Strs Ohio lowered its stake in Safety Income & Growth Inc (NYSE:SAFE) by 25.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,499 shares of the company’s stock after selling 4,640 shares during the period. Strs Ohio owned about 0.07% of Safety Income & Growth worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other hedge funds also recently bought and sold shares of SAFE. New York State Common Retirement Fund raised its position in Safety Income & Growth by 66.7% in the 1st quarter. New York State Common Retirement Fund now owns 7,500 shares of the company’s stock valued at $120,000 after purchasing an additional 3,000 shares in the last quarter. Acadian Asset Management LLC purchased a new position in shares of Safety Income & Growth in the 2nd quarter valued at about $230,000. Cubist Systematic Strategies LLC purchased a new position in shares of Safety Income & Growth in the 1st quarter valued at about $240,000. Teachers Insurance & Annuity Association of America increased its holdings in shares of Safety Income & Growth by 37.7% in the 1st quarter. Teachers Insurance & Annuity Association of America now owns 15,159 shares of the company’s stock valued at $242,000 after acquiring an additional 4,153 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in shares of Safety Income & Growth by 4,799.5% in the 1st quarter. JPMorgan Chase & Co. now owns 109,455 shares of the company’s stock valued at $1,750,000 after acquiring an additional 107,221 shares during the last quarter. 36.73% of the stock is currently owned by institutional investors.
A number of research analysts have recently commented on the company. Barclays reiterated a “hold” rating and issued a $21.00 price objective on shares of Safety Income & Growth in a report on Friday, August 17th. Zacks Investment Research downgraded Safety Income & Growth from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 21st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $19.78.
Shares of SAFE traded down $0.15 during mid-day trading on Friday, reaching $17.96. The company’s stock had a trading volume of 31,969 shares, compared to its average volume of 67,163. Safety Income & Growth Inc has a 12-month low of $15.57 and a 12-month high of $20.17. The company has a market cap of $341.45 million, a P/E ratio of 104.06 and a beta of -0.30.
Safety Income & Growth (NYSE:SAFE) last released its quarterly earnings data on Thursday, July 26th. The company reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.16 by ($0.07). Safety Income & Growth had a net margin of 9.26% and a return on equity of 0.93%. The business had revenue of $11.57 million during the quarter, compared to analysts’ expectations of $9.75 million. Analysts forecast that Safety Income & Growth Inc will post 1.15 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Investors of record on Friday, September 28th will be paid a dividend of $0.15 per share. The ex-dividend date is Thursday, September 27th. This represents a $0.60 dividend on an annualized basis and a yield of 3.34%.
In other news, major shareholder Istar Inc. purchased 3,924 shares of the company’s stock in a transaction that occurred on Thursday, September 13th. The shares were purchased at an average price of $16.90 per share, for a total transaction of $66,315.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Marcos Alvarado sold 2,900 shares of the firm’s stock in a transaction that occurred on Monday, August 27th. The stock was sold at an average price of $16.46, for a total value of $47,734.00. The disclosure for this sale can be found here. Insiders have purchased a total of 157,164 shares of company stock worth $2,597,284 in the last 90 days. 1.21% of the stock is currently owned by company insiders.
Safety Income & Growth Company Profile
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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