Safety Income & Growth Inc (NASDAQ:SAFE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a report released on Thursday.

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. “

Several other equities research analysts have also recently weighed in on the company. Mizuho initiated coverage on Safetyome & Growth in a report on Wednesday, August 30th. They issued a “neutral” rating and a $20.00 target price for the company. Ladenburg Thalmann Financial Services restated a “buy” rating on shares of Safetyome & Growth in a research note on Monday, July 31st. Raymond James Financial, Inc. initiated coverage on Safetyome & Growth in a research note on Tuesday, July 18th. They set a “market perform” rating for the company. UBS AG initiated coverage on Safetyome & Growth in a research note on Monday, July 17th. They set a “market perform” rating for the company. Finally, Bank of America Corporation restated a “neutral” rating and set a $20.00 price objective on shares of Safetyome & Growth in a research note on Monday, July 17th. 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’s stock. Safetyome & Growth presently has a consensus rating of “Hold” and an average price target of $20.80.

Shares of Safetyome & Growth (NASDAQ:SAFE) traded down 1.84% during trading on Thursday, hitting $19.24. The stock had a trading volume of 1,251,464 shares. The stock has a 50-day moving average price of $19.23 and a 200 day moving average price of $19.27. The company has a market cap of $349.98 million and a P/E ratio of 115.21. Safetyome & Growth has a 12 month low of $18.02 and a 12 month high of $20.00.

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In other Safetyome & Growth news, major shareholder Istar Inc. bought 2,250,000 shares of Safetyome & Growth stock in a transaction that occurred on Tuesday, June 27th. The shares were bought at an average cost of $20.00 per share, with a total value of $45,000,000.00. Following the transaction, the insider now directly owns 5,025,000 shares of the company’s stock, valued at approximately $100,500,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robin Josephs bought 11,250 shares of Safetyome & Growth stock in a transaction that occurred on Tuesday, June 27th. The shares were acquired at an average cost of $20.00 per share, for a total transaction of $225,000.00. Following the completion of the transaction, the director now directly owns 21,250 shares in the company, valued at $425,000. The disclosure for this purchase can be found here. Insiders have purchased a total of 3,451,727 shares of company stock valued at $68,118,067 over the last 90 days.

A number of large investors have recently made changes to their positions in SAFE. FMR LLC acquired a new position in Safetyome & Growth during the 2nd quarter valued at about $41,620,000. V3 Capital Management L.P. acquired a new position in Safetyome & Growth during the 2nd quarter valued at about $8,139,000. State of New Jersey Common Pension Fund D acquired a new position in Safetyome & Growth during the 2nd quarter valued at about $6,703,000. Vanguard Group Inc. acquired a new position in Safetyome & Growth during the 2nd quarter valued at about $4,787,000. Finally, Balyasny Asset Management LLC acquired a new position in Safetyome & Growth during the 2nd quarter valued at about $4,286,000.

Safetyome & Growth Company Profile

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Analyst Recommendations for Safetyome & Growth (NASDAQ:SAFE)

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