Analysts Anticipate Safety Income & Growth Inc (SAFE) to Announce $0.26 EPS

Analysts expect Safety Income & Growth Inc (NYSE:SAFE) to report $0.26 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for Safety Income & Growth’s earnings, with the highest EPS estimate coming in at $0.26 and the lowest estimate coming in at $0.25. Safety Income & Growth posted earnings of ($0.07) per share during the same quarter last year, which suggests a positive year over year growth rate of 471.4%. 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 earnings of $1.08 per share for the current year, with EPS estimates ranging from $1.03 to $1.15. For the next financial year, analysts anticipate that the firm will report earnings of $1.53 per share, with EPS estimates ranging from $1.44 to $1.61. Zacks’ earnings per share averages are an average based on a survey of sell-side analysts that cover Safety Income & Growth.

Safety Income & Growth (NYSE:SAFE) last posted its quarterly earnings results on Thursday, October 25th. The company reported $0.11 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.28 by ($0.17). The company had revenue of $11.64 million during the quarter, compared to analysts’ expectations of $11.76 million. Safety Income & Growth had a return on equity of 1.67% and a net margin of 14.62%.

Several research analysts recently issued reports on the stock. Zacks Investment Research cut shares of Safety Income & Growth from a “buy” rating to a “hold” rating in a report on Saturday, October 27th. Barclays reissued a “hold” rating and set a $20.00 target price on shares of Safety Income & Growth in a report on Sunday, October 14th.

Shares of NYSE SAFE traded up $0.52 during midday trading on Thursday, reaching $18.96. The company had a trading volume of 26,281 shares, compared to its average volume of 62,389. The stock has a market cap of $335.98 million, a P/E ratio of 55.85 and a beta of 0.08. Safety Income & Growth has a 1 year low of $15.57 and a 1 year high of $20.17.

The firm also recently announced a quarterly dividend, which was paid on Monday, October 15th. Investors of record on Friday, September 28th were issued 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 dividend yield of 3.16%.

In other news, major shareholder Istar Inc. purchased 129,600 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The shares were bought at an average price of $16.35 per share, for a total transaction of $2,118,960.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Marcos Alvarado sold 2,900 shares of the firm’s stock in a transaction on Monday, August 27th. The shares were sold at an average price of $16.46, for a total transaction of $47,734.00. The disclosure for this sale can be found here. In the last three months, insiders have purchased 183,575 shares of company stock valued at $3,082,267. 1.21% of the stock is currently owned by corporate insiders.

A number of hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new stake in Safety Income & Growth during the third quarter valued at $328,000. Pinnacle Associates Ltd. grew its position in Safety Income & Growth by 58.2% during the third quarter. Pinnacle Associates Ltd. now owns 17,400 shares of the company’s stock valued at $326,000 after buying an additional 6,400 shares during the period. Foundry Partners LLC grew its position in Safety Income & Growth by 7.9% during the third quarter. Foundry Partners LLC now owns 323,530 shares of the company’s stock valued at $6,060,000 after buying an additional 23,730 shares during the period. State of New Jersey Common Pension Fund D grew its position in Safety Income & Growth by 3.9% during the third quarter. State of New Jersey Common Pension Fund D now owns 401,416 shares of the company’s stock valued at $7,519,000 after buying an additional 15,000 shares during the period. Finally, Paloma Partners Management Co acquired a new stake in Safety Income & Growth during the second quarter valued at $222,000. Institutional investors own 37.00% of the company’s stock.

About Safety Income & Growth

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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