Brokerages predict that Safety Income & Growth Inc (NYSE:SAFE) will announce sales of $12.81 million for the current fiscal quarter, according to Zacks. Two analysts have provided estimates for Safety Income & Growth’s earnings, with the lowest sales estimate coming in at $12.72 million and the highest estimate coming in at $12.90 million. Safety Income & Growth reported sales of $6.75 million during the same quarter last year, which indicates a positive year-over-year growth rate of 89.8%. The company is expected to announce its next quarterly earnings report 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 fiscal year, analysts anticipate that the business will report sales of $70.52 million, with estimates ranging from $65.10 million to $75.94 million. Zacks’ sales calculations are an average based on a survey of sell-side research firms that follow Safety Income & Growth.

Safety Income & Growth (NYSE:SAFE) last posted its earnings results 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). The firm had revenue of $11.64 million for the quarter, compared to the consensus estimate of $11.76 million. Safety Income & Growth had a return on equity of 1.67% and a net margin of 14.62%.

A number of analysts recently weighed in on SAFE shares. Barclays reaffirmed a “hold” rating and set a $21.00 target price on shares of Safety Income & Growth in a report on Friday, August 17th. Zacks Investment Research lowered shares of Safety Income & Growth from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 21st.

In related news, major shareholder Istar Inc. purchased 9,674 shares of the business’s stock in a transaction on Thursday, November 8th. The stock was acquired at an average price of $18.55 per share, with a total value of $179,452.70. The purchase was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Marcos Alvarado sold 2,900 shares of the business’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 transaction of $47,734.00. The disclosure for this sale can be found here. Insiders have purchased a total of 183,575 shares of company stock worth $3,082,267 in the last ninety days. 1.21% of the stock is currently owned by insiders.

Hedge funds have recently added to or reduced their stakes in the business. Paloma Partners Management Co purchased a new position in Safety Income & Growth in the 2nd quarter worth approximately $222,000. Acadian Asset Management LLC purchased a new position in Safety Income & Growth in the 2nd quarter worth approximately $230,000. Pinnacle Associates Ltd. grew its stake in Safety Income & Growth by 58.2% in the 3rd quarter. Pinnacle Associates Ltd. now owns 17,400 shares of the company’s stock worth $326,000 after buying an additional 6,400 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of Safety Income & Growth in the 3rd quarter valued at $328,000. Finally, Bank of America Corp DE boosted its stake in shares of Safety Income & Growth by 21.0% in the 2nd quarter. Bank of America Corp DE now owns 84,134 shares of the company’s stock valued at $1,596,000 after purchasing an additional 14,581 shares in the last quarter. 37.00% of the stock is owned by institutional investors and hedge funds.

Safety Income & Growth stock traded up $0.52 during midday trading on Friday, reaching $18.96. 26,281 shares of the stock were exchanged, compared to its average volume of 62,389. The firm has a market capitalization of $335.98 million, a PE ratio of 55.85 and a beta of 0.08. Safety Income & Growth has a 52 week low of $15.57 and a 52 week high of $20.17.

The company 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. This represents a $0.60 dividend on an annualized basis and a yield of 3.16%. The ex-dividend date was Thursday, September 27th.

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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