Zacks Investment Research lowered shares of Safety Income & Growth Inc (NASDAQ:SAFE) from a hold rating to a sell rating in a research 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. “

A number of other brokerages also recently weighed in on SAFE. J P Morgan Chase & Co began coverage on Safetyome & Growth in a research report on Monday, July 17th. They set a neutral rating and a $21.00 price target on the stock. Barclays PLC began coverage on Safetyome & Growth in a research report on Monday, July 17th. They set an equal weight rating and a $21.00 price target on the stock. Mizuho began coverage on Safetyome & Growth in a research report on Wednesday, August 30th. They set a neutral rating and a $20.00 price target on the stock. Raymond James Financial, Inc. began coverage on Safetyome & Growth in a research report on Tuesday, July 18th. They set a market perform rating on the stock. Finally, UBS AG began coverage on Safetyome & Growth in a research report on Monday, July 17th. They set a market perform rating on the stock. One research analyst has rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. Safetyome & Growth has an average rating of Hold and a consensus target price of $20.80.

Shares of Safetyome & Growth (NASDAQ SAFE) opened at 19.24 on Thursday. The company’s 50-day moving average price is $19.23 and its 200 day moving average price is $19.27. The company has a market cap of $349.98 million and a P/E ratio of 115.21. Safetyome & Growth has a 52 week low of $18.02 and a 52 week high of $20.00.

COPYRIGHT VIOLATION WARNING: “Safety Income & Growth Inc (SAFE) Stock Rating Lowered by Zacks Investment Research” was originally posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are accessing this article on another site, it was copied illegally and reposted in violation of U.S. & international copyright laws. The correct version of this article can be accessed at https://www.thecerbatgem.com/2017/09/18/safety-income-growth-inc-safe-stock-rating-lowered-by-zacks-investment-research.html.

In other news, Chairman Jay Sugarman bought 50,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The shares were bought at an average price of $20.00 per share, with a total value of $1,000,000.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Nina Matis bought 20,000 shares of the firm’s stock in a transaction dated Tuesday, June 27th. The stock was purchased at an average cost of $20.00 per share, for a total transaction of $400,000.00. Following the transaction, the insider now directly owns 20,000 shares of the company’s stock, valued at approximately $400,000. The disclosure for this purchase can be found here. Insiders bought 3,451,727 shares of company stock worth $68,118,067 in the last ninety days.

Institutional investors have recently bought and sold shares of the company. Pinnacle Associates Ltd. acquired a new position in shares of Safetyome & Growth in the second quarter valued at approximately $196,000. Salem Investment Counselors Inc. acquired a new position in shares of Safetyome & Growth in the second quarter valued at approximately $479,000. Goldman Sachs Group Inc. acquired a new position in shares of Safetyome & Growth in the second quarter valued at approximately $1,420,000. Macquarie Group Ltd. acquired a new position in shares of Safetyome & Growth in the second quarter valued at approximately $2,873,000. Finally, Forward Management LLC acquired a new position in shares of Safetyome & Growth in the second quarter valued at approximately $4,213,000.

Safetyome & Growth Company Profile

Get a free copy of the Zacks research report on Safetyome & Growth (SAFE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Analyst Recommendations for Safetyome & Growth (NASDAQ:SAFE)

Receive News & Stock Ratings for Safety Income & Growth Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Safety Income & Growth Inc and related stocks with our FREE daily email newsletter.