Equities analysts forecast that Safety Income & Growth Inc (NYSE:SAFE) will report sales of $12.81 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have issued estimates for Safety Income & Growth’s earnings. The lowest sales estimate is $12.72 million and the highest is $12.90 million. Safety Income & Growth reported sales of $6.75 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 89.8%. The firm is expected to report its next quarterly earnings results on Thursday, February 21st.
On average, analysts expect that Safety Income & Growth will report full-year sales of $47.72 million for the current fiscal year, with estimates ranging from $47.63 million to $47.80 million. For the next financial year, analysts anticipate that the company will post sales of $70.52 million, with estimates ranging from $65.10 million to $75.94 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that that provide coverage for Safety Income & Growth.
Safety Income & Growth (NYSE:SAFE) last issued its quarterly earnings data on Thursday, October 25th. The company reported $0.11 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.17). Safety Income & Growth had a net margin of 14.62% and a return on equity of 1.67%. The firm had revenue of $11.64 million during the quarter, compared to analyst estimates of $11.76 million.
SAFE has been the subject of a number of research reports. Zacks Investment Research cut Safety Income & Growth from a “buy” rating to a “hold” rating in a research note on Saturday, October 27th. Barclays reaffirmed a “hold” rating and issued a $20.00 price objective on shares of Safety Income & Growth in a research note on Sunday, October 14th.
In related news, insider Marcos Alvarado sold 2,900 shares of the business’s stock in a transaction on Monday, August 27th. The stock was sold at an average price of $16.46, for a total transaction of $47,734.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Istar Inc. bought 9,674 shares of the stock in a transaction that occurred on Thursday, November 8th. The shares were bought at an average cost of $18.55 per share, with a total value of $179,452.70. The disclosure for this purchase can be found here. Insiders have purchased a total of 183,575 shares of company stock valued at $3,082,267 over the last three months. 1.21% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Northern Trust Corp increased its holdings in shares of Safety Income & Growth by 6.1% during the first quarter. Northern Trust Corp now owns 112,354 shares of the company’s stock valued at $1,796,000 after acquiring an additional 6,490 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Safety Income & Growth by 4,799.5% during the first 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 in the last quarter. Foundry Partners LLC bought a new position in shares of Safety Income & Growth during the second quarter valued at $5,687,000. Acadian Asset Management LLC bought a new position in shares of Safety Income & Growth during the second quarter valued at $230,000. Finally, Bank of America Corp DE increased its holdings in shares of Safety Income & Growth by 21.0% during the second quarter. Bank of America Corp DE now owns 84,134 shares of the company’s stock valued at $1,596,000 after acquiring an additional 14,581 shares in the last quarter. 36.98% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE SAFE opened at $18.43 on Friday. Safety Income & Growth has a twelve month low of $15.57 and a twelve month high of $20.17. The firm has a market capitalization of $335.25 million, a PE ratio of 55.73 and a beta of 0.08.
The business also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were paid a dividend of $0.15 per share. The ex-dividend date of this dividend was Thursday, September 27th. This represents a $0.60 annualized dividend and a yield of 3.26%.
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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