NYSE:SAFE) last posted its quarterly earnings results on Thursday, April 25th. The company reported $0.36 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.01). Safety Income & Growth had a net margin of 23.61% and a return on equity of 3.22%. Research analysts forecast that Safety Income & Growth will post 1.46 EPS for the current year.

In other Safety Income & Growth news, major shareholder Istar Inc. bought 7,489 shares of the business’s stock in a transaction on Wednesday, February 27th. The stock was bought at an average price of $19.42 per share, with a total value of $145,436.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In the last ninety days, insiders purchased 118,277 shares of company stock valued at $2,497,036. Insiders own 1.21% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. 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. 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. BlackRock Inc. increased its stake in Safety Income & Growth by 3.0% during the fourth quarter. BlackRock Inc. now owns 467,310 shares of the company’s stock worth $8,789,000 after acquiring an additional 13,408 shares during the last quarter. State of New Jersey Common Pension Fund D increased its stake in Safety Income & Growth by 4.4% during the fourth quarter. State of New Jersey Common Pension Fund D now owns 418,916 shares of the company’s stock worth $7,880,000 after acquiring an additional 17,500 shares during the last quarter. Finally, Geode Capital Management LLC increased its stake in Safety Income & Growth by 5.2% during the fourth quarter. Geode Capital Management LLC now owns 88,180 shares of the company’s stock worth $1,658,000 after acquiring an additional 4,371 shares during the last quarter. 34.62% of the stock is owned by institutional investors.

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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