Safety Income & Growth Inc (NYSE:SAFE) Major Shareholder Istar Inc. Acquires 49,646 Shares

Safety Income & Growth Inc (NYSE:SAFE) major shareholder Istar Inc. acquired 49,646 shares of the company’s stock in a transaction that occurred on Thursday, December 28th. The stock was acquired at an average cost of $17.81 per share, for a total transaction of $884,195.26. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Major shareholders that own more than 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 Thursday, January 11th, Istar Inc. acquired 71,993 shares of Safety Income & Growth stock. The stock was acquired at an average cost of $17.95 per share, for a total transaction of $1,292,274.35.
  • On Monday, January 8th, Istar Inc. acquired 59,420 shares of Safety Income & Growth stock. The stock was acquired at an average cost of $17.95 per share, for a total transaction of $1,066,589.00.
  • On Wednesday, January 3rd, Istar Inc. acquired 71,434 shares of Safety Income & Growth stock. The stock was acquired at an average cost of $17.88 per share, for a total transaction of $1,277,239.92.
  • On Tuesday, December 26th, Istar Inc. acquired 63,545 shares of Safety Income & Growth stock. The stock was acquired at an average cost of $17.81 per share, for a total transaction of $1,131,736.45.
  • On Wednesday, December 20th, Istar Inc. purchased 45,859 shares of Safety Income & Growth stock. The shares were purchased at an average cost of $18.05 per share, for a total transaction of $827,754.95.
  • On Friday, December 15th, Istar Inc. purchased 51,816 shares of Safety Income & Growth stock. The shares were purchased at an average cost of $18.04 per share, for a total transaction of $934,760.64.
  • On Tuesday, December 12th, Istar Inc. purchased 34,790 shares of Safety Income & Growth stock. The shares were purchased at an average cost of $17.90 per share, for a total transaction of $622,741.00.
  • On Friday, December 8th, Istar Inc. purchased 60,752 shares of Safety Income & Growth stock. The shares were purchased at an average cost of $17.89 per share, for a total transaction of $1,086,853.28.
  • On Tuesday, December 5th, Istar Inc. purchased 51,485 shares of Safety Income & Growth stock. The shares were purchased at an average cost of $17.98 per share, for a total transaction of $925,700.30.
  • On Thursday, November 30th, Istar Inc. purchased 22,838 shares of Safety Income & Growth stock. The shares were purchased at an average cost of $18.50 per share, for a total transaction of $422,503.00.

Safety Income & Growth Inc (NYSE SAFE) opened at $17.93 on Friday. Safety Income & Growth Inc has a 1-year low of $17.27 and a 1-year high of $20.00.

Safety Income & Growth (NYSE:SAFE) last released its earnings results on Thursday, October 26th. The company reported ($0.04) EPS for the quarter, missing the consensus estimate of $0.12 by ($0.16). The firm had revenue of $6.26 billion for the quarter, compared to analysts’ expectations of $5.86 million. analysts predict that Safety Income & Growth Inc will post 0.44 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 29th will be issued a $0.15 dividend. This represents a $0.60 annualized dividend and a dividend yield of 3.35%. The ex-dividend date of this dividend is Thursday, December 28th.

Several hedge funds have recently added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new position in shares of Safety Income & Growth in the third quarter worth $170,000. California State Teachers Retirement System purchased a new position in shares of Safety Income & Growth in the third quarter worth $313,000. Pinnacle Associates Ltd. lifted its holdings in shares of Safety Income & Growth by 90.7% in the third quarter. Pinnacle Associates Ltd. now owns 19,500 shares of the company’s stock worth $363,000 after buying an additional 9,275 shares in the last quarter. Schwab Charles Investment Management Inc. purchased a new position in shares of Safety Income & Growth in the third quarter worth $215,000. Finally, Bank of New York Mellon Corp purchased a new position in shares of Safety Income & Growth in the third quarter worth $627,000. 40.34% of the stock is currently owned by hedge funds and other institutional investors.

Several equities analysts have weighed in on SAFE shares. Bank of America lowered their price target on shares of Safety Income & Growth from $20.00 to $18.90 and set a “neutral” rating on the stock in a report on Monday, November 6th. Ladenburg Thalmann Financial Services reaffirmed a “buy” rating on shares of Safety Income & Growth in a report on Tuesday, October 31st. Finally, Zacks Investment Research downgraded shares of Safety Income & Growth from a “hold” rating to a “sell” rating in a report on Thursday, October 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and one has given a buy rating to the company. Safety Income & Growth has a consensus rating of “Hold” and an average price target of $20.58.

WARNING: This story was first reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this story on another domain, it was stolen and reposted in violation of United States & international copyright law. The original version of this story can be accessed at https://ledgergazette.com/2018/01/13/insider-buying-safety-income-growth-inc-safe-major-shareholder-purchases-49646-shares-of-stock.html.

Safety Income & Growth Company Profile

Insider Buying and Selling by Quarter for Safety Income & Growth (NYSE:SAFE)

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